Georgian authorities announce large-scale debt relief on eve of presidential election

Over 562 million US dollars of Georgian citizens' debts to banks, online organizations, and other financial institutions will be cleared off, reports today Georgian Prime Minister Mamuka Bakhtadze.

The "Caucasian Knot" has reported that the Central Election Commission (CEC) of Georgia scheduled for November 28 the second round of the presidential election to involve independent candidate Salome Zurabishvili, supported by the "Georgian Dream" Party, and Grigol Vashadze, a candidate of the opposition "United National Movement" (UNM) Party.

Today, at a briefing held before the government meeting, Georgian Prime Minister Mamuka Bakhtadze has announced the debt relief. The process of the debt relief will begin on December 15 and will end until December 31, declared the Prime Minister, whose speech was broadcasted by the "Rustavi-2" TV Channel and translated by the "Caucasian Knot" correspondent.

Mamuka Bakhtadze has emphasized that the process of the debt relief will be carried out with the support of the "Kartu" Foundation.

According to the Prime Minister of Georgia, the total amount of outstanding debts is about 1.5 billion laris (more than 562 million US dollars), the "News-Georgia" reports.

This article was originally published on the Russian page of 24/7 Internet agency ‘Caucasian Knot’ on November 19, 2018 at 03:12 pm MSK. To access the full text of the article, click here.