The gross external debt of Georgia amounted to 26.9 billion USD (72.4 billion GEL) as of 31st of December 2025. It stood at 70.4 percent of the annual 2025 GDP, the National Bank of Georgia (NBG) reported.

According to the NBG, during the fourth quarter of 2025, the gross external debt of Georgia decreased by 352.7 million USD. Out of that, due to transactions debt decreased by 440.1 million USD, and due to other changes by 14.6 million USD. At the same time, exchange rate changes led to an increase of 72.7 million USD and price changes by 29.4 million USD.

“Public sector external debt amounted to 11.7 billion USD (31.6 billion GEL) or 30.7 percent of GDP, out of which, debt of the general government amounted to 9.2 billion USD (24.8 billion GEL) or 24.1 percent of GDP. External liabilities of the National Bank of Georgia amounted to 780.9 million USD (2.1 billion GEL) or 2.0 percent of GDP, and the bonds and loans of public enterprises were correspondingly 473.1 million USD (1.3 billion GEL) or 1.2 percent of GDP and 1.3 billion USD (3.4 billion GEL) and 3.3 percent of GDP.

Banking sector external debt amounted to 9.5 billion USD (25.5 billion GEL) or 24.8 percent of GDP; Other sectors’ external debt stood at 5.0 billion USD (13.4 billion GEL) or 13.0 percent of GDP; While 2.4 billion USD (6.6 billion GEL) or 6.4 percent of GDP was the intercompany lending. 86.7 percent of the gross external debt of Georgia was denominated in a foreign currency.

The net external debt of Georgia amounted to 12.6 billion USD (34.0 billion GEL) or 33.1 percent of the 2025 annual GDP. Net public sector external debt was 5.6 billion USD (15.0 billion GEL) or 14.6 percent of GDP.

External liabilities of the National Bank of Georgia decreased by 38.6 million USD, out of that, transactions led to a decrease in external debt by 37.5 million USD and exchange rate changes led to a decrease by 1.0 million USD. By the end of 2025, the external debt of the National Bank of Georgia amounted to 780.9 million USD, of which 475.5 million USD are Special Drawing Rights (SDR), which have no maturity date, therefore, there is no obligation to repay them as long as Georgia is a member of the IMF,” the NBG said.