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GOVERNMENTS OF AZERBAIJAN AND GEORGIA CONSIDER OPTIONS FOR REPAYMENT OF DEBTS

Business Materials 22 June 2005 18:42 (UTC +04:00)

Governments of Azerbaijan and Georgia continue considering options for repayment of debts by Georgia to Azerbaijan, deputy Foreign Minister of Azerbaijan, Mahmud Mamedkuliyev reported on 22 June, replying the Trend questions.

According to him, the options mechanisms for debts repayment are currently discussed

at the Finance Ministries (FM) of both countries. The Georgian side offered to extend the time for debts repayment, taking into account the economic situation in the country. The FM of Azerbaijan, in its turn, insists on the soonest repayment of debts.

The deputy Foreign Minister considers, that the debt may be repaid not only by money, there exist a number of mechanisms for debts repayment in the world practice, for instance, by property. The sides will consider all options and mechanisms.

Georgia owes $15-16 million to Azerbaijan. The sides have no disputes on the issue of the amount, the problem is in the time and mechanisms of its repayment.

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