GEORGIA HAS STOPPED PAYMENT ON STATE DEBT INTEREST RATE TO ARMENIA

. Ministry of Finance of Georgia has stopped payment on the state debt interest rate to Armenia till September 1. This information was given by “Prime News” agency. According to Minister of Finance of Georgia Zurab Noghaidelia, unsuccessful negotiations with Armenia on restructuring of the debts of Georgia have served as an occasion for this. The Minister stressed that the Armenian side had not made additional concessions for Georgia, implying decrease of annual payments to 3%. Z.Naghaideli reported that the Georgian side intended to initiate new negotiations on the problem with the representatives of Armenia.
“Arka” agency informs that the debt of Georgia to Armenia makes 16 million dollars. Answering the question of the agency, Minister of Finance and Economy of Armenia Vardan Khachatrian reported that Armenia was prepared to discuss the issue of restructuring of the Georgian debt.