PM Gakharia says recent Fitch rating demonstrates ‘resilience’ of gov’t policies
Global Fitch announced earlier this week that ‘a consistent and credible policy framework underpins Georgia's relative resilience to shocks’. Photo: PM's press office archive
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Georgian Prime Minister Giorgi Gakharia has welcomed the recent Fitch rating for Georgia, saying it demonstrates ‘the resilience of our policies’.
PM Gakharia has tweeted earlier today:
Great update from @FitchRatings demonstrating the resilience of our policies. Fitch affirmed ????????s IDR at BB asserting that the re-election of GD reinforced Econ policy continuity w/no disruption,despite high political tensions given the current boycott of parliament by opposition
— Giorgi Gakharia (@GakhariaGiorgi) February 14, 2021
Global Fitch has confirmed Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB’ with a negative outlook.
The re-election of Georgian Dream (after parliamentary elections in October 2020) reinforces our expectation of economic policy continuity and we do not see this being disrupted, despite high political tensions given the current boycott of parliament by key opposition parties”, Fitch reported on February 12
It noted as well that the country’s ratings are supported by ‘strong structural indicators, such as governance and business environment’, relative to 'BB' category peers.