The Gross External Debt of Georgia as of September 30, 2008 consisted of 7,093.4 million US dollars, of which 2,153.8 million US dollars (30.4%) is public sector debt, 467.0 million US dollars (6.6%) is the National Bank of Georgia's (NBG) debt, 1,878.4 million US dollars (26.5%) is the banking sector's debt, 738.1 million US dollars (10.4%) is the debt of other sectors and 1,856.1 million US dollars (26.2%) is inter-company lending. 96.1 percent of the Gross External Debt of Georgia is denominated in foreign currency.  

During the third quarter of 2008, the Gross External Debt of Georgia increased by 386.0 million US dollars, from which 225.0 million US dollars was directed to the NBG (58.3% of the increase). The Public Sector's debt decreased by 30.6 million US dollars. An increase in liabilities was recorded in foreign currency (404.7 million US dollars). As for the debt in the national currency, this decreased by 18.7 million US dollars during the period and totalled 275.4 million US dollars.

The growth of the NBG's debt was caused by a new loan from the International Monetary Fund (256.7 million US dollars), which was decreased by the repayment of a portion of a previous loan (16.3 million US dollars) and the change in exchange rate (15.8 million US dollars). Despite the fact that the Government sector received new loans (mainly from the World Bank) and interest was levied on existingloans, the decrease of external debt in this sector (by 72.3 million US dollars) was caused by the change in currency exchange rates.

Short term debt in the Banking Sector decreased by 110.2 million US dollars and long term debt increased by 86.9 million US dollars. Since the majority of the external debt of the banking sector is denominated in US dollars, the change in the exchange rate caused only a 3.5 million US dollars decrease in the Banking Sector's debt. Additionally, the sector's debt increased by 31.6 million US dollars due to the changes of classification nature, which caused an overall increase of the Banking Sector's external debt of 4.9 million US dollars.

The increase of other sectors‘ external debts caused by operational changes totalled 143.4 million US dollars, from which 131.0 million US dollars is long term and 12.4 million US dollars is short term. Additionally, the other sectors‘ debt decreased by 31.6 million US dollars due to changes of classification nature. The variations caused by the changes in exchange rate were negligible at this stage. Debts received from direct investors caused an increase in inter-company debts of 74.2 million US dollars.

Gross External Debt Statistics is harmonized with the Balance of Payments. It includes public sector (government and money-and-credit bodies) and private sector (banking and other sectors) external debt.