Investor Presentaiton
Public debt
Georgia's economy is quite unleveraged compared to other
emerging market economies
Georgia's public debt is 40.8% of GDP in 2009 down from
58.0% in 2003
Paris club rescheduling in 2001 and 2004
The external debt is all multilateral or bilateral and significant
share is highly concessional
This explains why the government debt service burden is low
Eurobonds debut issuance of US$500 mln in April 2008,
maturity date 2013
Breakdown of public debt
US$ billion
6.0
4.0
60.0%
46.1%
5.0
52.5%
50.0%
1.03
40.3%
1.00
40.0%
32.8%
40.8%
0.97
3.0
26.4%
30.0%
0.83
28.5%
0.85
0.89
0.85
2.0
4.15
20.0%
3.38
2.68
1.86
10.0%
1.73
1.70
1.79
10
1.0
External public debt service
US$ mln
180
8.8%
160
140
120
100
60
80
60
40
40
20
7.3%
7.1%
110.6
103.8
0
2004A
2005A
152.2
0.0
0.0%
2004A
2005A
2006A
2007A
2008A
2009 A
2010F
External public debt
Internal public debt
Total public debt as % of GDP
Source: "The Georgian Economy Overview", Government of Georgia Presentation,
Public debt as % of GDP, 2009
Russia
Turkey
10%
9%
Bulgaria
8%
Ukraine
7%
Lithuania
6%
5.20%
Slovak Republic
4.4%
5%
169.3
Georgia
4%
136.7
Poland
3.4% 118.7
3%
102.1
Latvia
2.9%
2%
Kazakhstan
Hungary
2006A
2007 A
2008A
2009A
1%
0%
2010F
External debt service External debt service as % of budget revenue
Source: "The Georgian Economy Overview", Government of Georgia Presentation, June 2009.
Labkon
BANK OF GEORGIA
www.bog.ge/ir
Estonia
Czech Republic
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Source: World Bank, International Monetary Fund
September 2010
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