The Chair of the Budget and Finance Committee, Irakli Kovzanadze held the online meeting with the Deputy Head of the IMF Middle East and Central Asia Department, Ms. Mercedes Vera-Martin and the IMF Resident Representative for Georgia, Mr. Selim Cakir with the initiative of IMF.

The parties discussed the decision made by the IMF Board of Directors on availability to more than 400 ml USD for Georgia, 201.3 ml USD of which has already been allocated today.

I. Kovzanadze thanked Ms. Vera-Martin for the support rendered to Georgia. In response, Ms. Vera-Martin noted that Georgia is the first country within the 3-year program backed with “Extended Fund Facility”, eligible for the financial aid by the IFM. The amount will be consumed on the economic support programs and the healthcare system necessities.

At the meeting, lasting for more than an hour, the parties stressed the micro-economic and price stability issues of the country, as well as the expected changes to the state budget. The parties touched upon the sustainability of the financial sector, including the state in the bank system.

The IMF representatives asked about the activity mode of the Parliament under the state of emergency.

I. Kovzanadze provided the information about the certain bills submitted to the Parliament, namely “State Pensions” envisaging indexation of the pensions; and the bill on Bankruptcy.

According to I. Kovzanadze, all necessary bills will be in a timely manner adopted. “Naturally, the pandemic had an impact on Parliamentary activity. The Staffers are in a distance and remote mode and despite, all necessary bills will be timely adopted”, - I. Kovzanadze noted underlining the special importance of active engagement of the IMF and other international financial institutions in the financial and economic sectors of Georgia.