OREANDA-NEWS. December 19, 2007. Maintenance of external debt sustainability is one of the state priorities. Therefore, reduction of ratio of external debt to GDP is an indicator of successful financial and economic policy.

This indicator was 44.9% in 2003 in Georgia, but in 2007 it has been reduced to 15.9%. It is planned its future reduction to 11.5% by 2010.
Public and publicly guaranteed external debt of Georgia as of November 30 amounted to 1 810 323 thousand USD, the press service of the Ministry of Finance of Georgia reports.

The debt of Georgia to the bilateral creditors as of November 30 amounts to 530,113 thousand USD, including:

Austria - 2,045 thousand USD;

Azerbaijan - 14,497 thousand USD;

Turkmenistan - 6,689 thousand USD;

Turkey - 47,683 thousand USD;

Iran - 11,388 thousand USD;

Russia - 120,952 thousand USD;

Armenia - 17,588 thousand USD;

Uzbekistan - 386 thousand USD;

Ukraine - 353 thousand USD;

Kazakhstan - 27,774 thousand USD;

Germany - 170,008  thousand USD;

Japan - 48,914  thousand USD;

Kuwait - 14,755  thousand USD;

Netherlands -  7,247 thousand USD;

USA - 39,834 thousand USD;

Georgia also has debt before the international institutions, which amounts to 1 266,069 thousand USD, including:

International Monetary Fund (Recipient National Bank of Georgia) -  253,091 thousand USD;

World Bank, International development Association - 892,421 thousand  USD;

International Agriculture Development Fund - 11,367 thousand USD;

European Union - 84,824 thousand USD;

EBRD - 24,365 thousand USD.

As of November 30, the surplus of external debt according to the publicly guaranteed credits amounted to 14,142 thousand USD, including:

European Bank for Reconstruction and Development - 9,760 thousand USD;

Germany - 4,382 thousand USD.

Note: Exchange rate in the data is as of November 30, 2007.