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 25.3 billion USD (69.1 billion GEL) as of September 30 2024. It stood at 76.9 percent of last four quarters’ GDP. During the third quarter of 2024 the gross external debt of Georgia increased by 734.1 million USD. Out of that, 450.7 million USD increase was due to exchange rate changes, 291.0 million USD increase - due to transactions and 40.0 million USD - due to price changes. Meanwhile the debt decreased by 47.7 million USD due to other changes.

Public sector external debt amounted to 11.4 billion USD (31.1 billion GEL) or 34.6 percent of GDP. Out of which, debt of the general government amounted to 8.8 billion USD (24.1 billion GEL) or 26.9 percent of GDP. External liabilities of the National Bank of Georgia amounted to 862.0 million USD (2.4 billion GEL) or 2.6 percent of GDP, and the bonds and loans of public enterprises were correspondingly 459.3 million USD (1.3 billion GEL) or 1.4 percent of GDP and 1.2 billion USD (3.4 billion GEL) and 3.7 percent of GDP.

Banking sector external debt amounted to 7.9 billion USD (21.5 billion GEL) or 23.9 percent of GDP; Other sectors’ external debt stood at 5.0 billion USD (13.6 billion GEL) or 15.2 percent of GDP; While 2.7 billion USD (7.5 billion GEL) or 8.3 percent of GDP was the intercompany lending. The 88.6 percent of the gross external debt of Georgia was denominated in a foreign currency.

The net external debt of Georgia by September 30 2024, amounted to 12.3 billion USD (33.6 billion GEL) or 37.3 percent of GDP. Among which, net public sector external debt was 6.7 billion USD (18.2 billion GEL) or 20.3 percent of GDP.

External liabilities of the National Bank of Georgia increased by 26.1 million USD, mainly as a result of exchange rate changes. By the end of the third quarter of 2024, the external debt of the National Bank of Georgia amounted to 862.0 million USD, of which 471.8 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.