List of Debtors Rose by 2 700 Entries

List of Debtors Rose by 2 700 Entries

access_time2016-02-02 14:50:14

According to  the National Bureau of Enforcement,  as of February 1, 2016, the number of negative loans  in the Debtor Registry has  increased by 2 700 last month and  reached 146 185.

 

 It should be noted that by the end of 2015 the number of debtors, registered in the Debtor Registry  totaled 143 517  while by the end of 2014 – 133 583.


 

The data in the Debtor Registry changes  very quickly as the new debtors are registered  and those  who repay the  debt are removed from the list.
 

Experts believe that the main reason for such a rapid and significant increase in the number of debtors is the devaluation of the national currency, which led to an increase in debts - especially with respect to those who have loans in foreign currency, while revenues in the national.  Their debt has increased by 40% because of the depreciation of the lari  by 40%. While  revenues in the national currency at best remained unchanged, at worst – have been lost.
 

In this situation, many borrowers cannot cover their  debts in spite of the various proposals on  restructuring offered by  commercial banks.

 



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