Georgia’s Ministry of Finance: Long-standing debt to Russia fully paid off

According to data released by the Ministry of Finance at the end of August, for the first time, there is a dash in the column indicating the amount of external debt owed to Russia. In previous months, it had consistently remained at $3.997 million. The last change in this indicator was at the end of February. The debt to Russia arose in the early 2000s as a result of various financial transactions. Georgia’s Ministry of Finance confirmed that the long-standing debt it owed to Russia has been fully repaid and there is no outstanding balance. The repayment process was part of Georgia’s efforts to manage its finances responsibly and strengthen its economic position. This development marks a significant milestone in the economic relations between Georgia and Russia.