BUSINESS
Foreign debt of Georgia amounts to $17.5 billion
05 July, 2018
The gross external debt of Georgia amounted to 17.5 billion USD (42.2 billion GEL) as of 31st March 2018 and 111.5 percent of the last four quarters' GDP, - the National Bank of Georgia said.

According to the NGB, during the first quarter of 2018 the gross external debt of Georgia increased by 192.6 million USD. Out of that 238.3 million USD increase were due to exchange rate changes and transactions also lead to it's increase by 21.0 million USD. While
price and other changes lead to its decrease by 57.0 and 9.7 million USD, respectively.
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Building of National Bank of Georgia. Photo courtesy: georgiaabout.com

Public sector external debt amounted to 7.4 billion USD (17.9 billion GEL) or 47.3 percent of GDP. Out of which, debt of the general government amounted to 5.4 billion USD (13.0 billion GEL) or 34.5 percent of GDP. External liabilities of the National Bank of Georgia amounted to 297.7 million USD (718.8 million GEL) or 1.9 percent of GDP. And, the bonds and loans of public enterprises were correspondingly 824.5 million USD (2.0 billion GEL) or 5.3 percent of GDP and 892.2 million USD (2.2 billion GEL) and 5.7 percent of GDP.
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Georgian currency - 200 and 100 GEL (Georgian Lari)

Banking sector external debt amounted to 3.8 billion USD (9.2 billion GEL) or 24.3 percent of GDP; Other sectors' external debt stood at 5.4 billion USD (13.0 billion GEL) or 34.3 percent of GDP; While 2.6 billion USD (6.3 billion GEL) or 16.6 percent of GDP was the intercompany lending. The 90.9 percent of the gross external debt of Georgia was denominated in foreign currency.
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National Bank of Georgia yard. Photo courtesy: georgiaabout.com

The net external debt of Georgia amounted to 10.6 billion USD (25.5 billion GEL or 67.4 percent of GDP) as of 31st March 2018. Net public sector external debt was 4.4 billion USD (10.5 billion GEL or 27.8 percent of GDP).
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Georgian currency - 20 and 50 GEL (Georgian Lari)

External liabilities of the National Bank of Georgia increased by 6.3 million USD, out of that, transactions led to increase of the debt by 0.2 million USD and exchange rate changes - by 6.1 million USD. By the end of the first quarter of 2018, the external debt of the National Bank of Georgia amounted to 297.7 million USD, of which 209.6 million USD are Special Drawing Rights (SDR)1 which have no maturity date, therefore there is no obligation to repay them as long as Georgia is a member of the IMF.
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Georgian currency - 10 and 5 GEL (Georgian Lari)

First photo courtesy: finchannel.com

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