Georgia’s public external debt has increased to 8.9 billion dollars. The foreign debt for the last year amounted to 562.149 million dollars.
As of December 2022, the debt amounted to 8.345 billion dollars (22.549 billion GEL at the then exchange rate).
According to data for December 2023, Georgia’s largest creditors are:
● Asian Development Bank. Georgia owes it 2.281 billion dollars; ● European Investment Bank ($1.143 billion); ● International Development Bank ($1.525 billion).
Georgia’s public external debt does not yet pose a threat to macroeconomic stability and, together with domestic debt, fully complies with the requirements of the Law on Economic Freedom, which, in turn, is based on the Maastricht criteria.
Nevertheless, as economists explain, the money generated by external debt is an expensive financial resource that increases the fiscal burden of the country’s taxpayers, including future generations.
