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 15.0 billion USD (35.9 billion GEL) as of 31 December 2015, 107 percent of the last four quarters GDP. During the fourth quarter of 2015 the gross external debt of Georgia increased by 357.0 million USD. Out of that 441.1 million USD increase was due to transactions.

Public sector external debt amounted to 6.0 billion USD (14.5 billion GEL) or 43.3 percent of GDP. Out of which, the debt of the general government amounted to 4.4 billion USD (10.5 billion GEL) or 31.5 percent of GDP; External liabilities of the National Bank of Georgia amounted to 219.2 million USD (525.1million GEL) or 1.6 percent of GDP; And the bonds and loans of public enterprises were correspondingly 782.5 million USD (1.9 billion GEL) 5.6 percent of GDP and 650.3 million USD (1.6 billion GEL) 4.7 percent of GDP.

Banking sector external debt amounted to 2.9 billion USD (7.1 billion GEL) or 21.1 percent of GDP; Other sectors' external debt stood at 4.4 billion USD (10.6 billion GEL) or 31.8 percent of GDP; While 3.0 billion USD (7.2 billion GEL) or 21.5 percent of GDP was the intercompany lending. 94.7 percent of the gross external debt of Georgia was denominated in foreign currency.

The net external debt of Georgia amounted to 9.4 billion USD (22.5 billion GEL or 67.3 percent of GDP) as of 31 December 2015. Net public sector external debt was 3.5 billion USD (8.3 billion GEL or 25.0 percent of GDP).

External liabilities of the National Bank of Georgia decreased by 6.7 million USD, out of that, transactions led to decrease of the debt by 3.8 million USD. By the end of the fourth quarter of 2015, the external debt of the National Bank of Georgia amounted to 219.2 million USD, of which 199.5 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

 

¹ Allocated 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.