Article: GEORGIA: BANK OF GEORGIA DECREASES INTEREST RATES.

According to Georgia Today: The Bank of Georgia announced decreases to loan and deposit interest rates starting from Nov. 16. General Director Irakli Gilauri released the bank's third quarter results at a press conference today. According to Gilauri, interest rates on mortgage loans will be decreased by 14.5 percent, and consumer loans will start with a 20-percent interest rate, and automobile loans with a 16-percent interest rate. "We are also improving the conditions on mortgage loans for evaluating guarantees because we were not waiting for real estate price reductions," Gilauri told Georgia Today. ...

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