According to the Georgian Ministry of Finance, Georgia has repaid its “historical debt” to Azerbaijan.
In September, Georgia fully repaid the remaining part of its external debt, which was restructured in accordance with the agreement signed with the Paris Club creditors in July 2004.
In addition to Azerbaijan, debts were also repaid to Russia, Turkey, Kazakhstan, Armenia, Iran and the Netherlands.
All debts relate to external obligations assumed in the first years after Georgia’s independence.
The payments included $160 million in debt formed before 1999, interest on obligations accumulated from 1999 to May 2004, and debts payable in 2004-2006 according to the previously approved schedule.
The total amount of payments exceeded $225 million.