Georgia's external debt increased by USD 138 million in March, according to a report published by the Ministry of Finance. As of the statistics, external debt reached USD 8.7 billion as of March 31, 2025.
The main reason for the increase in debt is the currency composition of Georgia's state debt. The fact is that two-thirds of the debt is denominated in Euros, while EUR has kept a sharp strengthening trend over the past month and a half. Due to this, the volume of debt denominated in dollars is also increasing.
If on February 28, 2025, one Euro was worth $1.04, on March 31, it was worth $1.09, which is a 5% depreciation. This depreciation was also reflected in the increase in Georgia's state debt. As of April 14, one Euro is worth $1.14. Accordingly, the volume of external debt will increase in April as well and it might exceed $8.9 billion.
This represents the sharpest increase in Georgia's external debt due to exchange rate differences.
1. Asian Development Bank (ADB) - USD 2,292,574,000
2. World Bank Group - USD 2,126,075,000
3. European Investment Bank (EIB) - USD1,111,208,000
4. France (AFD) - USD 783,587,000
5. Germany (KFW) - USD 582,674,000
6. Eurobond - USD 500,000,000
7. NBG debt to IMF - USD 358,083,000
8. Asian Infrastructure Investment Bank (AIIB) - USD 215,941,000
9. European Bank for Reconstruction and Development (EBRD) - USD 213,452,000
10. Government debt to International Monetary Fund (IMF) - USD 179,042,000
11. European Union (EU) - USD 143,309,000
12. Japan - USD 121,792,000
13. International Fund for Agricultural Development (IFAD) - USD 37,312,000
14. Council of Europe Development Bank (CEB) - USD 15,085,170
15. Austria - USD 10,721,000
16. Kuwait - USD 8,537,000
17. United States of America - USD 5,902,000
18. Russia - USD 3,997,000
19. Nordic Environment Finance Corporation (NEFCO) - USD 3,178,000
20. Turkey - USD 1,139,000
21. Kazakhstan - USD 636,000
22. Azerbaijan - USD 585,000
23. Armenia - USD 516,000
24. Iran - USD 427,000
25. Turkmenistan - USD 211,000
