Georgia's gross foreign debt exceeds $7.7 billion
Georgia, Tbilisi, October 2 / Trend N. Kirtskhalia /
Georgia's gross foreign debt consisting of state and foreign debts of private sector hit $7 781,3 million as of June 30, 2009, Georgia's national bank said. About $2325,8 million falls on state debt, the national bank's debt - $647.5 milion, bank sector - $1621,5 million, other sectors - $1142,1 million and debt between companies - $2044,2 million.
About 94.8 percent of gross foreign debt was denominated in foreign currency. Georgia's foreing debt increased $56.6 million in the second quarter, $83.3 million falls on state sector.
The international obligations of other sectors rather increased.
The National Bank and companies' debt increased $24,9 and $22,4 accordingly. But bank sector's debt reduced $114.6 million. Increase of the international obligations was fixed both in foreign and national currency.
Gross foreign debt in foreign currency increased $39.2 million during the second quarter. It hit $7376,6 million by late first six months. Loans in the national currency increased $17.4 million by hitting $404.7 million.
About 70 percent of foreign debt in the state sector is stipulated by exchange rate but 30 percent - by operational changes.
The National Bank's international obligations reduced $1.5 million in the second quarter of 2009. But change of rate caused increase of the National Bank's loans to the amount of $23.9 million.
The international obligations continue to reduce in bank sector.
Short-term debt of bank sector reduced $16.3 million for reporting period but long-term one - for $101.3 million.
Change of the rate caused increase of bank sector's debt to the amount of $3.1 million.
Gross foreign debt on operational changes reduced $61.2 million in the second quarter of 2009. But it increased $119 million as a result of exchange rate change. It was caused by reduction of dollar rate towards euro.
As of August 31, 2009, Georgia's foreign debt hits 5 228 302 000 lari ($1 - 1.69 lari), the Georgian ministry of finances said on October 1.
Georgia owed 3 457 233 000 lari on loans of the international financial institutes. Georgia's total debt hits 916 419 000 lari upon bilateral agreements but 842 900 000 lari on drawn funds under Eurobonds.
The volume of foreign debt on loans drawn under state guarantee hits $11.75 million.
As of July 31, 2009, foreign debt hit 5 145 973 000 lari but - 3 287 779 000 lari in August 2008.
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