Gross External Debt of Georgia
The gross external debt of Georgia amounted to 15.3 billion USD (35.7 billion GEL) as of 30 September 2016, 108.8 percent of the last four quarters GDP. During the third quarter of 2016 the gross external debt of Georgia increased by 173.2 million USD. Out of that 108.6 million USD increase was due to transactions.
Public sector external debt amounted to 6.5 billion USD (15.0 billion GEL) or 45.8 percent of GDP. Out of which, debt of the general government amounted to 4.6 billion USD (10.8 billion GEL) or 33.0 percent of GDP; External liabilities of the National Bank of Georgia amounted to 210.8 million USD (491.1 million GEL) or 1.5 percent of GDP; And the bonds and loans of public enterprises were correspondingly, 901.0 million USD (2.1 billion GEL) 6.4 percent of GDP and 697.2 million USD (1.6 billion GEL) 4.9 percent of GDP.
Banking sector external debt amounted to 3.0 billion USD (7.1 billion GEL) or 21.5 percent of GDP; Other sectors' external debt stood at 5.0 billion USD (11.7 billion GEL) or 35.7 percent of GDP; While 2.4 billion USD (5.6 billion GEL) or 17.1 percent of GDP was the intercompany lending. 93.4 percent of the gross external debt of Georgia was denominated in foreign currency.
The net external debt of Georgia amounted to 9.3 billion USD (21.6 billion GEL or 65.7 percent of GDP) as of 30 September 2016. Net public sector external debt was 3.6 billion USD (8.3 billion GEL or 25.3 percent of GDP).
External liabilities of the National Bank of Georgia decreased by 2.7 million USD, out of that, transactions led to decrease of the debt by 2.2 million USD and exchange rate changes led to 467.3 thousand USD decrease. By the end of the third quarter of 2016, the external debt of the National Bank of Georgia amounted to 210.8 million USD, of which 201.0 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
under the heading "Statistics": https://www.nbg.gov.ge/index.php?m=306&lng=eng#external
1Allocated SDR is international reserve asset created by the IMF that is allocated to member countries in proportion to their IMF quotas. Allocated SDR is a liability that has no maturity date, therefore there is no obligation to repay them as long as the country is a member of the IMF. The amount of the above mentioned allocated SDR is presented in the assets of the National Bank and thereafter the net liability of the National Bank equals zero. From 2009, the IMF changed its methodological treatment towards SDR and, according to the new approach, allocated SDR is also recorded in liabilities.