Ivane Machavariani: Debts annullation will refer to citizens, whose debt is unpaid for more than one year and does not exceed GEL 2000

13:59, 19.11.2018

The initiative on debts annullation will refer to citizens, whose debt is unpaid for more than one year and does not exceed GEL 2000, – Minister of Finance Ivane Machavariani mentioned when speaking about the new initiative on over-indebtedness problem.

As Ivane Machavariani noted, several rounds of negotiations were held with banks and financial institutions, after which the agreement was reached.

“In total, the fines and the main part of debts amount to GEL 1,5 billion, Cartu Foundation will cover this amount fully”, – Minister said.

The financial liabilities of more than 600,000 citizens toward the banks, online organizations and other financial institutions will be annulled. Georgia’s Prime Minister Mamuka Bakhtadze made this statement at the briefing today.

Economics

Debts annullation

ივანე მაჭავარიანი