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Georgia’s foreign loans

By Messenger Staff
Friday, January 6
According to information from National Bank of Georgia (NBG), the country’s aggregate foreign loans amount as of October 1, 2011, is USD 10.8 billion. For the last 15 years Georgia’s amount of foreign loans has increased fourfold. The biggest loan Georgia received was after the Russian invasion of the country in 2008. It received USD 4.5 billion at the time, out of which USD 2.5 billion was credit. Some analysts think that since there is no one entity which gave the loans to Georgia the situation is not that dramatic. The Government’s ten point plan touching on the issue mentioned the ability of the country to cope with foreign loans.