Georgia Pays Off External Debts to Russia and Neighbors

In September, Georgia paid off the remnants of its external debt to Kazakhstan, Russia, Armenia, and other countries. This is reported by Georgian sources. The debt had accumulated in the first years of independence; in particular, Kazakhstan had provided a loan of 27.5 million dollars to Georgia in the mid-1990s.

In 2017, the debt was restructured due to Georgia's difficult economic situation. The total repayment amount was almost 38 million dollars, the Ministry of Finance of Kazakhstan reported in 2018. It was noted that Georgia began to repay the debt in September 2017.

Georgia has fully repaid its long-standing debt to Russia, according to data from the Ministry of Finance of Georgia, analyzed by TASS.

And in the data published as of the end of August, for the first time, the amount of Georgia's external public debt to Russia is listed as zero. In previous months, this figure had consistently been around 4 million dollars.

The last change was recorded at the end of February of this year, when Georgia's debt to the Russian Federation was halved, from 7.87 million dollars to 3.997 million dollars. Before that, the debt had been reduced a year earlier, in August 2024, when it decreased one and a half times, from 11.618 million dollars to 7.87 million dollars.

In addition to Russia, in August Georgia also fully repaid its debts to Armenia and Azerbaijan, which had recently been approximately equal and amounted to less than 1 million dollars.

Among the countries, Georgia owes the most to France - 850.9 million dollars. It has not yet been repaid.