Georgia not to Issue Eurobonds Yet: Nino Burjanadzeh

Georgia Materials 12 February 2008 13:38 (UTC +04:00)

Georgia, Tbilisi/ corr. Trend N. Kirtskhalia/ Vladimir Papava, the Georgian MP expressed the government's wish to issue Eurobonds in Parliament. "There is a financial crisis all over the world and a number of banks are suffering large losses and it is a crime to have an external debt of $500 mln," Papava said during the parliament session.

"The Government says that there is a surplus in the State budget, so why obtain credit and increase the external debt," the MP said.

Nino Butjanadzeh, the chairman of the Georgian parliament responded to Papava's statement and said that the Government is not planning to issue Eurobonds as yet. "Parliament will discuss it with Lado Gurgenidzeh, the Prime Minister, and we will make a decision once we have weighed the pros and cons," she said.

When approving the new composition of the government, the prime minister had stated that the Government planned to issue Eurobonds and to attract some $500 mln to the economy of Georgia.

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