Georgian gross external debt at $18.2 billion in January-June 2019

In the second quarter of 2019, the gross external debt increased by $385.3 mln and reached $18.2 billion as of June 30, says the National Bank of Georgia.

The external debt of the public sector amounted to $7.5 billion from which:

• Debt of the general government - $5.4 billion
• External liabilities of the National Bank of Georgia - $415.5 million
• Bonds of public enterprises - $826.4 million
• Loans of public enterprises - $894.1 million

External debt of the banking sector amounted to $4.4 billion. Intercompany lending equalled to $3.3 billion, while other sectors’ external debt was $4.7 billion.

90.2 per cent of the gross external debt of Georgia is denominated in foreign currency.

As of June 30, the net external debt of Georgia amounted to $10.4 billion, from which net external debt of the public sector was 3.8 $billion.

Georgian international investment position (IIP) amounted to -$22.8 billion for June 30, 2019. 

An IIP is a financial statement that explains the value and composition of a country’s external financial assets and liabilities. A positive IIP value indicates that a nation is a creditor nation, while a negative value indicates it is a debtor nation, as is the case for Georgia.