Distance meeting was held between the Executive Team of the Business Association of Georgia and IMF Mission

26 Jun '20

At the meeting, which was attended by the head of the mission of the International Monetary Fund, Mercedes Vera Martin, the parties discussed the current economic developments and the impact of the pandemic on business operators. Levan Vepkhvadze, Executive Director of the Association, introduced the mission to the challenges facing the member companies of the Association and the vision of the Association's team to stimulate business. The conversation focused on the expected indicators of economic growth, the anti-crisis plan presented by the Georgian government and its economic part, in particular, the sector support schemes defined by the adjusted state budget: loan co-financing and credit guarantee mechanism. The association stressed that the existing schemes are available only to small and medium-sized businesses, therefore, it is necessary for the Georgian government to offer similar mechanisms to large companies that have been significantly affected by the economic recession caused by the pandemic.

Business Association of Georgia annually hosts the mission of the International Monetary Fund and informs it about the private sector's views on the current economic processes in the country. The Association welcomes the interest and desire of the Foundation, along with other interested parties, to hear the opinion of the business and assess the business environment in the country, ”said Levan Vepkhvadze, Executive Director of the Association.