The National Bank of Georgia published updated gross external debt statistics, harmonized with balance of payments data and compiled under the International Monetary Fund’s External Debt Statistics Guide. As of 31 March 2025, Georgia’s gross external debt stood at USD 25.5 billion (GEL 70.5 billion), equal to 74.2% of GDP for the last four quarters, up USD 300.4 million over the first quarter of 2025. The quarterly increase reflected decreases of USD 19.1 million from transactions and USD 91.5 million from other changes, offset by increases of USD 381.8 million from exchange rate changes and USD 29.2 million from price changes. Public sector external debt totalled USD 11.0 billion (32.0% of GDP), including general government debt of USD 8.5 billion (24.7% of GDP) and National Bank of Georgia external liabilities of USD 822.8 million (2.4% of GDP), of which USD 461.6 million were allocated Special Drawing Rights with no maturity date. Banking sector external debt was USD 8.6 billion (25.1% of GDP), other sectors USD 4.9 billion (14.2% of GDP), and intercompany lending USD 2.7 billion (7.8% of GDP); 88.6% of gross external debt was denominated in foreign currency. Net external debt was reported at USD 13.3 billion (38.7% of GDP), including net public sector external debt of USD 6.7 billion (19.4% of GDP).
National Bank of Georgia 2025-06-30
National Bank of Georgia publishes March 2025 gross external debt statistics showing USD 25.5 billion outstanding
The National Bank of Georgia released updated gross external debt statistics, showing a total of USD 25.5 billion (GEL 70.5 billion) as of 31 March 2025, representing 74.2% of GDP. The increase in debt was primarily driven by exchange rate changes, with public sector debt at USD 11.0 billion and banking sector debt at USD 8.6 billion. Notably, 88.6% of the gross external debt was denominated in foreign currency.