IMF Working to Support Georgian Economy amid Coronavirus Crisis

IMF is working closely with the authorities to support the Georgian economy which is being affected by the spread of the new coronavirus (COVID-19).

Ms. Mercedes Vera Martin, Mission Chief for Georgia at the International Monetary Fund (IMF), made the following statement:

“The outbreak of the COVID-19 pandemic has affected the Georgian people and worsened the outlook for the Georgian economy. In response, the Georgian authorities are putting in place measures to cushion the human and economic impact of the shock. The IMF is working closely with the authorities to provide support under the Extended Fund Facility arrangement, including through additional financing, to contain the spread of the virus and support the economy and the Georgian people.

"Besides limiting the impact of the shock, IMF financing should also catalyze donor support,” she said.

By Ana Dumbadze