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 USD 27.3 billion (GEL 74.4 billion) as at 30 of September 2025. It stood at 74.2 percent of last four quartes’ GDP. During the third quarter of 2025 the gross external debt of Georgia increased by USD 807.4 million. Out of that, transactions and price changes lead to 743.1 and USD 44.5 million increase of the debt, and 19.3 and USD 0.4 million increase was due to exchange rate and other changes, subsequently.

Public sector external debt amounted to USD 11.6 billion (GEL 31.4 billion) or 31.5 percent of GDP, out of which, debt of the general government amounted to USD 9.1 billion (GEL 24.5 billion) or 24.6 percent of GDP. External liabilities of the National Bank of Georgia amounted to USD 819.5 million (GEL 2.2 billion) or 2.2 percent of GDP, and the bonds and loans of public enterprises were correspondingly USD 474.3 million (GEL 1.3 billion) or 1.3 percent of GDP and USD 1.2 billion (GEL 3.4 billion) and 3.4 percent of GDP.

Banking sector external debt amounted to USD 9.4 billion (GEL 25.4 billion) or 25.5 percent of GDP; Other sectors’ external debt stood at USD 5.3 billion (GEL 14.3 billion) or 14.3 percent of GDP; While USD 2.8 billion (GEL 7.5 billion) or 7.6 percent of GDP was the intercompany lending. 87.6 percent of the gross external debt of Georgia was denominated in a foreign currency.

The net external debt of Georgia amounted to USD 13.0 billion (GEL 35.3 billion) or 35.4 percent of the last four quarter’s’ GDP. Net public sector external debt was USD 6.2 billion (GEL 16.7 billion) or 16.8 percent of GDP.

External liabilities of the National Bank of Georgia decreased by USD 1.6 million, out of that, exchange rate changes lead to debt’s decrease by USD 1.8 million and transactions increased the debt by USD 225.3 thousand. By the end of the third quarter of 2025, the external debt of the National Bank of Georgia amounted to USD 819.5 million, of which USD 476.1 million 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.