International Investment Position statistics is harmoniesed with balance of paymenets statistics and covers monetary authority, government, banking and other sectors. International investment position statistics is published since 2007 annually (data was covered since 2006). Starting from 2009 international investment position statistics is published quarterly. From the second quarter of 2011 published series on IIP covers data from 2000.

Net international investment position (IIP) of Georgia by the end of the second quarter of 2011 amounted to -13.3 billion of USD (-22.1 billion GEL) that is -1.8 billion USD (3.1 billion GEL) increase on yearly base. Of total growth, 73.6 percent was due to operational changes; 17.9 percent – due to exchange rate changes; 3.7 percent – due to price changes, and 4.8 percent – due to other changes. Total international assets amounted to 3.8 billion of USD (6.3 billion GEL), of which 73.1 percent consists of reserve assets; 14.0 percent – currency and deposits; 7.8 percent – trade credits; 2.8 percent – loans, and 2.1 percent – direct investments. Reserve assets increased by 894.8 million of USD (1.6 billion GEL), that is 48.0 percent growth on yearly basis. Reserve assets amounted to 2.8 billion of USD (4.6 billion GEL) by the end of the reporting period, of which 751.5 million of USD (1.3 billion GEL) was due to operational changes; 141.2 million of USD (248.1 million GEL)– due to exchange rate changes, and 2.1 million of USD (3.7 million GEL) – due to other changes.

As for liabilities, for the same period, total liabilities amounted to 17.0 billion of USD (28.4 billion GEL), that is 2.5 billion USD (4.4 billion GEL) increase on yearly base.  Liabilities to direct investors increased by 13.9 percent and amounted to 8.7 billion of USD (14.4 billion GEL). Portfolio investment liabilities grew by 49.3 percent yearly, mainly due to issue of Eurobonds by Georgian Railways. Portfolio investment liabilities amounted to 1.3 billion of USD (2.1 billion GEL), of which 550.6 million of USD (967.6 million GEL) is government Eurobonds.

By the end of the reporting period, as compared to the preceding year, other investments liabilities increased by 17.3 percent and amounted to 7.1 billion of USD (11.8 billion GEL). From that amount loans comprised 5.8 billion of USD (9.7 billion GEL). Monetary authorities’ loans increased by 4.0 percent as compared to the second quarter of 2010 due to exchange rate changes and amounted to 665.8 million of USD (1.1 billion GEL). External liabilities of public sector grew by 27.4 percent due to International Monetary Fund credits and other long term liabilities. Banking sector loans increased by 7.7 percentage points, of which long term liabilities declined by 6.7 percent while short-term liabilities almost tripled and amounted to 252.5 million USD (421.5 million GEL). Cash and deposits liabilities increased by 73.3 percentage points compared to the previous year.

By the end of the second quarter of 2011, the other long term liabilities of the National Bank of Georgia reached 230.6 million of USD (405.3 million GEL), which is the allocation of Special Drawing Rights (SDR).