IMF approves additional $111million disbursement to Georgia

The Executive Board of the International Monetary Fund (IMF) approved the disbursement of $111 million to Georgia, Report informs, referring to the Central Bank.

This disbursement will help recover the country’s economy.

Repeated restrictions on movement and economic activity took a toll on economic growth with output contracting by 6.2 percent in 2020. The Georgian economy is expected to resume growth from the second quarter of 2021.

The IMF cut its forecast on Georgia’s economic growth for 2021 from 4.3 percent to 3.5 percent.