Finance Ministry says Georgia’s risk rating improved in OECD index
Georgia’s risk rating has improved by one level in the credit risk classification of the countries of the Organisation for Economic Co-operation and Development. Photo: Nino Alavidze/Agenda.ge
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The Ministry of Finance of Georgia on Friday said the country’s risk rating had improved by one level in the credit risk classification of the countries of the Organisation for Economic Co-operation and Development.
The Ministry said the improvement would “increase access to financing” for the private sector, adding the rating was based on the assessment of official export credit agencies of OECD member countries.
The listing also includes non-member countries, the body added, noting the purpose of classification was to assess solvency risks of countries.
The Ministry said improvements in the rating would increase access to financing for the domestic private sector.
Georgia is 33rd in the world and in the top three in Europe with the low price level, according to the international comparison programme of the World Bank that examines indicators of 188 countries and territories according to purchasing power.
Georgian Finance Minister Lasha Khutsishvili on Wednesday met representatives from JPMorgan Chase, an American multinational financial institution, to discuss measures planned for the development of Georgia's investment opportunities and securities market.
For the third year in a row, the Human Development Index of the United Nations Development Programme has put Georgia in the “Very High” human development category, positioning the country 60th out of 193 countries and territories.
The National Bank of Georgia on Friday said the domestic financial system was maintaining “stability” and continued lending to the economy, while banks maintained “healthy” capital and liquidity ratios as of January, and credit activity was at a “sustainable” level.