The International Monetary Fund calls on the Georgian government to accelerate the pace of vaccination against COVID-19 in the country. This is stated in the report published today by the IMF. According to the Fund, if the number of vaccinations is not increased daily, then Georgia will not be able to vaccinate 60% of the population by the end of the year.
"Vaccination rates need to be significantly accelerated so that more than half of the population is vaccinated by the end of the year," the document said.
According to the updated IMF forecast, the economy is expected to grow by 7.7% this year, but the IMF estimates that there are still significant risks that could worsen the situation.
"Significant downward risks remain, making the economic outlook more uncertain than usual. The government has made significant efforts to secure supplies of vaccines, but more work is needed in this area.
Vaccination rates need to be significantly accelerated so that more than half of the population is vaccinated by the end of the year. A new strain of COVID-19 or a delay in vaccination could further hamper the economic recovery if new restrictions become necessary and also reduce external demand. This underscores the importance of pandemic management. The resumption of domestic political uncertainty may increase the volatility of the lari exchange rate, hampering investment and confidence in the economy. These risks could exacerbate problems in the economy, such as high dollarization and the number of foreign currency-denominated loans," the IMF said in a statement.
