Georgia’s Foreign Debt Exceeds $2bln
Georgia, Tbilisi, 30 October / corr Trend N.Kirtzkhalia / As of 30 September 2008, Georgia's foreign debt and total volume of loans, taken under state guarantee, made up $2,324,908, the Georgian Ministry of Finance said.
Georgian total arrears on the basis of bilateral agreements made up $525.021mln. Particularly, the debt to Austria comprised $1.611mln, Azerbaijan - $14.427mln, Turkmenistan - $1.611mln, Turkey - $41.841mln, Iran - $11.319mln, Russia - $119.98mln, Armenia - $17.42mln, Uzbekistan - $0.378mln, Ukraine- $0.345mln, Kazakhstan - $27.774mln, Japan - $50.225mln, Kuwait - $13.987mln, the Netherlands - $9.589mln, the USA- $39.835mln, and China - $4,384mln.
Total volume of Georgia's debt to Azerbaijan, which was formed in 1992-1994, as a result of economic operations between state enterprises, made up $16,189,573.
Georgia's total arrears on funds drawn as Eurobond constituted $500mln.
Georgia owed $1,289,009 to international financial institutions. The loans at the rate of $946.791mln was drawn through the International Association for Development, which enters the group of the World Bank (WB), $82.399mln - through the European Union, $216.705mln - through the International Monetary Fund and $30.026mln - through the European Bank for Reconstruction and Development (EBRD).
The foreign debt on loans, drawn in under state guarantee, amounted made up $10.878mln as of 30 September. Georgia owned Germany $4.088mln and EBRD - $6.79mln.
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