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Review of Georgia's external debt

Finance Materials 10 April 2020 20:04 (UTC +04:00)
Review of Georgia's external debt

BAKU, Azerbaijan, April 10

By Tamilla Mammadova - Trend:

Georgia's external debt amounted to $1.062 billion as of April 1, 2020, Trend reports referring to the National Bank of Georgia (NBG).

As reported, the state debt accounts for only $33.5 million of this amount, the rest are corporate business debts. Commercial banks account for the largest share of debt - $597.8 million, other sectors of the economy - $174.4 million.

According to NBG, $256.1 million are foreign investment and inter-corporate debt.

From $1.065 billion, $891.3 million is the principal amount of debt while interest accounts for $170.9 million.

As of March 1, 2020, the banking sector in Georgia was represented by 15 commercial banks, including 14 foreign-controlled banks.

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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