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Total external debt of Georgia up

Finance Materials 13 July 2020 18:13
Total external debt of Georgia up

BAKU, Azerbaijan, July 13

By Tamilla Mammadova – Trend:

As of July 1, the total external debt of Georgia increased by $163,260, amounting to $6.14 million, Trend reports via the Ministry of Finance of Georgia.

The debt of Georgia to Azerbaijan reaches $6.10 million. In a monthly comparison, the debt of Georgia to Azerbaijan decreased by $184,000.

Georgia’s debt to Germany amounts to $372.39 million, to France - $457.18 million and to Japan - $213.37 million.

Georgia’s debt to Turkey and Russia decreased in a monthly comparison, amounting to $11.78 million and $46.01 million, respectively.

Georgian banking sector external debt amounted to $4.4 billion or 25 percent of gross domestic product (GDP) as of March 31, 2020.

In the 1Q202, other sectors' external debt exceeded $4.4 billion and stood at 25.2 percent of GDP, while $3.3 billion or 18.7 percent of GDP was the intercompany lending.

As reported, 89.8 percent of the gross external debt of Georgia was denominated in foreign currency.

The net external debt of Georgia amounted to $10.6 billion or 60 percent of GDP as of March 31, 2020. Net public sector external debt was $4.3 billion or 24.6 percent of GDP.

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