Government’s external debt has tripled in the last 8 years
Government external debt amounted to 3.2 billion GEL ($1.5 billion) by the end of 2003 and by December 31, 2012 it had increased to 6.6 billion GEL ($3.9 billion), more than doubling in nine years. Photo: Nino Alavidze/Agenda.ge.
Tweet 
Share
The amount of the external debt of the Georgian government borrowed within the last eight years amounts to 13.3 billion GEL ($4.1 bln/€3.5 bln), thus the total amount of government’s external debt is now three times more than it was eight years ago.
As of August 2020, government external debt amounted to 19.9 billion GEL ($6.5 billion), while it was 15.7 billion GEL ($5.4 billion) as of December 31, 2019.
The external debt of the government will increase by an additional 6.1 billion GEL by the end of 2020.
Government external debt amounted to 3.2 billion GEL ($1.5 billion) by the end of 2003 and by December 31, 2012 it had increased to 6.6 billion GEL ($3.9 billion), more than doubling in nine years.
Georgia will have a three-year grace period to repay foreign debts taken on amid the coronavirus crisis, said Deputy Finance Minister Giorgi Kakauridze earlier today.
Georgia currently owes $18.3 billion in external debt, says the National Bank of Georgia (NBG). During the first quarter of 2020, the gross external debt of Georgia decreased by $350.9 million.
Experts from Deloitte have analysed Georgian fiscal, monetary and sectoral economic policies and given recommendations to the Georgian government at an online meeting with Georgian Prime Minister Giorgi Gakharia earlier today.
The government of Georgia will take a new loan worth 4.47 billion GEL to handle the crisis caused by the coronavirus pandemic, according to the anti-crisis budget for 2020 presented today.
Georgia currently owes $18.8 billion in external debt, says the National Bank of Georgia (NBG). During the second quarter of 2020 the gross external debt of Georgia increased by $435 million. Out of that $202 million increase was due to exchange rate changes, $199.4 million decrease was due to transactions, $33.2 million increase due to price changes and $370,500 - due to other changes.
The gross external debt of Georgia amounted to $19.7 billion as of September 30 which constituted 120.4 percent of the last four quarters' gross domestic product, says the National Bank of Georgia.
In order to effectively manage public debt, the Georgian government is preparing for the issuance of a new Eurobond, announces Georgian Prime Minister Irakli Garibashvili.
Georgia currently owes $20.3 billion in external debt, and this amount is growing, says the National Bank of Georgia (NBG). During the fourth quarter of 2020, the gross external debt of Georgia increased by $640.1 million.