Georgia’s total public debt stood at $9.1 billion as of May 2026, according to data published by the Ministry of Finance. The figure is $95 million lower than in April but $158 million higher year-on-year.
Currency movements largely drove the monthly decline. During May, the Euro, which accounts for roughly two-thirds of Georgia’s external debt portfolio, depreciated against the U.S. dollar, reducing the dollar value of outstanding debt.
However, debt levels are expected to rise in June following the government’s signing of a $373 million financing agreement with the World Bank on June 10 for the modernization of Georgian Railway infrastructure and the Kakheti Expressway project. The government also plans to secure a total of $751 million from the World Bank, Asian Development Bank (ADB), and Asian Infrastructure Investment Bank (AIIB) to support logistics and transport development.
International financial institutions remain Georgia’s largest creditors. The Asian Development Bank is the country’s biggest lender with $2.5 billion in outstanding loans, followed by the World Bank with $2.3 billion. Among bilateral creditors, France’s development agency (AFD) ranks first, with Georgia owing approximately $855 million.
