The National Bank of Georgia published updated external debt statistics, harmonized with balance of payments data and compiled under the IMF’s “External Debt Statistics: Guide for Compilers and Users” (2003). As of June 30, 2025, Georgia’s gross external debt totalled USD 26.5 billion (GEL 72.3 billion), equal to 75.1% of GDP over the last four quarters. Gross external debt increased by USD 1.1 billion in the second quarter of 2025, driven mainly by exchange rate changes (USD 815.5 million), alongside transactions (USD 74.8 million), price changes (USD 18.6 million) and other changes (USD 144.1 million). Public sector external debt stood at USD 11.5 billion (32.4% of GDP), including general government debt of USD 8.9 billion (25.3% of GDP) and National Bank of Georgia external liabilities of USD 821.1 million (2.3% of GDP). Banking sector external debt was USD 9.1 billion (25.8% of GDP), other sectors’ external debt was USD 4.9 billion (14.0% of GDP), and intercompany lending was USD 2.7 billion (7.7% of GDP), with 87.0% of gross external debt denominated in foreign currency. Net external debt totalled USD 13.8 billion (39.0% of GDP), including net public sector external debt of USD 6.8 billion (19.2% of GDP); the central bank’s external liabilities decreased by USD 1.7 million over the quarter, and included USD 477.2 million in Special Drawing Rights with no maturity date.
National Bank of Georgia 2025-09-30
National Bank of Georgia publishes end-June 2025 external debt statistics showing gross external debt at USD 26.5 billion
The National Bank of Georgia released updated external debt statistics, showing Georgia's gross external debt at USD 26.5 billion (75.1% of GDP) as of June 30, 2025. The increase of USD 1.1 billion in Q2 2025 was mainly due to exchange rate changes. Public sector external debt was USD 11.5 billion, with significant portions in general government debt and National Bank liabilities.