Georgian Finance Minister, World Bank officials discuss macroeconomic parameters

Current macroeconomic parameters of Georgia, the impact of the global pandemic on the country, and trends of economic recovery were discussed by Lasha Khutsishvili, the Georgian Finance Minister, and World Bank officials on Wednesday.

Georgia’s Finance Ministry said Khutsishvili had discussed the matters with Axel van Trotsenburg, the World Bank Managing Director of Operations, and Anna Bjerde, the Vice President for Europe and Central Asia of the institution.

The sides also reviewed the ongoing hostilities in Ukraine, Georgia's support for the country, and implementation of international sanctions against Russia for its invasion.

The discussion also focused on the recently reached deal between Georgia and the International Monetary Fund on a $289 million programme for macroeconomic and financial stability of the country, the Ministry said. 

Khutsishvili thanked the representatives of the Bank for their cooperation, pointing out the approaching 30-year anniversary of partnership between the sides.

He also expressed his gratitude for the recently launched €358,500 million Human Capital Programme for Georgia, aiming at increasing the efficiency of service delivery in the fields of health and social care and boosting access to high-quality education. 

The sides acknowledged the partnership within the Development Policy Operation, which seeks to contribute to promoting inclusive growth and increasing competitiveness of the private sector.

The total value of the World Bank portfolio in Georgia amounts to $990 million.