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, 14 Feb 2021 - 19:55, Tbilisi,Georgia

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:

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.