Newly released Foreign Holdings, Composition of Holdings, Foreign Holdings of Hard-Currency Debt and

FX Reserves July 2021 data, and Fund Allocations and BoP June 2021 data.

CEMBI fund allocations [small sample]: significantly went down in June 2021, resulting in the weakest

overweight since Feb 2020

Foreign Holdings: decreased by 50mn GEL (20mn USD) in July 2021

Composition of Holdings: non-residents’ holdings slightly decreased in July 2020

Composition of Holdings: commercial banks’ holdings have been consistently decreasing throughout 2021

Foreign Holdings of Hard-Currency Debt: increased by about 20mn USD in July 2021

Equity Cross-Border Flows: Q1 2021 was the 5th flat quarter in a row

FX Reserves: decreased by 40mn USD in July 2021

External Debt: increased by over 3.5bn GEN (0.3bn USD) during Q1 2021