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 the June 30, 2008 has reached 6675.4 mln. USD, from which 2184.1million is public sector's debt, 242.0million - National Bank's debt, 1873.5million - Banking sector's debt, 593.8million USD - other sector's debt and 1782.0 million USD is intercompany landing. The 95.6 percent of the Gross External Debt of Georgia is denominated in foreign currency.

During the second quarter of 2008, Gross External Debt of Georgia has grow by 961.6 million USD, from which 525.0 million goes to public sector (54.6% of grown debt), 418.2 million - to banking sector, while the National Bank's indebtedness has decreased by 3.4 million USD. Increase of the liabilities took place mainly in debt expressed in foreign currency (905.4 million USD). As for debt in national currency, it has increased by 56.2 million USD during the period and has reached 294.1 million USD.

Such a heavy grow of public sector external debt was resulted as by new landings (mainly from World Bank), also by issuing eurobonds, which have reached 507.7 million USD with the interest added on in second quarter of 2008. The commercial banks also have mobilized sizeable amounts. The net short-term debts drawn by them had amounted 16.5 million USD, long-term debts - 153.4 million USD. Deposits and other short-term debt liabilities have made up 104.0 million USD.

Unlike to previous period, exchange rate changes has resulted the reduction of external debt. Although the Georgian national currency's exchange rate to Dollar was growing during the period, which resulted increase of the debts in national currency, the slightly decrease of the SDR and Euro's exchange rate to the US Dollar has much stronger effect. The exchange rate change, in whole, have resulted a decrease of the Gross external Debt by 2.5 million USD.