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Georgia’s external debt hits $4.4 billion

Georgia Materials 15 December 2012 10:19 (UTC +04:00)
The amount of Georgia's external debt and loans taken under state guarantee totalled $4.376 billion as of November 30, 2012. According to the Georgian Ministry of Finance, Georgia's public debt has increased by $176.1 million since early 2012. Around $3.954 billion of the total sum is the Georgian government's debt.
Georgia’s external debt hits $4.4 billion

Georgia, Tbilisi, Dec. 13 / Trend N. Kirtzkhalia /

The amount of Georgia's external debt and loans taken under state guarantee totalled $4.376 billion as of November 30, 2012. According to the Georgian Ministry of Finance, Georgia's public debt has increased by $176.1 million since early 2012. Around $3.954 billion of the total sum is the Georgian government's debt.

Georgia has 17 countries as bilateral creditors. The country's total debt is $715.013 million. The creditor countries are: Austria ($8.518 million), Azerbaijan ($13.035), Turkmenistan ($211,000), Turkey ($24.909 million), Iran ($10.189), Russia ($107.395 million), Armenia ($15.516 million), Uzbekistan ($323,000), Ukraine ($295,000), Kazakhstan ($27.774 million), China ($4.825 million), Germany ($313.859 million), Japan ($87.45 million), Kuwait ($24.181 million), the Netherlands ($4.795 million), the U.S. ($32.178 million) and France ($39.560 million).

Besides those countries, Georgia's creditors are international institutions. The total debt is $2.671 billion. In particular, these are the World Bank ($1.294 billion), the International Bank for Reconstruction and Development ($349.657 million), the International Monetary Fund ($395.827 million) and the European Bank for Reconstruction and Development ($97.715 million), the International Fund for Agricultural Development ($24.424 million), the Asian Development Bank ($402.556 million) and the European Investment Bank ($106.556 million).

Moreover, Germany is Georgia's creditor. A loan was taken from the country under a state guarantee worth $3.095 million.

The volume of state securities in circulation - Eurobonds is $564.8 million.

Around $422.687 million of the total external debt falls to the National Bank. Its creditor is the International Monetary Fund.

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