Gross external debt statistics are harmonized with BOP statistics. They include both public sector (general government, public corporations and national bank) and private sector (banking and other sectors) external debt. External debt statistics are compiled according to the methodology provided by the IMF's "External Debt Statistics: Guide for Compilers and Users" (2003).

The gross external debt of Georgia amounted to 15.7 billion USD (38.3 billion GEL) as of 31 March 2017, 108.2 percent of the last four quarter GDP. During the first quarter of 2017 the gross external debt of Georgia increased by 188.9 million USD. Out of that 148.0 million USD increase were due to exchange rate changes, price and other changes lead to 24.1 and 51.4 0 million USD increase respectively. While operations lead to its reduction by 34.6 million USD.

Public sector external debt amounted to 6.7 billion USD (16.4 billion GEL) or 46.5 percent of GDP. Out of which, debt of the general government amounted to 4.8 billion USD (11.7 billion GEL) or 32.9 percent of GDP. External liabilities of the National Bank of Georgia amounted to 198.1 million USD (484.3 million GEL) or 1.4 percent of GDP. And the bonds and loans of public enterprises were correspondingly: 887.1 million USD (2.2 billion GEL) 6.1 percent of GDP and 876.2 million USD (2.1 billion GEL) 6.1 percent of GDP.

Banking sector external debt amounted to 3.2 billion USD (7.9 billion GEL) or 22.3 percent of GDP; Other sectors' external debt stood at 4.9 billion USD (12.1 billion GEL) or 34.2 percent of GDP; While 2.5 billion USD (6.2 billion GEL) or 17.5 percent of GDP was the intercompany lending. 93.6 percent of the gross external debt of Georgia was denominated in foreign currency.

The net external debt of Georgia amounted to 9.7 billion USD (23.7 billion GEL or 67.1 percent of GDP) as of 31 March 2017. Net public sector external debt was 3.9 billion USD (9.4 billion GEL or 26.7 percent of GDP).

External liabilities of the National Bank of Georgia decreased by 2.2 million USD, out of that, transactions led to decrease of the debt by 4.1 million USD and exchange rate changes led to 1.9 million USD increase. By the end of the first quarter of 2017, the external debt of the National Bank of Georgia amounted to 198.1 million USD, of which 195.4 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.

 

The presented statistical information is published on the website of the National Bank of Georgia under the heading "Statistics": https://www.nbg.gov.ge/index.php?m=306&lng=eng#external