Georgia's external debt contracted to $8.58 billion
As of December 2024, Georgia’s foreign debt exceeded $8.588 billion (GEL 24.106 billion at today's exchange rate) that is $316 million less compared to the same period of last year.
More specifically, according to the Ministry of Finance of Georgia, as of December 2023, the volume of the state debt amounted to $8.907 billion, at the then exchange rate it was GEL 23.956 billion.
As of December 2024, the government debt stood at $8.237 billion, of which the debt of multilateral creditors is $6.255 billion, the debt of bilateral creditors is $1.481 billion. It’s worth mentioning that in the reporting period, the National Bank of Georgia’s foreign liability amounted to $351.464 million.
Apart from that, as of December 2024, Georgia’s biggest creditors are: Asian Development Bank (ADB), European Investment Bank (EIB) and International Bank for Development (IBRD).
Major creditors as of December 31, 2024:
• Asian Development Bank (ADB) – 2.269 billion dollars
• World Bank, International Bank for Reconstruction and Development (IBRD) – 1.637 billion dollars
• European Investment Bank (EIB) – 1.079 billion dollars
• World Bank, International Development Association (IDA) – 474.8 million dollars
• International Monetary Fund (IMF) - 175.7 million dollars
As for bilateral creditors, i.e. countries, as of December 31, 2024, Georgia has the largest amount of debt to France:
• France - 766 million dollars
• Germany - 557.6 million dollars
• Japan - 117.8 million dollars
• Austria - 10.3 million dollars
• Kuwait - 8.96 million dollars
Besides, Georgia owes $7.870 million to Russia, $2.242 million to Turkey, $1.252 million to Kazakhstan, etc.
