Georgia tackles foreign loans alone
By Messenger Staff
Thursday, May 17In 2011, the Georgian government's foreign loan burden was more than $5 billion USD, approximately 30% of GDP.
In comparison, Armenia’s loans are valued at $4.2 billion USD, 25% of GDP. Azerbaijan holds over $7 billion USD in loans, 32% of GDP. Both countries have strong external financial supports for managing their loans - the active Armenian Diaspora and Azeri oil wealth - that put them in a better position vis-a-vis Georgia.