Covid-19 and Economic Challenges in the Global and Regional Context

Authors

  • Tinatin Doliashvili David Aghmashenebeli Univrsity of Georgia

Keywords:

Global Economy, Economic Challanges, Exchange Inflows, Exchange Interventions

Abstract

COVID-19 is a diffi cult challenge and a signifi cant threat not only to world health, but also to the global economy. The pandemic, which is not over yet and is still peaking in many countries, has exposed false and real priorities. In some countries, the human life is at stake as a counterweight to the economy, which is fundamentally wrong. However, there is no doubt that the negative impact of COVID-19 on the world economy is an irreversible fact. Consequently, the countries with the highest COVID-19 prevalence rates were hit hard, followed by the countries whose economies are most dependent on tourism, oil and other exports. The implementation of effective measures against the pandemic by the Government of Georgia in January-February did not delay the results: the Georgian economy was fully operational in June, which is associated with positive expectations; Georgia is the best example of a successful fi ght against COVID-19 in the region, but Azerbaijan is in a better position at the moment; According to the international rating, Georgia has been marked as the best tourist destination; the foreign exchange infl ows were made in the form of international aid; the National Bank carried out the moderate and periodic foreign exchange interventions at its foreign exchange auction in May.

Published

2020-10-20

Issue

Section

COVID-19 - Economic, Legal and Political Challanges