Georgia’s Currency Reserves Hit $4.117 Billion

Georgia has substantially increased its international currency reserves after the International Monetary Fund (IMF) allocated reserve assets to the country.

According to the National Bank of Georgia (NBG), as compared to July, in August the reserves rose by $244 million to $4.117 billion, up to $185 million years on year. Foreign currency reserves in total reserves amounted to $3.626 billion. As reported, IMF has allocated reserve assets of $286 million (SDR 202 million) to Georgia. This transaction expanded Georgia’s international reserves and made the county more resistant to the crisis.

Amid the pandemic, the NBG has to actively sell the international reserves. YTD the NBG has sold $273 million at currency auctions, while direct interventions in 2020 amounted to $916 million.

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Georgia’s Currency Reserves Hit $4.117 Billion

Georgia has substantially increased its international currency reserves after the International Monetary Fund (IMF) allocated reserve assets to the country.

Last 7 Days Hot Topic

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine 01

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul 02

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC 03

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path 04

Georgia Sees Surge in Electric Vehicle Registrations 05

Levan Lepsveridze Joins Jury at Cannes International Festival 06

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
01

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
02

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
03

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
04

Georgia Sees Surge in Electric Vehicle Registrations
05

Levan Lepsveridze Joins Jury at Cannes International Festival
06