Georgia has completely repaid its external debt to Russia and six other creditor states from the Paris Club, according to the Ministry of Finance of Georgia. The repayments were made under a 2004 refinancing agreement that covered part of Georgia’s outstanding debt.
Among the cleared obligations were debts to Turkey, Kazakhstan, Armenia, Azerbaijan, and Iran. As of August 1, the total outstanding balance to these states amounted to about $7.32 million, of which $4 million was owed to Russia, Sputnik Armenia reports.
The repayment package included around $160 million in debts accumulated before 1999, as well as interest accrued between 1999 and 2004. It also covered obligations originally scheduled for repayment between 2004 and 2006.
The refinancing process began on June 1, 2004, and lasted until December 1, 2006, with payments spread over 20 years. In total, Georgia’s repayments exceeded $225 million.
As of August 2025, Georgia’s national debt stands at more than $9 billion. France is its largest creditor, with obligations exceeding $850 million.
