The FINANCIAL — Net international investment position (IIP) of Georgia by the end of the third quarter of 2012 amounted to -15.1 billion of USD (-25.0 billion GEL) that is -2.0 billion USD (-3.3 billion GEL) increase on yearly base and -550.2 million USD (-1.1 billion GEL) increase compared to the previous quarter record.
As National Bank Of Georgia said, during the quarter transactions, price changes, exchange rate changes and other changes all were negative. Total international assets amounted to 5.6 billion of USD (9.3 billion GEL) as for 30th of September 2012. 52.0 percent out of total international assets consists of reserve assets; 28.0 percent – of other investments; 19.2 percent – of direct investment; and 0.8 percent of portfolio investment and financial derivatives. 19.8 percent of total international assets consists of currency and deposits; 6.1 percent – of trade credits; 1.8 percent – of loans. Reserve assets increased by 160.3 million USD (260.9 million GEL) compared to the record of 30th of September 2011. Reserve assets amounted to 2.9 billion of USD (4.8 billion GEL) by the end of the reporting period. 189.8 million of USD (313.3 million GEL) out of the annual net changes was due to transactions and -28.8 millions of USD (-47.6 million GEL) – due to exchange rate changes.
As for liabilities, for the same period, total liabilities amounted to 20.7 billions of USD (34.3 billion GEL), that is 2.8 billion USD (4.6 billion GEL) increase on yearly base. Liabilities to direct investors increased by 11.2 percent and amounted to 10.3 billions of USD (17.0 billion GEL). Portfolio investment liabilities grew by 67.5 percent yearly, and amounted to 2.1 billions of USD (3.4 billion GEL), of which 660.1 million of USD (1.1 billion GEL) is government Eurobonds, 605.2 millions of USD (1.0 billion GEL) – Eurobonds of Georgian railway and 270.7 millions of USD (449.1 million GEL) – Georgian Oil and Gas Corporation bonds. Treasury bills and treasury notes bought by non-residents, total 126.6 millions of USD (210.0 million GEL) is also included in this component.
By the end of the reporting period, as compared to the preceding year, other investments liabilities increased by 12.7 percent and amounted to 8.4 billion of USD (13.9 billion GEL). From that amount loans comprise 6.6 billion of USD (11.0 billion GEL). Monetary authorities' loans decreased by 33.0 percent as compared to the same period record of the previous year and amounted to 429.8 million of USD (713.1 million GEL). External liabilities of general government grew by 13.3 percent due to long term liabilities. Banking sector loans increased by 5.9 percent totaled to 1.4 billion USD (2.3 billion GEL) as for the end of September 2012. Long term liabilities increased by 6.4 percent and short-term liabilities increased by 3.9 percent respectively. Currency and deposits liabilities increased by 45.0 percent compared to the previous year record and reached 751.3 million USD (1.2 billion GEL).
By the end of September of 2012, the other long term liabilities of the National Bank of Georgia reached 222.0 millions of USD (368.4 million GEL), which is the allocation of Special Drawing Rights (SDR).
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