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. Last Updated: 07/27/2016

Georgia Eyes Debt

TBILISI, Georgia -- Georgia will finish restructuring its $1.5 billion foreign debt in 1998, the head of the finance ministry's external debt department said Friday.

Bezhan Sharashidze said Georgia's biggest creditor remained fellow ex-Soviet republic Turkmenistan, to whom it owes more than $400 million for natural gas delivered between 1992 and 1995.

He said that among other large debts were 127.4 million ECU ($137.4 million) owed the European Union and $50 million to Turkey.