Georgian PM Thanks IMF Executive Board for $200 Million Assistance

Prime Minister of Georgia Giorgi Gakharia thanked the IMF Executive Board for approving US$200 million financing to the country to address the effects of the COVID19 pandemic. 

"Grateful to Kristalina Georgieva, IMF Executive Board & MCD Mission for VI Review and augmentation of the current program with $200 mil. It is a strong message for the international donor community. Together we will combat the invisible enemy!," Gakharia tweeted. 

The IMF Executive Board has approved US$200 million financing to Georgia to deal with the pandemic.

The Executive Board of the International Monetary Fund (IMF) has also completed the Sixth Review of Georgia’s economic reform program supported by a three-year extended arrangement under the Extended Fund Facility (EFF).

The completion of the review will release SDR147 million (about $200 million) for budget support, to help Georgia meet the urgent balance of payments and fiscal needs stemming from the COVID-19 pandemic, including increased spending on health services and social protection. Total disbursements so far under the arrangement amount to SDR327 million (about $448 million).

By Ana Dumbadze 

Related Story: IMF Executive Board Approves $200 Million Financing for Georgia