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 March 31 of 2011 amounted to 10184.6 million of USD, of which 3485.6 million of USD (34.2%) is public sector debt, 891.4 million of USD (8.8%) - National Bank’s debt, 1778.5 million of USD (17.5%) - Banking sector’s debt, 1746.0 million of USD (17.1%) - other sector’s debt and 2283.1 million of USD (22.4%) is intercompany lending. 95.1 percent of the Gross External Debt of Georgia is denominated in foreign currency.

During the first quarter of 2011, Gross External Debt of Georgia increased by 462.1 million of USD, In which, operational, and exchange rate changes led to increase in gross external debt of Georgia by 280.9 and  153.9 million of USD respectively, and price and other changes by 27.3 million of USD.

Public sector debt grew by 142.9 million of USD during the reporting period,  operational changes increased the public sectors external liabilities by 51.9 million of USD and exchange rate changes by 74.0 million of USD.

External liabilities of the National Bank of Georgia increased by 15.0 million of USD, of which 10.7 million of USD decline was due to operational changes and 25.7 million of USD grew due to exchange rate changes.

External liabilities of banking sector, during the reporting period grew by 184.5 million of USD; Long-term loan of the banking sector declined by 51.3 million of USD.  To the contrary, short-term external liabilities of the banking sector increased by 235.8 million of USD.  96.6 percent of increased short-term external liabilities of the banking sector, which amounted to 227.9 million of USD is due to operational changes. Due to exchange rate changes banking sector external debt increased by 9.0 million of USD.

Other sectors’ external liabilities increased by 56.1 million of USD, of which the 6.5 million of USD and 11.7 percent grow is on nonbanking financial organizations’ external liabilities. Other sectors liabilities increased due to operational changes by 23.3 million of USD,  due to exchange rate changes  by 27.7 million of USD and due to price and other changes by 5.0  million of USD.

Intercompany lending increased by 63.7 million of USD. In which operational changes is 40.9 million of USD,  17.5 million of USD and 5.2 million of USD are exchange rate and other changes respectively.

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 443.4 million of USD and for the end of the period amounted to 9681.0 million of USD. The external debt denominated in national currency increased by 18.7 million of USD and by the end of reporting period reached 503.6 million of USD.