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External liabilities of National Bank of Georgia increase

Finance Materials 29 December 2020 11:26 (UTC +04:00)

BAKU, Azerbaijan, Dec.29

By Tamilla Mammadova – Trend:

The banking sector external debt of Georgia amounted to $4.4 billion (14.6 billion lari) or 27.2 percent of GDP, Trend reports via the National Bank of Georgia (NBG).

Other sectors' external debt stood at $4.7 billion (15.6 billion lari) or 29.1 percent of GDP; while $3.3 billion (10.7 billion lari) or 19.9 percent of GDP was the intercompany lending.

The 91.7 percent of the gross external debt of Georgia was denominated in foreign currency.

The net external debt of Georgia amounted to $11.6 billion (38.3 billion lari) or 71.3 percent of GDP as of September 30, 2020. Net public sector external debt was $5.1 billion (16.8 billion lari) or 31.4 percent of GDP.

External liabilities of the National Bank of Georgia increased by $10.2 million, out of that, exchange rate changes led to an increase of the debt by $10.3 million, transactions have reduced the debt by $35,200.

By the end of the third quarter of 2020, the external debt of the National Bank of Georgia amounted to $457.8 million, of which $202.7 million are Special Drawing Rights (SDR) which have no maturity date, therefore there is no obligation to repay them as long as Georgia is a member of the IMF.

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