Georgia will receive huge financial support
Thursday, September 18The IMF has allotted Georgia USD 750 million in loans. USD 250 million will be transferred initially and the residue in six instalments.
This loan is designed to help revive Georgia’s macroeconomic policy. The loan granted to Georgia is unprecedented in the history of the IMF.
The EU is prepared to allot Euro 500 million over three years to stabilize Georgian economy. The USA is ready to grant Georgia USD 1 billion. Many other countries are also assisting Georgia with financial support.
Financial experts warn that Georgia needs to spend this money very efficiently and transparently. Serious monitoring mechanisms need to be activated, or this money could bring more harm than good.