Natia Turnava: Georgia’s Economy Is Highly Resilient to Global Shocks, a View Consistently Highlighted by the International Monetary Fund

“We were particularly interested in hearing assessments of how new geopolitical challenges may impact the global economy, in order to determine our next steps. We are prepared for any development scenario,” said the Governor of the National Bank of Georgia, Natia Turnava, following a meeting in Washington with Jihad Azour, Director of the IMF’s Middle East and Central Asia Department.

The parties discussed Georgia’s fiscal and monetary policies, the current macroeconomic environment, and future areas of cooperation with the IMF.

Turnava noted that Georgia’s economy remains highly resilient to various shocks, including risks stemming from heightened geopolitical tensions in the Middle East, particularly those related to Iran. According to her, the IMF consistently emphasizes the resilience of Georgia’s economy during its engagements.

The Governor also highlighted that the country possesses sufficient resources — including historically high international reserves, a low fiscal deficit, and strong economic growth — to successfully address emerging global challenges.

She further stressed that ongoing dialogue on current uncertainties and their potential impact on the global economy is crucial for planning Georgia’s next policy steps effectively.

“We have implemented adequate measures that can be utilized to ensure macroeconomic stability at all times,” Turnava added.

The annual forum brings together governors and alternate governors of the IMF and the World Bank, representatives of the financial sectors of most countries, central bank governors, finance ministers, and private sector executives. Discussions during the Spring Meetings focus on key global issues, including the outlook for the world economy, poverty reduction, economic development, financial stability, cybersecurity, and financial technologies.