Daily Archives: May 7, 2018

Minister of Finance: Effective Interest Rate’s Top Margin will Decline to 50% from 100%

TBILISI(BPI)- The top margin on effective interest rate will decrease to 50% from 100%, Minister of Finance of Georgia Mamuka Bakhtadze said. Previously, it was widespread practice that interest rates indicated in loan agreements did not reflect the reality, he added. “Various commission fees, fines were added to the loan and this factor was doubling and tripling interest rates. Borrowers ...

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