Georgian Gross External Debt Statistics
11 January, 2012
Georgian Gross External Debt Statistics

Gross External Debt of Georgia amounted to USD 10.8 billion as of September 30, 2011, National Bank of Georgia, reported by December-end of 2011.

The figure translates into GEL17.9 billion of which USD 3.6 billion (5.9 billion GEL or 33.2%) is public sector debt, USD 866.6  million (GEL1.4 billion GEL or 8.0%) comes with the National Bank of Georgia (NBG), USD 2 billion (3.2 billion GEL or 18.1%) is the banking sector debt,  USD 1.9 billion  (GEL 3.1 billion or

17.4%) – goes to other sectors debt and USD  2.5 billion (GEL 4.2 billion or 23.3%) is intercompany lending. 95.3 percent of the Gross External Debt (GED) of Georgia is denominated in foreign currency.
During the third quarter of 2011, GED of Georgia increased by USD 235 million  of which operational and other changes led to increase  by USD 403.2 million and USD 4.4 million respectively. Exchange rate changes and price changes led to its decrease by USD 125.4 million and USD 47.3 million (208.0 and 78.4 million GEL) respectively.


Public sector debt has decreased by USD 8.4 million during the reporting period of which price and exchange rate changes has resulted in its fall by USD 85.9 million. Operational changes increased the public sector external liabilities by USD 77.5 million.
External liabilities of the NBG decreased by USD 29.8 million (GEL 49.5 million), of which USD 8.3 million (GEL 13.7 million) decline was due to operational changes and USD 21.6 million (GEL 35.8 million) due to exchange rate changes.

External liabilities of banking sector, during the reporting period grew by USD 129 million. The growth by USD 138.5 million was due to operational changes and decline by USD 9.5 million due to other changes. 91.4 percent (USD126.5 million) of total banking sector’s liabilities operational changes is due to increase of short-term external liabilities. USD 11.9 million (8.6 percent) increase of long-term external liabilities of banking sector was due to operational changes.
Other sector’s external liabilities increased by USD 108.5 million of which USD 94.3 million (87 percent of changes in other sector liabilities) was due to growth of nonfinancial corporations’ external liabilities. Other sectors liabilities increased by USD 141 million due to operational changes and by USD 12.3 million due to other changes, and decreased by USD 26.4 million as well as USD 18.4 million due to price and exchange rate changes respectively.

Intercompany lending increased by USD 35.8 million. Operational changes led to increase by USD 54.5 million and exchange rate and other changes led to decrease by USD 10.9 million and by USD 7.9 million respectively.
Increase in foreign liabilities was observed in the foreign currency denominated loans. During the reporting period gross external debt in foreign currency increased by USD 240.3 million and for the end of the period amounted to USD 10.3 billion. External debt denominated in national currency decreased by USD 5.3 million and by the end of reporting period reached USD 510.7 million.

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