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- Title
LOAN-DEBT PECULIARITIES OF THE POPULATION IN GEORGIA.
- Authors
Merab, Vanishvili; Nanuli, Kokashvili; Maka, Sosanidze
- Abstract
This scholarly article, based on the latest literary sources and rich factual materials, discusses such important issues of financial education as the debt obligations and debt burden of the population. It has been proven that interest-free loan from friends and bank loan prove to be the most widely-used loan sources by the Georgian respondents, with 42% of people borrowing interest-free from a friend, and 39% borrowing from a bank. In terms of popularly, bank loan is followed by pawnshop loan (18%), payday loan (12%), and MFI loan (11%). In general, middle-income households prove to be the most active borrowers, followed by higher-income households. Interest-free loan from a friend/family is the most popular amongst low- to middle-income respondents and thus, it is likely that such loans are predominately given in small amounts.
- Subjects
GEORGIA; BANK loans; PAYDAY loans; COMMUNITY banks; LITERARY sources
- Publication
European Science Review, 2021, Issue 11/12, p59
- ISSN
2310-5577
- Publication type
Article
- DOI
10.29013/ESR-21-11.12-59-63