The COVID-19 pandemic has increased insolvency risks, especially among small and medium enterprises (SMEs), which are vastly overrepresented in hard-hit sectors. Without government intervention, even firms that are viable a priori could end up being liquidated-particularly in sectors...

The staff report for the First Review Under the Stand-By Arrangement with the officials of Georgia highlights economic developments and policies. Sustaining economic growth and maintaining confidence in the currency and the financial system within the constraints of available external financing...