Georgia accumulated a $16,636,000 debt to Armenia as a result of bilateral trade in 1992-1993, says an official letter by the Georgian Ministry of Finance.

In the agreements of June 15, 1993, and June 2, 1994, the debts are indicated as state credits. The credit agreements were incorporated in a rescheduling agreement of June 5, 1996. Armenian-Georgian intergovernmental agreements of February 12, 2002 and of September 29, 2005 regulate Georgia’s debt to Armenia now, says the letter.

The agreement of February 12, 2002 is in effect until December 31, and the one of September 29, 2005, is in effect until September 1, 2025.