Minister: Mutual compensation of Georgian, Kazakh debt impossible
Despite the Kazakh company KazTransGas has debts to Georgia, and the government of Georgia - to the government of Kazakhstan, mutual compensation of debts is impossible, Georgia's Minister of Finance Nodar Khaduri said on June 5.
"Mutual compensation of debts between the government of Georgia and KazTransGas is impossible, despite the fact that KazTransGas is a Kazakh state-owned company and Georgia has debts to Kazakhstan. We work hard to ensure taking parallel steps in both directions, but these two issues are not legally related to each other," Khaduri said.
The minister said that during his visit to Kazakhstan, he met with his counterpart Bolat Zhamishev and discussed with him the debts of Kaztransgas and Georgia.
"We have reached an agreement that provides for the scheme of restructuring Georgia's debts," Khaduri said.
KazTransGas-Tbilisi owns $80 million to Georgia's state budget. Georgia has a national debt of $140 million to Kazakhstan.