Natia Turnava, Governor of the National Bank of Georgia (NBG), and Lasha Khutsishvili, Minister of Finance of Georgia, met with Bo Li, Deputy Managing Director of the International Monetary Fund (IMF).

The meeting took place in Bangkok on the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank.

Discussions focused on the resilience of the Georgian economy and the strength of its macroeconomic indicators. The Georgian side briefed the IMF Deputy Managing Director on the steps taken to maintain a sustainable fiscal position and price stability in the country.

At the meeting, it was noted that the recent escalation of geopolitical tensions had affected the Georgian economy through the inflation channel. It was emphasized that the deviation from the target rate was largely attributable to supply-side shocks, specifically the rise in energy prices resulting from geopolitical tensions in the Middle East. It was also noted that future monetary policy decisions would depend on how the current geopolitical situation evolves.

As Bo Li noted, amid the current global economic uncertainty, it is particularly important to take advantage of the favorable economic environment to strengthen economic buffers. In this context, he welcomed the fact that Georgia's monetary and fiscal policies were aligned with this objective and that the country was building up both international reserves and fiscal buffers.

The parties also discussed key issues relating to cooperation with the International Monetary Fund and the development of a framework for future cooperation.

The meeting was attended by the National Bank of Georgia's Vice Governors, Ekaterine Mikabadze, Ekaterine Galdava, and Nino Jeladze, as well as Ekaterine Guntsadze, Deputy Minister of Finance of Georgia.