Georgian PM, IMF mission chief discuss gov’t steps to curb Covid-19
Successfully completed program of the IMF was mentioned during the meeting as having a positive impact on the Georgian economy. Photo: PM's press office
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Georgian Prime Minister Irakli Garibashvili has discussed the Covid-19 situation with the area mission chief of the International Monetary Fund James John during an online meeting earlier today.
It was noted during the meeting that the Government of Georgia has effectively managed the epidemic situation aimed to quickly recover the economy, PM’s press office has reported, adding that the coronavirus restrictions are being gradually eased, while the vaccination process is ‘progressing steadily’.
The importance of ‘active and consistent measures’ taken by the Government of Georgia aimed to address the crisis caused by the pandemic have also been mentioned together with the ‘unprecedented high economic growth indicator’, which reached 44.8% in April 2021.
Successfully completed program of the IMF was referred to at the meeting as having a positive impact on the economy of the country and reform agenda in the opinion of the Prime Minister of Georgia”, the statement reads.
It further notes that the key directions of a 10-year development plan initiated by PM Garibashvili were also discussed during the meeting.
The IMF Mission Chief has meanwhile pledged readiness to support the government efforts aimed at the stimulation of the economy and quick recovery of the sectors that were hard-hit by the pandemic.
The International Monetary Fund (IMF) expects gross domestic product growth to rebound to 4.3 per cent in 2021 'as the effects of the pandemic fade, but considerable downside risks remain', says the IMF staff team led by Mercedes Vera Martin who conducted virtual discussions from October 5 to November 9, 2020, on the seventh review under the Extended Fund Facility (EFF) arrangement.
The Executive Board of the International Monetary Fund (IMF) has approved $200 million for Georgia to help address the effects of the coronavirus. This, IMF said, will help Georgia “meet urgent balance of payments and fiscal needs” stemming from the COVID-19 pandemic, including “increased spending on health services and social protection”.
The International Monetary Fund (IMF) is offering $450 million to help Georgia contain the COVID-19 pandemic and limit its economic impact, announces the IMF. The IMF reached an agreement with the Georgian authorities for the completion of the Sixth Review and an augmentation of access under the Extended Fund Facility.
The International Monetary Fund (IMF) expects economic activity to remain strong in Georgia, supported by a favourable global environment and the firm implementation of programme policies.
Georgia is lifting several coronavirus restrictions following today's meeting of the Interagency Coordination Council, announces the government of Georgia. Starting today, wearing a face mask in outdoor space will no longer be mandatory, while the restriction remains in force in gathering places such as bus stops, public transport and indoor spaces.
Municipal buses and Tbilisi Metro will serve passengers from 7 a.m. to 12 p.m starting July 1, reports the press office of Tbilisi City Hall.
The International Monetary Fund (IMF) has approved a general allocation of Special Drawing Rights (SDRs) equivalent to $650 billion of which Georgia will receive SDR 202 million which is equivalent to $286 million. IMF Managing Director Kristalina Georgieva said that this is a historic decision and the largest SDR allocation in the history of the IMF and ‘a shot in the arm for the global economy at a time of unprecedented crisis’.