13  The duration of insolvency procedures ranges from 4.8 years in the most virtuous districts to 10 years in the less efficient ones. The duration of real-estate foreclosures ranges from 2 to 8 years. 7  recovery procedures. Until then, the implementation of these mechanisms will need close monitoring.
See European Council (2022), “European Council meeting conclusions”, 23 and 24 June; and European Council (2022), “European Council meeting conclusions”, 15 December 16. Council of the European Union (2022), “Enlargement ‒ Council conclusions on North Macedonia and Albania”, 18 July; Delegation of the European Union to Georgia (2022), “The European Perspective for Georgia”, 20 September.