Gross External Debt Statistics is harmonized with BOP statistics. Besides of public sector debt, it includes private sector’s (Banking and Other sector) external debt.

Gross External Debt of Georgia by June 30 of 2011 amounted to 10497.2 million of USD (17493.6 million of GEL), of which 3580.6 million of USD (5967.0 million of GEL) (34.1%) is public sector debt, 896.4  million of USD(1493.9 million of GEL) (8.5%) - National Bank’s debt, 1821.2 million of USD (3035.0 million of GEL) (17.3%) - Banking sector’s debt, 1760.5 million of USD(2933.8 million of GEL) (16.8%) - other sector’s debt and 2438.5 million of USD(4063.8 million of GEL) (23.2%) is intercompany lending. 95.1 percent of the Gross External Debt of Georgia is denominated in foreign currency.

During the second quarter of 2011, Gross External Debt of Georgia increased by 178.7 million of USD (297.7 million of GEL), In which, operational, and exchange rate changes led to increase in gross external debt of Georgia by 110.1 and  65.7 million of USD respectively (183.4 and 109.4 million of GEL), and price and other changes by 2.9 million of USD (4.9 million of GEL).

Public sector debt grew by 91.4 million of USD (152.2 million of GEL) during the reporting period,  operational changes increased the public sectors external liabilities by 39.6 million of USD (65.9 million of GEL) and exchange rate changes by 28.5 million of USD (47.5 million of GEL).

External liabilities of the National Bank of Georgia increased by 4.9 million of USD (8.2 million of GEL), of which 3.5 million of USD (5.9 million of GEL) decline was due to operational changes and 8.4 million of USD (14.0 million of GEL) grew due to exchange rate changes.

External liabilities of banking sector, during the reporting period grew by 37.8 million of USD (62.9 million of GEL); Long-term loan of the banking sector declined by 52.6 million of USD (87.6 million of GEL).  To the contrary, short-term external liabilities of the banking sector increased by 90.4 million of USD (150.5 million of GEL).  87.8 percent of increased external liabilities of the banking sector, which amounted to 33.2 million of USD (55.3 million of GEL) is due to operational changes. Due to exchange rate changes banking sector external debt increased by 4.6 million of USD (7.6 million of GEL).

Other sectors’ external liabilities increased by 22.4 million of USD (37.3 million of GEL), of which the 16.7 million of USD (27.9 million of GEL) and 74.8 percent grow is on nonfinancial corporations’ external liabilities. Other sectors liabilities decreased due to operational changes by 12.4 million of USD (20.7 million of GEL),  and increace due to exchange rate changes  by 13.8 million of USD (23.0 million of GEL),due to other changes by 12.2 million of USD (20.3 million of GEL),  and due to price changes by 8.8  million of USD (14.7 million of GEL).

Intercompany lending increased by 22.2 million of USD (37.1 million of GEL). In which operational changes is 53.3 million of USD (88.8 million of GEL), exchange rate  changes lead to it’s increace by 10.3 million of USD (17.2 million of GEL) and other changes lead to it’s decreace by 41.4 million of USD (68.9 million of GEL).

Increase in foreign liabilities mainly was observed in loans denominated in foreign currency. During the reporting period gross external debt in foreign currency increased by 167.8 million of USD (279.4 million of GEL) and for the end of the period amounted to 9987.0 million of USD (16643.3 million of GEL). The external debt denominated in national currency increased by 11.0 million of USD (18.3 million of GEL) and by the end of reporting period reached 510.2 million of USD (850.3 million of GEL).