The Ministry of Finance of Georgia published a financial document. As of March 2023, the external of Georgia amounted to USD 8.47 billion. Y-O-Y, the state foreign debt increased by 390 million in USD, while decreasing by 3.3 billion in GEL. The main reason for this was the strengthening of the national currency against USD and EUR.
The Asian Development Bank’s (ADB) credit ranks first in Georgia's foreign debt, which the country took to develop the largest infrastructure projects. The World Bank Group is in second place, the WB credits are mainly used for infrastructure projects as well. The European Investment Bank is in third place.
Whose Debt Does Georgia Own? - Statistics
● Asian Development Bank (ADB) - USD 2.09 billion;
● World Bank Group - USD 1.99 billion;
● European Investment Bank (EIB) - USD 1 billion;
● France - USD 748 million;
● Germany - USD 642 million;
● Eurobond - USD 500 million;
● The International Monetary Fund (IMF) - USD 433 million;
● European Bank for Reconstruction and Development (EBRD) - USD 233 million;
● Asian Infrastructure Investment Bank (AIIB) - USD 200 million;
● Government debt to the IMF - USD 198 million;
● Japan - USD 154 million;
● European Union (EU) - USD 145 million;
● International Fund for Agricultural Development (IFAD) - USD 37 million;
● Russia - USD 19 million;
● Austria - USD 15 million;
● Council of Europe Development Bank (CEB) - USD 13 million;
● Kuwait - USD 12 million;
● United States of America - USD 10.5 million;
● Turkey - USD 5.3 million;
● Kazakhstan - USD 3.0 million;
● Azerbaijan - USD 2.7 million;
● Armenia - USD 2.4 million;
● Nordic Environmental Finance Corporation (NEFCO) - USD 2.0 million;
● Iran - USD 2.0 million.
