ArmInfo. Tbilisi has fully repaid its foreign debt to Yerevan, RIA Novosti reports, citing data from the Georgian Ministry of Finance.
According to the information, Georgia has fully repaid its historic debt to Russia. In February, the debt to Russia decreased from $7.87 million to $3.997 million. This figure remained in the debt column from February to August. As of last month, it was marked with a dash.
"According to the BMG business agency, this was a debt accumulated during the first years of Georgia's independence, which was restructured in July 2004 in accordance with an agreement signed between Tbilisi's creditors and the Paris Club.
These funds comprised $160 million borrowed by Georgia before 1999, interest accrued on debts from 1999 to May 2004, and debt due from 2004 to 2006. The total amount exceeded $225 million.
In addition to Russia, Tbilisi has fully repaid long-standing debts to Turkey, Kazakhstan, Armenia, Azerbaijan, and Iran," RIA Novosti reports.
The Ministry of Finance added that Georgia's public debt as of August amounted to over $10 billion. The country owes the most to France - over $850 million.
By the end of July of this year, Armenia's public debt amounted to $14 billion 98.6 million. The government debt reached $13 billion 575.3 million. Of this, the external debt amounted to $6 billion 431.9 million. The largest creditor of the Armenian government is the World Bank - the International Bank for Reconstruction and Development and the International Development Association account for 37.7% of external loans to the Republic of Armenia. The second largest creditor is the Asian Development Bank - 21.8%, the Eurasian Development Bank is in third place - 8.7%, followed by the International Monetary Fund - 1.6%, and the European Investment Bank - 3.3%. External loans from the EU in the structure of external debt amounted to 1.7%, the International Fund for Agricultural Development - 1%, the OPEC Fund for International Development - 3.2%, and the EBRD - 1%. Among the major creditor countries, the Russian Federation is in first place - 4.7% (6.2% by the end of 2023 and 5.3% in 2024), Germany - 4.6%, Japan - 2.8%, France - 7.3%, China - 0.3%, and the United States - only 0.2% of the government's external debt.
