Georgia to repay debts to Azerbaijan by 2025

The agreement between Azerbaijan and Georgia was unanimously approved at a parliament voting.

Georgia owes Azerbaijan US $16.189mn. $2.7mn will be paid by the end of 2006 and $3.239mn will be paid during 2007-2021. Beginning from 2010 the third repayment will be made to Azerbaijan up to 2025. The debt carries interest of 3% per annum.

As of September 30, 2006, Georgia's foreign debt stood at USD 1.7486bn. Georgia owes the World Bank, International Development Association ($739 149 000), International Monetary Fund ($224 147 000), Russia ($147 140 000). APA