Russia no longer holds debts from Georgia following a repayment by Georgia.
Georgia's debt history can be traced back to the external obligations assumed after the country gained independence in 1991. Over the years, the Asian Development Bank, the Asian Infrastructure Investment Bank, the European Investment Bank, and the World Bank have emerged as the largest creditors.
In February 2025, the total external public debt of Georgia stood at $3.997 million and remained at that level until August. However, an interesting development occurred in August 2025, when the debt in the "Russia" column was blank. This anomaly persisted in September 2025 as well.
The repayment of debts incurred over the years has been significant. Payments totaling $160 million were made to settle debts and interests accrued before 1999, and obligations from 2004 to 2006 under an approved plan. This extensive repayment schedule, which spanned from June 1, 2004, to December 1, 2006, was part of a debt restructuring process that continues to this day, spanning 20 years.
Since August 2025, Georgia has not made any new debt settlements. As of September 2025, the total amount paid by Georgia to settle debts exceeds $225 million.
It's worth noting that Georgia has settled debts with various countries, including Azerbaijan, Armenia, Kazakhstan, Iran, the Netherlands, and Turkey. The total external public debt of Georgia in September 2025 was $9.1 billion.
Interestingly, there is no public information or referenced source stating that Russia made a demand related to a Russian loan to Georgia in the last month of summer 2025. Current available sources focus on other geopolitical issues involving Russia, but do not mention a Russian credit demand to Georgia at that specific time.
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