BAKU, Azerbaijan, Jan. 19
By Maryana Akhmedova – Trend:
Having a reliable public debt management system helps Georgia create the fiscal space necessary to continue its path to sustainable and inclusive growth, Trend reports via the press office of the World Bank.
Georgia was able to reduce its vulnerability to financial shocks due to the COVID-19 pandemic with the help of the World Bank’s Debt Management Facility (DMF), WB said.
Since participating in the DMF’s Debt Management Practitioners Program, Georgia’s Ministry of Finance was capable of improving its analyses conducting system and debt management strategies, the report said.
“Since the initial DMF engagement, Georgia had improved debt transparency with the publication of its semi-annual public debt statistical bulletin and monthly debt statistics,” the WB noted.
Sensible debt management reforms implemented many years ago allowed Georgia to secure public financing even when capital markets were in turmoil, the report added.
The impact of the COVID-19 pandemic on poverty and inequality in Georgia will certainly depend on the severity and duration of the crisis and policy responses, the WB noted.
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