Georgia's gross external debt fell 2.9% q/q to reach GEL34.6bn (€13.3bn) at the end of March, the country's central bank said on June 30. The change mainly reflected the fact that investors turned their debt into equity capital, the regulator adds.
Foreign debt is a concern for the small Georgian economy, which sustains stubbornly high trade deficits and has used foreign borrowing to upgrade and expand its infrastructure. Gross external debt represents 107.1% of GDP, and could negatively affect demand for planned public Eurobond issuances that the government announced for 2016-2017.
Public sector debt makes of 40% foreign debt, representing 45.4% of GDP. At GEL10.7bn, the general government's debt accounted for 33.1% of GDP; the central bank's liabilities were GEL519.6mn; and public enterprises' bonds and loans were GEL1.9bn and GEL1.6bn, respectively.
Georgia's net external debt stood at GEL21.2bn at end-Marhc, or 65.8% of GDP.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Fintech Freedom Holding aims to make France key entry point into EU with €500mn investment
A French banking licence would open the way to a new phase in the international expansion of Nasdaq-listed fintech group Freedom Holding Corp. That’s the expectation of Freedom, a company ... more
Net income at Freedom Holding Corp more than doubles in fiscal 2026
Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more