Time in Yerevan: 11:07:36,   16 June

Georgia nullifies bank debts for 600,000 ‘blacklisted’ people

YEREVAN, NOVEMBER 19, ARMENPRESS. The Georgian government said it will re-pay the bank debts of citizens who are blacklisted.

Citizens are blacklisted by banks when they fail to re-pay interest or loans in time. Blacklisted individuals are denied credits in the future.

“Nearly 95% of blacklisted debts comprise debts whose main amount doesn’t exceed two thousand laris,” PM Mamuka Bakhtadze said in a briefing. He said he refers to a total of more than 600,000 people and the total amount is nearly 1,5 billion laris. “By today’s decision, this 1,5 billion lari debt is being nullified for our citizens,” he said, according to Sputnik News.

Edited and translated by Stepan Kocharyan

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