06.May .2020 12:00

Georgia receives budget support of 201.3 million USD from the IMF

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Georgia has already received budget support of 201.3 million USD from the International Monetary Fund (IMF), - the National Bank of Georgia (NBG) has confirmed it to BM.Ge.

To remind, late last week, the IMF Executive Board approved access of SDR147 million (about $200 million) for budget support, to help Georgia meet urgent balance of payments and fiscal needs stemming from the COVID-19 pandemic, including increased spending on health services and social protection.

“The augmentation of access under the Extended Fund Facility arrangement should support the authorities’ policies to address the COVID-19 shock and help meet the urgent balance-of payments need,” Mr. Tao Zhang, IMF Deputy Managing Director and Chair said.