Loan interest repayments must be frozen for at least 3 months. NA MP Edmon Marukyan has issued a statement about this.

Note that today the largest Georgian banks have decided to delay the repayment of loans for three months.

In particular, Bank of Georgia (Sakartvelo Bank) and TBC have decided to grant unprecedented privileges to borrowers, that is, to delay the repayment of loans until May, the statement said, considering the decision to mitigate economic problems caused by coronavirus.

It is a very timely and correct decision, again calling on our authorities and financial institutions to immediately freeze the repayment of loans and interest rates, at least until the situation stabilizes.

Marukyan’s proposal to apply the same principle to the RA.

“I propose to urgently discuss with commercial banks operating in the Republic of Armenia the issue of temporarily suspending the calculation and payment of credit liabilities of commercial entities, including self-employed citizens, affected by the spread of the coronavirus epidemic and preventive measures, at least for three months” he wrote.

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