IMF Resident Representative: Georgia should deepen ties with all economic partners to support diversification

Andrew Jewell, the Resident Representative for Georgia at the International Monetary Fund, on Thursday said that maintaining strong relations with all economic partners, not just the European Union, should remain a priority for Georgia.

In his remarks, Jewell noted that economic diversification was crucial, and the Georgian Government was actively pursuing this goal.

He pointed to the recent large-scale investment from the United Arab Emirates and the ongoing visit of Georgian officials to China as clear examples of these efforts.

“Diversification is important, and it is evident that the [Georgian] Government is working toward it. A major example is the large-scale foreign direct investment project from the United Arab Emirates. We also see that government representatives are in China this week, seeking to deepen relations with that country as well”, Jewell said.

He further emphasised the importance of continuing prudent fiscal and macroeconomic policies.

“We would recommend continuing the implementation of sound fiscal policies, which is being done, as well as maintaining control over inflation. Although inflation is currently slightly above the target level, overall it remains under control. Therefore, it is important to continue pursuing prudent macroeconomic management”, the official concluded.