International Monetary Fund (IMF) Mission Visited the Business Association of Georgia

4 Feb '25

A meeting was held at the Business Association of Georgia with the International Monetary Fund (IMF) mission, where the current state of the country's economy and business perspectives regarding it were discussed.

During the meeting, discussions covered global and regional trends as well as challenges facing domestic businesses, including the global tariff war, sanctions, the Russia-Ukraine war, EU integration, and foreign direct investment issues. Furthermore, it was noted that problems in the local labor market remain the main challenge for businesses, serving as a significant hindering factor for investment activity for the second consecutive year. Additionally, discussions touched upon the importance of exchange rate stability for the Georgian Lari (GEL) and the impact of potential volatility on commercial transactions of exporting and importing companies.

Levan Vepkhvadze, Executive Director of the Business Association of Georgia, presented the dynamic data of the BAG Index for 2019-2024 to the mission representatives, noting that there are high expectations for the results of the Q1 2025 survey, which will more accurately measure business sentiment and expectations given ongoing developments.

"Since its inception, the Business Association of Georgia has actively cooperated with international financial institutions, among which the IMF holds a prominent place. It is a great honor for us that during its visit, the Fund's mission expresses the desire to visit the Business Association of Georgia and hear the sentiments and assessments within the business community. This time as well, we discussed with the IMF mission the country's economic parameters and current challenges affecting both the business sector and the country's overall economic development," stated Levan Vepkhvadze.