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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