USA, Georgia Agreed on Debt Rescheduling

(Tbilisi, March 6, Civil Georgia) – Georgian Finance Minister Zurab Nogaideli and Charge d’Affairs of the United States in Georgia Philip Remler signed a document rescheduling Georgia’s debt to the United States on March 6.

Georgia is to repay $20 million to the United States within 30 years. Annual interest rate will be 1,5% during the first four years and then 2,5% during the remaining period of time. Repayment of the amount will start from 2003.

Philip Remler praised the Georgian Finance Ministry’s activity in the past two years and expressed the hope that the same policy will be continued in the future as well.

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