Georgia’s External Debt to Azerbaijan Exceeds $14mln

Business Materials 20 November 2008 17:21 (UTC +04:00)

Georgia, Tbilisi, 20 September / Trend corr. N.Kirtskhalia/ As of 31 October 2008, Georgia's state external debt and a total of the credits under state guarantee comprised $2493.7mln, Georgian Finance Ministry said on 18 November.

A total debt to bilateral creditors totalled $516.8mln, including Austria - $1.48mln, Azerbaijan - $14.43mln, Turkmenistan - $1.61mln, Turkey - $41.84mln, Iran - $11.32mln, Russia - $119.99mln, Armenia - $17.42mln, Uzbekistan - $0.38mln, Ukraine - $0.35mln, Kazakhstan - $27.77mln, Japan - $54.22mln, Kuwait - $13.95mln, the Netherlands - $10.54mln, the USA - $39.08mln, and China - $4.39mln.

(Total amount of Georgia's debt to Azerbaijan, formed in 1992-1994 as a result economic operations among the state enterprises, composed $16,189,573). The debts of Georgia under Eurobonds compose $500mln.

For loans from international financial institutions Georgia owes $1,466.37mln. A total of $903.35mln was drawn in through the International Development Association (member of the World Bank), $75.72mln - the European Union, $12.42mln - the International Fund for Agricultural Development, $29.73mln - the European Bank for Reconstruction and Development.

The volume of external debt on loans borrowed under state guarantee amounted to $10.55mln by 31 October. Georgia owes $3.76mln to Germany and $6.79mln to EBRD.

The correspondent can be contacted at: [email protected]