INTERGOVERNMENTAL AGREEMENT ON GEORGIA'S STATE DEBT TO ARMEN

[MosJan]

INTERGOVERNMENTAL AGREEMENT ON GEORGIA'S STATE DEBT TO ARMENIA RESTRUCTURING HAS BEEN SIGNED

04.09.2001

 

/PanARMENIAN.Net/ The negotiation between Armenia's finance and economy minister Vartan Khachatryan and Georgia's finance minister Zurab Nogaydeli held in Yerevan have resulted in intergovernmental agreement on restructuring of Georgia's $20 million state debt to Armenia. According to this document, Georgia must pay 4% - $800 000 of the total debt till the end of this year. The rest of the sum will be paid till 2021. The sides have agreed that the terms of the debt payment can not be changed because of the agreements regarding Georgia's debts to other countries-creditors within the frameworks of Paris club. As "Arka" agency informs, Georgia has reached the agreements for state debt restructuring with Austria, Iran, Turkey, Azerbaijan and Ukraine. The ministers also have agreed to create permanent secretariat that will act to solve common problems.

According to Zurab Nogaydeli, Armenia and Georgia intend to develop joint programs that might be introduced to Germany for financing. It should be reminded that earlier the coordinator of the ministry of economic cooperation and development of Germany for Caucasus region Tomas Hekfen has stated that his country is ready to assist the implementation of the regional projects in Caucasus, which will let Georgia and Armenia cooperate, in future it will let Azerbaijan and Armenia also find ways for cooperation. Armenia's finance and economy ministry and Georgia's finance ministry has signed also the agreement on further cooperation. Within the frameworks of the agreement the sides have reached agreements on agreed policy in the spheres of tax and custom's legislation, coordination of efforts for their harmonization.

 

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