International Monetary Fund starts mission in Georgia
By Natalia Kochiashvili
Thursday, September 10
The International Monetary Fund has launched a mission in Georgia under the leadership of Mercedes Vera-Martin.
Due to the global pandemic of COVID-19, the mission will work in virtual mode and its first online meeting was held with the Minister of Finance Ivane Machavariani.
The parties reviewed the current economic situation in the country, as well as the main fiscal and macroeconomic parameters for next year.
The conversation focused on the government's anti-crisis policy, measures to combat the COVID-19 pandemic, and in this regard, the $ 200 million budget assistance provided to Georgia by the International Monetary Fund, as well as IMF-supported economic reforms in the current and future periods.
As mentioned, despite the global economic crisis, Georgia maintains economic stability, as evidenced by the maintenance of a sovereign rating for Georgia by two reputable rating companies (S&P; Fitch).
“At the meeting, the importance of assistance to international financial institutions, which is aimed at controlling the spread of the COVID-19 pandemic and reducing its negative economic impact, was reiterated,” the Ministry of Finance said in a statement.
The meeting was also attended by the Deputy Ministers of Finance, Head of the IMF Resident Representative in Georgia, Resident Advisor of the International Monetary Fund Tax System Modernization Support Project, Heads of Departments of Budget and Macroeconomic Analysis and Fiscal Policy Planning.
The mission will work until September 14th.
