PM confident against foreign loans

PM Nika Gilauri stated recently that in 2012-2013 Georgia will be capable of paying back its foreign debt. The PM thinks that the issuing of Eurobonds recently will safeguard the process.

As it is known in 2013 Georgia has to pay back the Eurobonds loan from 2008 and will also have to pay interest on other loans. So at this stage the Georgian government has managed to delay paying debts but the cost of the overall loans is increasing. According to the data of June 30, 2011 Georgia’s foreign loans reached USD 4.2 bln. This indicates a USD 700 mln increase on the figures of the same period last year.