The final payments made in September were allocated to the following countries: Russia - US$ 4 million; Turkey - US$ 1.1 million; Kazakhstan - US$ 636 thousand; Armenia - US$ 516 thousand; Azerbaijan - US$ 586 thousand; Iran - US$ 427 thousand;
In September 2025, Georgia fulfilled its obligation by paying off its longstanding external debt to Russia. This debt, which was accrued during the initial years of Georgia’s independence, was restructured in July 2004 through an agreement with the Paris Club creditors. The total includes $160 million in problematic loans acquired by Georgia prior to 1999, along with interest on debts accumulated from 1999 to May 2004, as well as repayments due from 2004 to 2006. The overall debt surpassed $225 million.
The final payments made in September were allocated to the following countries: Russia - US$ 4 million; Turkey - US$ 1.1 million; Kazakhstan - US$ 636 thousand; Armenia - US$ 516 thousand; Azerbaijan - US$ 586 thousand; Iran - US$ 427 thousand;
By restructuring its debts, Georgia has managed to significantly reduce fiscal pressure during this period, as it consolidated problematic loans and deferred their servicing. Debt repayment began in 2011, and the last tranche was made in September 2025.
The above-mentioned foreign credits as of 2004, i.e. at the time of their restructuring, looked as follows:
Russian Federation - 153 million dollars;
• Turkey - 53.4 million dollars;
• Kazakhstan - 28 million dollars;
• Armenia- 19.6 million dollars;
• Azerbaijan - 16.2 million dollars;
• Iran - 12.8 million dollars.
