Georgia has 3-year grace period to repay foreign debt taken on amid coronavirus crisis

Georgia will have a three-year grace period to repay foreign debts taken on amid the coronavirus crisis, said Deputy Finance Minister Giorgi Kakauridze earlier today.

Debt taken on because of the crisis will not have to be repaid next year, because each of them has a grace period of at least 3 years, although in general the country has to repay the debt," he said.

Kakuridze noted that $1.5 billion was borrowed when the anti-crisis plan was presented, of which $900 million has already been received.

In 2021, the largest amount we have to repay is $500 million in Eurobonds,” said Kakauridze.

Kakauridze noted that next year Georgia has to repay foreign debts of 2.4 billion GEL which had accumulated apart from coronavirus debts.