Posted: 4 years ago

IMF working with Georgia on Additional Financing to Combat Pandemic

The International Monetary Fund on Monday said it was working closely with authorities in Georgia to provide additional financing, as it works to cushion the human and economic impact of the coronavirus pandemic.

“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.”