BAKU, Azerbaijan, April 14
By Tamilla Mammadova - Trend:
Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund (IMF) says in its latest forecast, Trend reports on Tuesday citing IMF.
Based on IMF prognosis, Georgia’s economy will reduce by 4 percent in 2020 and is expected to grow by 3 percent in 2021.
Meanwhile, during the past two weeks, the International Monetary Fund's technical mission was visiting Georgia within the framework of the Extended Fund Facility (EFF) program, press service of Georgian government reported.
According to the report, IMF will provide Georgia with additional financial resources based precisely on the mission's results.
IMF Mission Chief for Georgia Mercedes Vera-Martin noted that the pace of economic recovery in various countries around the world depends on the effectiveness of the fight against the coronavirus, adding that the coordinated steps taken by the government in Georgia to deal with the crisis have been successful.
The head of the Georgian mission of the International Monetary Fund confirmed IMF's readiness to expand cooperation with Georgia.
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