Yesterday, the Finance Ministries of Azerbaijan and Georgia held a consultation regarding the project of Agreement on restructuring of debts of Georgia to Azerbaijan. The document is under technical development process, Trend reports quoting the Finance Ministry of Azerbaijan.
The document is expected to be signed within Azerbaijani-Georgian interstate commission.
According to the information provided by the Finance Ministry, taking into consideration the main debt and calculated interests, Georgia will pay down $22 mln to Azerbaijan. The payment of the debts will be realized on base of the restructuring schedule. The gross amount of the Georgian debt to Azerbaijan is in amount of $16 189 573. According to the new schedule, the payment of part of debt in amount of $3.239 mln will start in 2006 and will be completed by the end of 2021. The second part of debt in amount of $2.071 mln will start after the agreement comes into force. Payment of this part should be made in two phases and completed by the end of 2006. Georgia agreed to pay $2.7 mln right after the signing of the agreement.
The payment of remaining third part of debt ($11.3 mln) should start in 2011 and should be completed in 2025.