External debt of Georgia amounts to $19.7 billion
In the third quarter of 2020 the gross external debt of Georgia increased by $781.5 million. Photo: Nino Alavidze/Agenda.ge.
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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 the third quarter of 2020 the gross external debt of Georgia increased by $781.5 million. Out of that, an $83.3 million increase was caused by price changes, while $48.9 million increase was due to exchange rate changes.
Public sector (general government, public corporations and national bank) external debt amounted to $8.9 billion which is 54.6 percent of gross domestic product (GDP).
Public sector debt was divided as follows:
- debt of the general government - $6.8 billion which is 41.4% of GDP
- external liabilities of the National Bank of Georgia - $457.8 million; 2.8%of GDP
- bonds of public enterprises - $794.9 million; 4.9% of GDP
- Loans of public enterprises - $904.4 million; 5.5% of GDP
Banking sector external debt amounted to $4.4 billion which is 27.2 percent of GDP.
As for other sectors' external debt, it stood at $4.7 billion which amounted to 29.1 percent of GDP.
Meanwhile, intercompany lending amounted to $3.3 billion (19.9 percent of GDP).
91.7 percent of the gross external debt of Georgia was denominated in foreign currency.
The net external debt of Georgia amounted to $11.6 billion which is 71.3 percent of GDP as of 30 September 2020.
Net public sector external debt was 5.1 billion USD (16.8 billion GEL) or 31.4 percent of GDP.
Out of the external debt of the National Bank of Georgia which is $457.8 million as for the third quarter of 2020, $202.7 million are Special Drawing Rights, says the NBG noting that SDR is an international reserve asset created by the International Monetary Fund which has no maturity date, therefore there is no obligation to repay them as long as Georgia is a member of the IMF.
As of December 2019, the external debt of Georgia amounted to $18.6 billion, which was 105.1 per cent of the gross domestic product of the year, says the National Bank of Georgia.
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 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.
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.
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.
Georgia currently owes $20.6 billion in external debt, and this amount is growing, says the National Bank of Georgia (NBG). During the first quarter of 2021, the gross external debt of Georgia increased by $22.6 million.