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).
Banking sector external debt amounted to 3.8 billion USD (9.9 billion GEL) or 23.5 percent of GDP; Other sectors’ external debt stood at 5.5 billion USD (14.5 billion GEL) or 34.5 percent of GDP; While 2.5 billion USD (6.5 billion GEL) or 15.4 percent of GDP was the intercompany lending. The 90.4 percent of the gross external debt of Georgia was denominated in foreign currency.
The net external debt of Georgia amounted to 10.2 billion USD (26.5 billion GEL) or 63.2 percent of GDP as of 30 September 2018. Net public sector external debt was 3.9 billion USD (10.3 billion GEL) or 24.5 percent of GDP.
External liabilities of the National Bank of Georgia decreased by 2.2 million USD, out of that, exchange rate changes contracted the debt by 2.7 million USD. Transactions led to increase of the debt by 0.5 million USD. By the end of the third quarter of 2018, the external debt of the National Bank of Georgia amounted to 328.4 million USD, of which 201.2 million USD are Special Drawing Rights (SDR)1, which have no maturity date, therefore there is no obligation to repay them as long as Georgia is a member of the IMF.