BAKU, Azerbaijan, Sept. 8
Tamilla Mammadova – Trend:
Georgia's foreign exchange reserves increased by $244 million in August 2021, compared to the previous month and reached $ 4.116 billion, Trend reports via the report of the National Bank of Georgia (NBG).
According to NBG , main reason for the increase in foreign exchange reserves was that Georgia received 202 million SDRs from the International Monetary Fund of Georgia (NBG).
The consequences of COVID-19 pandemic posed financial challenges to many countries around the world. In efforts to help member countries come out of the crisis and promote their financial stability, the International Monetary Fund (IMF) approved a new procedure for the distribution of Special Drawing Rights (SDR’s), redistributing $650 billion (approximately SDR 456 billion) between countries during August.
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