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 24.5 billion USD (66.2 billion GEL) as of 31st of March 2024. It stood at 78.7 percent of last four quars’  GDP. During the first quarter of 2024 the gross external debt of Georgia increased by 66.5 million USD. Out of that, 275.8 million USD increase was due to transactions and 29.3 and 1.2 mln. USD increase due to price and other changes, while exchange rate changes lead to 239.8  million USD decreace of the debt.

Public sector external debt amounted to 11.1 billion USD (29.8 billion GEL) or 35.5 percent of GDP, out of which, debt of the general government amounted to 8.5 billion USD (23.0 billion GEL) or 27.3 percent of GDP. External liabilities of the National Bank of Georgia amounted to 861.3 million USD (2.3 billion GEL) or 2.8 percent of GDP, and the bonds and loans of public enterprises were correspondingly 459.6 million USD (1.2 billion GEL) or 1.5 percent of GDP and 1.2 billion USD (3.3 billion GEL) and 3.9 percent of GDP.

Banking sector external debt amounted to 7.5 billion USD (20.2 billion GEL) or 24.1 percent of GDP; Other sectors’ external debt stood at 4.7 billion USD (12.6 billion GEL) or 14.9 percent of GDP; While 3.0 billion USD (8.1 billion GEL) or 9.6 percent of GDP was the intercompany lending. 88.8 percent of the gross external debt of Georgia was denominated in a foreign currency.

The net external debt of Georgia amounted to 12.7 billion USD (34.2 billion GEL) or 40.7 percent of the last four quartars’ GDP. Net public sector external debt was 6.3 billion USD (16.9 billion GEL) or 20.1 percent of GDP.

External liabilities of the National Bank of Georgia decreased by 12.9 million USD, out of that, exchange rate changes decreased the debt by 11.5 million USD and transactions lead to its derease by 1.4 thousand USD. By the end of the first quarter of 2024, the external debt of the National Bank of Georgia amounted to 861.3 million USD, of which 460.7 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”.

 

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1Allocated 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.