Home News Georgian Foreign Debt exceeds $1.7B

Georgian Foreign Debt exceeds $1.7B


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As Finance Ministry informs, foreign debt and volume of state guarantee of Georgia totaled to $1.7 billion on June 30. The figure is by 2% reduced than the same showing of 2006, while exceeding by 0.3% the figures at the start of the year.

  

The debt to International Development Association (IDA, member of World Bank group) made up $805.55 million. The figure is by 2.7% more than showings at the beginning of the year, while growing by 11.5% compared to the last year's figures. The debt to International Monetary Fund (acceptor is National Bank of Georgia) amounted to $237.2 million, growing by 0.4% and 1.3% more accordingly.

 

The debt to EU made up $77.3 million (by 2.1% more and by 28% less, accordingly), to International Fund of Agriculture Development (IFAD) - $10.5 million, or by 5.5% and 6.8% more.

 

As for bilateral creditors, total debt made up $533.49 million. The debt to Germany has increased by 85.5% since the start of the year and totaled to $152.3 million, exceeding 2.2 times last year's figures.

 

The debt to Russia has declined by 8% since the beginning of the year and by 10% - compared with the same figures of 2006, made up $132.2 million. The debt to Turkey declined down to $50.5 million (by 5.6% and 7%, accordingly), Japan - to $42.4 million (by 3% and 4.7%), Turkmenistan - to $22.4 million (by 45% and 59%).

 

The debt to the US has not changed from the beginning of the year - $41.4 million, declining by 0.3% comparing with the last year. The debt to Kazakhstan is kept unchanged - $27.8 million.

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