Georgia’s foreign exchange reserves exceed $8 billion for first time, PM says

Economic growth is enabling Georgia to replenish its foreign exchange reserves, which reached a record level last month, exceeding $8 billion for the first time in the country’s history, Prime Minister Irakli Kobakhidze said at a government meeting.

According to Kobakhidze, the country’s foreign exchange reserves increased by 56.4% compared with the previous year and rose by $613 million compared with the previous month, reaching $8.14 billion.

“The reserve adequacy indicators, measured by the International Monetary Fund according to its methodology, have also improved. We exceed the 100% adequacy threshold, with the adequacy indicator standing at 128.2%. This demonstrates that we have very solid figures and policy in this area,” Kobakhidze said.

He noted that the volume of reserves had doubled in less than two years compared with October 2024.

“In 2026, due to favorable conditions in the foreign exchange market, the National Bank has been replenishing reserves. From January through July, total net purchases exceeded $2.5 billion. Of course, the National Bank deserves special thanks for this,” the prime minister said.

According to Kobakhidze, important steps have also been taken to diversify the country’s reserves.

“In this regard, the National Bank made a strategic decision in 2024, when it made its first investment in gold. Since then, the price of gold has increased significantly on international markets, which has consequently increased the volume of our total reserves.

“Overall, this year the National Bank also purchased monetary gold worth $100 million. Gold accounts for more than 14% of our total reserves. Once again, I would like to thank the National Bank for its effective work,” Kobakhidze said.