Georgia’s international investment position improves to year end
Georgia, Tbilisi, Jan. 2 / Trend N. Kirtzkhalia /
Georgia's net international investment position was $15.1 billion (-25.0 billion lari) by the end of the third quarter of 2012 or by -$2.0 billion (-3.3 billion lari) more compared to the same period of last year, the Georgian National Bank told Trend today.
The net international investment policy exceeds the index of the same period of last year by -$550.2 million (-1.1 million lari). The operating, pricing, exchange rate and other changes were negative during the reporting period.
As of September 30, 2012, total international assets totalled $5.6 billion (9.3 million lari). Around 52.0 per cent of them hold reserve assets, 28.0 per cent other investments, 19.2 per cent direct investments, and 0.8 per cent portfolio investments and financial components.
Around 19.8 per cent of the assets fall to cash and deposits, 6.1 per cent - commercial loans and 1.8 per cent - loans.
Reserve assets increased by $160.3 million (260.9 million lari) compared to September 2011 and amounted to $2.9 billion (4.8 billion lari) by the end of September 2012. Hence around $189.8 million (313.3 million lari) fell to operational changes, -$28.8 million (-47.6 million lari) - exchange rate changes.
By the end of the reporting period, total liabilities amounted to $20.7 billion (34.3 billion lari), or $2.8 billion (4.6 billion lari) more compared to the same period last year. Liabilities on direct investments increased by 11.2 per cent to $10.3 billion (17.0 billion lari) compared to the same period last year.
Liabilities on portfolio investments increased by 67.5 per cent to reach $2.1 billion (3.4 billion lari). Hence around $660.1 million (1.1 billion lari) fall to the government Eurobonds, $605.2 million (1.0 billion lari) bonds of the Georgian railway and $270.7 million (449.1 million lari) - Eurobonds of the Georgian Oil and Gas Corporation.
Other investments increased by 12.7 per cent to $8.4 billion (13.9 million lari) compared to the same period last year. Around $6.6 billion (11.0 billion lari) fall to loans. By late September 2012, the Georgian National Bank's loans decreased by 33.0 per cent to $429.8 million (713.1 million lari). Credit obligations of the governmental sector increased by 13.3 per cent due to an increase in current liabilities. Credit obligations of the banking sector increased by 5.9 per cent to $1.4 billion (2.3 billion lari).
Other long term liabilities of the Georgian National Bank amounted to $222.0 million (358.4 million lari) by late June 2011.