Russia no longer maintains a financial claim against Georgia following a debt repayment by the Georgian government.
In a significant move towards financial stability, Georgia has successfully settled its debts to several countries and international financial institutions, including Azerbaijan, Armenia, Kazakhstan, Iran, the Netherlands, Turkey, the Asian Development Bank, the Asian Infrastructure Investment Bank, the European Investment Bank, and the World Bank.
The repayment schedule spanned over two decades, with the country making significant strides in debt repayment since the initial debt accrual following its independence in 1991. The debts originated from external obligations taken during this period.
As of August 2025, Georgia's external public debt amounted to $9.1 billion, marking a 1.1% increase from August 2024. Compared to July 2025, the indicator increased by 0.6%. However, the debt decreased dramatically in the first few months of the year, dropping to $3.997 million in February 2025 and remaining at that level until August.
The total amount paid exceeded $225 million and included a total of $160 million in debts incurred before 1999, interest from 1999 to May 2004, and obligations for 2004-2006 under a previously approved plan. Debt restructuring was conducted from 1 June 2004 to 1 December 2006.
Interestingly, the column "Russia" in the debt record was blank in August, suggesting no current debt obligations to Russia. However, the search results do not provide information about the largest creditors of the Republic of Georgia as of August 2025.
The journey towards debt settlement began in January 2025, with Georgia's debt standing at $7.87 million. This significant reduction in debt is a testament to the country's commitment to financial responsibility and its efforts to strengthen its economic position on the global stage.
This milestone achievement is expected to boost investor confidence in Georgia's economy and pave the way for further economic growth and development. The country continues to work towards maintaining a stable financial position and ensuring sustainable economic development for its citizens.
