30.Jun .2021 17:30

Georgia’s Total Foreign Debt Has Exceeded $20.6 Billion

Georgia’s Total Foreign Debt Has Exceeded $20.6 Billion
views 503
Back

Georgia's total foreign debt is $20.6 billion - this is clear from the report published by the National Bank of Georgia. The volume of foreign debt in GEL is 70.3 billion, 132.9% of GDP in the last four quarters.

According to a report by the National Bank, total foreign debt is $9.9 billion in total debt, while loans and bonds to state-owned enterprises are $ 1.6 billion.
 
As for private-sector debt, Georgian banks' external debt is $ 4.4 billion, while the external debt of other sectors of the economy is $ 4.8 billion.
 
"Government external debt amounted to 9.9 billion US dollars (33.8 billion GEL), which is 64.0 percent of GDP. Of this, the debt to the government sector is 7.6 billion US dollars (26.0 billion GEL; 49.2 percent of GDP), the liabilities of the National Bank - 573.8 million US dollars (GEL 2.0 billion; 3.7 percent of GDP), while bonds and loans to state-owned enterprises amounted to the US $ 797.1 million (GEL 2.7 billion; GEL 5.1 percent of GDP) and US $ 925.4 million (GEL 3.2 billion; GDP 6.0 percent).
 
The external debt of the banking sector amounted to USD 4.4 billion (GEL 15.0 billion; 28.5 percent of GDP), the external debt of other sectors - USD 4.8 billion (GEL 16.4 billion; 31.1 percent of GDP) and the inter-corporate debt - USD 3.2 billion ( 10.8 billion GEL; 20.5 percent of GDP). 92.6 percent of total external debt is denominated in foreign currency.

As of March 31, 2021, Georgia's net foreign debt amounted to 12.3 billion US dollars (42.0 billion GEL), which is 79.4 percent of GDP for the last four quarters. Of this, net external debt to the public sector is $ 5.8 billion ($ 19.7 billion), or 37.3 percent of GDP.

In the first quarter of 2021, the external debt of the National Bank of Georgia decreased by $ 9.4 million. Out of this, debt due to operating changes decreased by USD 39.0 thousand, and due to exchange rate changes, the external liabilities of the National Bank decreased by USD 9.4 million. At the end of the first quarter of 2021, the total foreign liabilities of the National Bank amounted to 573.8 million US dollars. Of this, $ 204.0 million is a Special Loan Distributed, which has no repayment period and is virtually unpaid until Georgia is a member of the International Monetary Fund," the National Bank said in a statement.