05.Mar .2020 17:45

Refinancing Rate Might be Declined – Machavariani

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Georgia's Finance Minister Ivane Machavariani said today that in response to the economic impact of the Coronavirus, the government and the National Bank will take appropriate steps.

"Depending on how severe the impact will be, we may consider monetary policy mitigation. We may also think about different types of fiscal stimulus," the Georgian Finance Minister said.

To remind, the National Bank of Georgia increased its refinancing rate to 9% on November 12, 2019. Whether the NBG reduces refining rate or not, should become known at the next Monetary Policy Committee meeting.