Georgia's Debt to Int'l Donors Amounts to GEL11 Billion

By the end of 2019, Georgia's debt to international financial institutions (multilateral creditors) will amount to approximately GEL 10 billion. 

This amount is stated in the first version of the State budget project, where the exchange rate used to repay the debts will be USD 1 = GEL 2.63.

According to the draft budget, Georgia has a debt to nine multilateral creditors. The largest among these is the World Bank, whose expected debt balance amounts to GEL 5 billion. 

Below is the full list of Georgia's creditors and respective debt amounts (in GEL, thousands):

1. World Bank (WB) - 5,182,417

2. International Fund for Agriculture Development (IFAD) - 87,140

3. European Bank for Reconstruction and Development (EBRD) - 413,450

4. Asian Development Bank (ADB) - 3,361,880

5. European Investment Bank (EIB) - 1,456,682

6. EU (EU) - 177,588

7. Council of Europe Development Bank (CEB) - 1,500

8. Asian Infrastructure Investment Bank (AIIB) - 67,355

9. Nordic Environment Finance Corporation (NEFCO) - 31.12.20

According to the first version of the 2019 year budget, the state debt of Georgia will equal GEL 19 billion by the end of next year. The amount will include the marginal value of the state external debt, equaling GEL 15,315.8 million, and the state domestic debt - GEL 4,400 million. 

By next year, the Government will have GEL 2 billion, from which GEL 500 million will include securities or internal debt. 

In 2019, GEL 930 million will be allocated to the repayment of the state debt. Accordingly, the net debt of the state debt will equal GEL 1,230 million.

By Anna Zhvania

Source: BM