Georgia, Tbilisi, Dec. 31 / Trend N.Kirtzkhalia/
International investment position of Georgia is negative. International investment position statistics is harmonized with the balance of payments and covers monetary, government, banking sectors. Disclosure of the international investment position began in 2007, and the data contain information from December 31 2005.
Since 2009, the international investment position statistics is published every quarter.
Net international investment position is negative of Georgia late in the third quarter of 2010 amounted to 11.7 billion dollars, compared to the same period last year by 6.9% more as compared with the second quarter of this year - a 2.5% increase.
All assets totalled $ 3.5 billion, hence the 59.7% fall in reserve assets. Reserve assets over the same period last year increased by 5.0% and by September 30 amounted to 2.1 billion dollars.
With regard to the obligations in the reporting period, all liabilities totalled $ 15 billion. Liabilities to direct investors over the same period last year increased by 6.2% and amounted to 7.7 billion dollars. Portfolio investment liabilities over the same period last year increased by 25.7%, mainly due to the Georgian Railways issued Eurobonds and amounted to 1.1 billion dollars. Hence, 500 million - the government Eurobonds.
Compared to the same period last year, by the end of the quarter credit obligations of the National Bank decreased by 4.9% due to reduction of loans from the International Monetary Fund and totalled 665.1 million dollars. Credit obligations of the government sector increased by 23.7% mainly due to long-term debt obligations and IMF loans. At the same time, credit obligations of the banking sector decreased by 12.0%. Hence, long-term debt by 8.5% and short-term - by 41.7%. Compared to the same period last year obligation in the form of cash and deposits increased by 19.9%.
By the end of the third quarter of 2010, other long-term liabilities of the bank amounted to 224.1 million dollars.