The National Bank of Georgia published updated gross external debt statistics, harmonised with balance of payments data and compiled under the IMF’s External Debt Statistics Guide (2003). Georgia’s gross external debt stood at USD 26.9 billion (GEL 72.4 billion) at 31 December 2025, equivalent to 70.4% of 2025 annual GDP, and fell by USD 352.7 million during the fourth quarter of 2025. Public sector external debt totalled USD 11.7 billion (30.7% of GDP), including USD 9.2 billion for the general government (24.1% of GDP) and USD 780.9 million in external liabilities of the National Bank of Georgia (2.0% of GDP). Public enterprise external debt included USD 473.1 million in bonds and USD 1.3 billion in loans. Private sector components included USD 9.5 billion in banking sector external debt (24.8% of GDP), USD 5.0 billion for other sectors (13.0% of GDP) and USD 2.4 billion in intercompany lending (6.4% of GDP), with 86.7% of total gross external debt denominated in foreign currency; net external debt was USD 12.6 billion (33.1% of GDP), including USD 5.6 billion for the net public sector position (14.6% of GDP). The National Bank of Georgia also reported that its external liabilities declined by USD 38.6 million over the period and ended 2025 at USD 780.9 million, of which USD 475.5 million was Special Drawing Rights allocations that have no maturity date. The statistics are available on the National Bank of Georgia’s website under “Statistics”.

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