International Investment Position of Georgia down

Business Materials 28 March 2020 10:28 (UTC +04:00)
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.


Follow the author on Twitter: @Mila61979356