Kazakh Parliament agrees on Georgia's debt restructuring
During a plenary session, Minister of Finance Bakhyt Sultanov noted that this agreement was signed on June 13, 2017.
The agreement is to ensure another restructuring of Georgia's debt under government credits on the terms of the agreed protocols on the Georgian Government's debt consolidation.
"The debt owed by the Government of Georgia to the Government of Kazakhstan is over $27.7 million," Mr. Sultanov said.
According to the document, Georgia is to pay its debt to Kazakhstan under certain terms. For instance, the principal amount of Georgia's debt is reduced by $2.3 million, which is the amount of the similar debt of Kazakhstan under the Act between the National Banks of the two countries.
In accordance with the Agreement, the Georgian side is to pay $37,997,815 from 2017 to 2025.