Today the Ministry of Finances of Azerbaijan Republic has sent the last alternative design of the project of agreement on restructuring of Georgian debt to Azerbaijan Republic, Trend reports referring to the Ministry of Finances. The process of the document agreement with the Georgian party has already completed. Now it is expected to obtain authorities on signing of the agreement within Azerbaijan-Georgian intergovernmental commission which meeting is expected to be held on August 19 in Batumi.
The authorities can be given to Azerbaijan Finance Minister Samir Sharifov. Otherwise the document will be signed by Azerbaijan Prime Minister Artur Rasizadeh, who is the Co-Chairman of the Commission from Azerbaijani side.
The changings in the document were of a technical nature. There was the necessity of more precise definition of the percentage payment sum in the connection with the agreement signing postponement. On the whole taking into account the principal debt and accumulated interest, Georgia to pay $22 m to Azerbaijan. The acquittance will be conducted merely by money on the base of the schedule of restructuring. The total amount of the Georgian debt makes up $16, 189 573. According to the new variant the partial acquittance to the sum of $3, 239 000 to start in this year and be completed in 2021. The second part of the Georgian debt to the sum of $2,071 000 will start as soon as the agreement comes into force. The payment of this part of the debt to be carried out in two stages and be completed till the end of 2006. Following the signing of the agreement, Georgia was obliged to pay immediately about $2,5 m including per cents.
The acquittance of the third part of the debt ($11,3 РјР"РЅ.) to start in 2011 and be completed in 2005. The interest on debt will be 3 per cent per year. This debt was formed in 1992-1994 in the result of the holding of trade operations.