World News

IMF working with Georgia on additional financing to combat pandemic

WASHINGTON (Reuters) – The International Monetary Fund on Monday said it was working closely with authorities in Georgia to provide additional financing for the South Caucasus country as it works to cushion the human and economic impact of the coronavirus pandemic.

“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,” said Mercedes Vera Martin, mission chief for Georgia at the IMF.

“Besides limiting the impact of the shock, IMF financing should also catalyze donor support.”

(Reporting by Andrea Shalal; Editing by Tom Brown)