Georgia's banking sector external debt amounts to 27.4% of GDP
Baku, Azerbaijan, September 28
By Tamilla Mammadova – Trend:
Georgia's banking sector external debt amounted to $4.4 billion (12.6 billion lari) or 27.4 percent of GDP, Trend reports referring to the National Bank of Georgia.
Other sectors' external debt stood at $4.7 billion (13.6 billion lari) or 29.4 percent of GDP, while $3.3 billion (9.3 billion lari) or 20.2 percent of GDP was the intercompany lending.
As reported, 90.2 percent of the gross external debt of Georgia was denominated in foreign currency.
The net external debt of Georgia amounted to $10.4 billion (30 billion lari) or 65 percent of GDP as of June 30 2019. Net public sector external debt was $3.8 billion (10.8 billion lari) or 23.4 percent of GDP.
External liabilities of the National Bank of Georgia increased by $39 million, out of this amount, transactions led to increase of the debt by $38.8 million, exchange rate changes contracted the debt by $0.2 million.
By the end of the second quarter of 2019, the external debt of the National Bank of Georgia amounted to $415.5 million, of which $200.5 million are Special Drawing Rights (SDR).
(1 USD = 2.95 GEL on September 28)