International Monetary Fund considers 'additional financing' to support Georgia in fight against COVID-19

The International Monetary Fund (IMF) is working with the Georgian authorities to provide 'additional financing' to contain the spread of the coronavirus and support the Georgian people and economy, announced the Mission Chief for Georgia at the International Monetary Fund (IMF) Mercedes Vera-Martin in a statement published on March 30.

The statement reads that the pandemic of the coronavirus worsened the outlook of the Georgian economy and that the government, in response, has been carrying out various measures to reduce the effect of the crisis on the population and economy.

The outbreak of the COVID-19 pandemic has affected the Georgian people and worsened the outlook for the Georgian economy. The IMF is working closely with the authorities to provide support under the Extended Fund Facility arrangement, including through additional financing, to contain the spread of the virus and support the economy and the Georgian people”, said Vera-Martin.

The last visit of the IMF mission led by Vera-Martin was held on February 5-11, 2020 in Georgia. During the visit the IMF team discussed economic and financial developments and progress with structural reforms with the Georgian authorities. 

At the end of the visit, Vera-Martin issued a statement in which she said that the growth outlook for 2020 remained stable, at 4.3 per cent.