Gross external debt statistics are harmonized with BOP statistics. They include both public sector (general government, public corporations and national bank) and private sector (banking and other sectors) external debt. External debt statistics are compiled according to the methodology provided by the IMF's “External Debt Statistics: Guide for Compilers and Users” (2003).
The gross external debt of Georgia amounted to 27.1 billion USD (73.2 billion GEL) as of 31st of March 2026. It stood at 68.7 percent of last four quarters’ GDP. During the first quarter of 2026 the gross external debt of Georgia increased by 252.9 million USD. Out of that, transactions lead to 574.0 million USD increase, while exchange rate changes decrease the debt by 257.1 million USD, price and other changes also lead to reduction of the debt by 12.5 and 51.5 million USD respectively.
Public sector external debt amounted to 11.6 billion USD (31.3 billion GEL) or 29.4 percent of GDP, out of which, debt of the general government amounted to 9.1 billion USD (24.6 billion GEL) or 23.1 percent of GDP. External liabilities of the National Bank of Georgia amounted to 772.8 million USD (2.1 billion GEL) or 2.0 percent of GDP, and the bonds and loans of public enterprises were correspondingly 481.8 million USD (1.3 billion GEL) or 1.2 percent of GDP and 1.2 billion USD (3.4 billion GEL) and 3.2 percent of GDP.
Banking sector external debt amounted to 9.8 billion USD (26.5 billion GEL) or 24.8 percent of GDP; Other sectors’ external debt stood at 5.0 billion USD (13.4 billion GEL) or 12.6 percent of GDP; While 2.5 billion USD (6.6 billion GEL) or 6.2 percent of GDP was the intercompany lending. 85.6 percent of the gross external debt of Georgia was denominated in a foreign currency.
The net external debt of Georgia amounted to 12.5 billion USD (33.8 billion GEL) or 31.8 percent of the last four quarters’ GDP. Net public sector external debt was 5.3 billion USD (14.3 billion GEL) or 13.4 percent of GDP.
External debt of the National Bank of Georgia decreased by 8.1 million USD, out of that, exchange rate changes decreased the debt by 7.5 million USD and transactions lead to its decrease by 617.6 thousand USD. As of the end of the first quarter of 2026, Special Drawing Rights (SDR)1 accounted for USD 470.8 million of the National Bank of Georgia's external liabilities. Since SDRs have no maturity date, there is no obligation to repay them as long as Georgia remains a member of the IMF.
