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State Debt Declines by 67 million GEL

In July 2018 Georgia’s state debt declined by 67 million GEL. Georgia’s USD-denominated external state debt decreased by 17 million USD. In July, as result of GEL exchange rate appreciation, GEL-denominated external debt decreased by 64 million GEL, while in June the debts declined by 3 million GEL. As of …

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Excessive Debt Stifling Georgia

Mamuka Bakhtadze: “Irresponsible lending pushed 630,000 citizens onto the black list” “Today excessive debts stifle the country. This is the only relevant appraisal that we can give to the current situation in terms of excessive indebtedness. It is an important source of impoverishment. On the one hand, it narrows incomes …

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Georgia’s External Debts Exceed 5.1 billion USD

Financial Pyramid In Georgia Grows Unprecedented Internal Debts

As of December 31, 2017 Georgia’s foreign debts constituted 5.177 billion USD. According to Ministry of Finance, foreign debts of the Government marked 5 091 942 USD, while 3 765 041 is owed to multilateral creditors. World Bank is a major creditor. 5 091 942 13 199 331 3 765 …

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Kazakhstan to Restructure Georgia’s Debt

The Senate of the Parliament of Kazakhstan ratified the agreement on restructuring Georgia’s debt to Kazakhstan. Finance Minister of Kazakhstan Bakhyt Sultanov, addressing a plenary session of the Chamber of Senate, recalled that the agreement was signed on June 13, 2017. “The debt of Georgia to Kazakhstan is more than …

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Number of Insolvent Citizens in Georgia Grows

insolvency

Quantity of insolvent citizens rapidly grows in Georgia. The tendency has intensified in 2017. Over the past 10 months, the quantity of insolvent citizens rose by 23.5%. As of January 20, 2017 the Debtor Registry of National Enforcement Bureau registered 186 285 debtors, while currently the registry records 230 223 …

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Georgia’s External Debts Mark 15.5 billion USD

As of December 31, 2016, as compared to 2015, Georgia’s external debts have grown by 416 million USD and totaled 15.5 billion USD. Because of upturn in debts and GEL depreciation, external debts’ correlation to total GDP considerably increased. Georgia’s external debts accounts for 108% of the 2016 GDP. External …

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GEL Strengthening Contributes to State Debt Reduction

As of March 31, 2016, the state debts of Georgia made up 13.2 billion GEL, while the figure marked 13.5 billion GEL at the end of February 2016. The state debt reduction was driven by the GEL exchange rate strengthening, despite the fact, Georgia’s external state debts had increased by …

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21% Loan Owners Gave Up Food To Cover Credits

Credits Lari

21% of the respondents have cut food product costs for serve the credits, while 39% face difficulties and overwhelming difficulties with repaying the credits. Moreover, the situation worsens in case of the clients who have taken USD denominated loans (49%). The research authors have also made focus on solvency of …

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What Should you Know Before Getting a Mortgage Loan?

Levan Diasamidze

A mortgage loan is a common banking product intended for the purchase of an apartment or commercial space. The terms for bank mortgage loans are getting more sophisticated and flexible.  TBC Bank’s regional director Levan Diasamidze explains the crucial information every citizen, who wants a mortgage loan, should have before applying …

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Germany Grants €140m to Georgia

German Federation Republic will allot debt of around 135 million EUR and grant of 5 million EUR for implementation of investment projects. The PM has declared about it at the government session on Friday. The sum should be spent on investment projects of the following sectors: energy, municipal infrastructure and agriculture. “Besides …

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Georgia’s External State Debts Mark 4.3 billion USD

Money

Georgia’s external state debts constituted 4.3 billion USD (10.632 billion GEL) as of February 1, 2016. The government’s external debts marked 4.281 billion USD, including the Government owes 3.055 billion USD liabilities to multilateral creditors and 723.7 million GEL to bilateral creditors, the Georgian Finance Ministry’s statistics reports. The National …

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Georgia Finished 2015 with a Foreign Debt of 4,3 billion

Georgia finished 2015 with a foreign debt of 4,3 billion USD (10,3 billion GEL). To note, 99% of the mentioned sum is a state debt, which volume totals to 4,314 billion USD as of December 31, 2015, at that the country owns 3,295 million of multiple creditors. Debt of National …

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