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IMF: Outbreak of COVID-19 affects Georgian economy

Business Materials 31 March 2020 10:47
IMF: Outbreak of COVID-19 affects Georgian economy

BAKU, Azerbaijan, March 31

By Tamilla Mammadova – Trend:

The outbreak of the COVID-19 pandemic has affected the Georgian people and worsened the outlook for the Georgian economy, said Mission Chief for Georgia at the International Monetary Fund (IMF) Mercedes Vera Martin, Trend reports with reference to IMF.

"In response, the Georgian authorities are putting in place measures to cushion the human and economic impact of the shock,” Mercedes Vera Martin said.

According to her, 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,” she said.

The number of COVID-19 cases in Georgia has reached 103 on March 31.

On March 21, Georgia declared a state of emergency until April 21 to prevent the spread of coronavirus.

The outbreak in the Chinese city of Wuhan - which is an international transport hub - began at a fish market in late December 2019. Some sources claim the coronavirus outbreak started as early as November 2019.

The World Health Organization (WHO) declared COVID-19 a pandemic on March 11.

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