International Investment Position of Georgia down
BAKU, Azerbaijan, March 28
By Tamilla Mammadova – Trend:
The net international investment position (IIP) of Georgia amounted to -$23.8 billion in 2019, Trend reports via National Bank of Georgia.
As reported, this accounted for -134.2 percent of the last year GDP.
Net IIP dropped by $1 billion compared to the previous quarter.
International assets amounted to $10.7 billion by December 31 2019, up by $331.9 million quarterly.
Liabilities increased by $1.4 billion during the quarter totaling $34.5 billion.
As of March 1, 2020, the banking sector in Georgia is represented by 15 commercial banks, including 14 foreign-controlled banks.
The total assets of Georgian commercial banks (in current prices) decreased by 428.46 million lari, ($129.2 million) or by 0.92 percent in February 2020, compared to the previous month and stood at 46.23 billion lari ($13.9 billion).
The banking sector’s equity capital equals to 5.95 billion lari ($1.7 billion), which makes up 12.88 percent of the commercial banks' total assets.
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