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 15.1 billion USD (35.3 billion GEL) as of 30 June 2016, 108.7 percent of the last four quarters GDP. During the second quarter of 2016 the gross external debt of Georgia increased by 413.7 million USD. Out of that 386.7 million USD increase was due to transactions.

Public sector external debt amounted to 6.3 billion USD (14.8 billion GEL) or 45.7 percent of GDP. Out of which, the debt of the general government amounted to 4.5 billion USD (10.7 billion GEL) or 32.8 percent of GDP; External liabilities of the National Bank of Georgia amounted to 213.4 million USD (500.0 million GEL) or 1.5 percent of GDP; And the bonds and loans of public enterprises were correspondingly 890.1 million USD (2.1 billion GEL) 6.4 percent of GDP and 684.3 million USD (1.6 billion GEL) 4.9 percent of GDP.

Banking sector external debt amounted to 3.2 billion USD (7.4 billion GEL) or 22.8 percent of GDP; Other sectors' external debt stood at 4.7 billion USD (11.1 billion GEL) or 34.2 percent of GDP; While 2.4 billion USD (5.6 billion GEL) or 17.3 percent of GDP was the intercompany lending. 94.3 percent of the gross external debt of Georgia was denominated in foreign currency.

The net external debt of Georgia amounted to 9.2 billion USD (21.5 billion GEL or 66.3 percent of GDP) as of 30 June 2016. Net public sector external debt was 3.4 billion USD (8.1 billion GEL or 24.8 percent of GDP).

External liabilities of the National Bank of Georgia decreased by 6.0 million USD, out of that, transactions led to decrease of the debt by 4.2 million USD and exchange rate changes led to its decrease by 1.5 million USD. By the end of the second quarter of 2016, the external debt of the National Bank of Georgia amounted to 213.4 million USD, of which 201.4 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