Day: June 11, 2026

The International Monetary Fund (IMF) Executive Board described Georgia’s economy as “resilient” despite elevated “global uncertainty,” including the ongoing conflict in the Middle East, expecting economic growth to remain “strong, though moderating,” at 6.5% in 2026, while projecting inflation to stay above the National Bank of Georgia’s (NBG) target until mid-2027.

In a June 10 press release regarding the conclusion of its Article IV Consultation with Georgia, a regular review assessing member countries’ economic performance, the IMF lauded Georgia’s economic performance, saying real GDP grew by 7.5% in 2025 and “remained strong” in early 2026, while inflation rose above target, reaching 5.9% in April 2026 “due to higher energy prices.” It added that “fiscal and external buffers have strengthened, with reserves reaching the IMF’s adequacy threshold and public debt declining below 35% of GDP.”

Assuming the conflict in the Middle East is resolved soon, the IMP projects growth to “moderate to 6.5% in 2026, gradually converging to its medium-term potential rate of 5% by 2028.” Inflation is expected to return to target by mid-2027, while public debt is projected to “remain near current levels with continued prudent monetary and fiscal policies.”

“Amid elevated uncertainty and recurring external shocks, policy priorities include bringing inflation back to target, building further reserve buffers, and advancing structural reforms to sustain strong growth and create more jobs,” the IMF said.

The Fund’s Executive Directors commended the Georgian authorities for their “good macroeconomic performance underpinned by sound macroeconomic management, strong growth, improved fiscal and external buffers, and a sound financial sector,” highlighting “the importance of preserving macroeconomic stability while advancing reforms to sustain growth and spur job creation.”

Directors advised that monetary policy should remain “appropriately tight” and that international reserves should continue to be accumulated “as conditions allow.” They also called for strengthening the governance framework of the National Bank of Georgia to “reinforce institutional credibility and policymaking, in line with international best practices.”

• 25/05/2026 – National Bank Says It Purchased $333 Million in Foreign Currency in April

Regarding fiscal policy, the Directors said Georgia’s “medium‑term fiscal plans remain appropriate to keep public debt at prudent levels,” emphasizing the need to “streamline tax expenditures, strengthen mining taxation and further improve tax administration, while enhancing spending efficiency to create room for priority spending.” They also said “targeted support should be provided to vulnerable groups if downside risks materialize,” and called for reforms of state-owned enterprises “to reduce fiscal risks.”

The IMF also welcomed the “resilience” of Georgia’s banking system, but called for “continued vigilance amid evolving risks, including rapid credit growth, unhedged foreign exchange exposures, non‑bank financial activities, and digital assets.” Directors encouraged further efforts to strengthen “bank resolution, crisis management arrangements, consolidated supervision, and digital‑asset oversight.”

The Executive Board further stressed the need to address “longstanding structural constraints to sustained inclusive growth and job creation,” encouraging reforms aimed at reducing “high youth unemployment, persistent skills mismatches, and weak work incentives, including strengthening vocational education and public employment services, better aligning social assistance with work incentives, and supporting high‑productivity sectors.”

They also supported continued investment in logistics, trade facilitation, infrastructure, and deeper regional integration to strengthen competitiveness, stressing “the need to strengthen anti‑corruption and judicial institutions, while maintaining a predictable market‑friendly policy environment.”

The IMF said that the next Article IV consultation with Georgia is expected to take place “on the standard 12-month cycle.”

Also Read:

• 09/06/2026 – Geostat: FDI Reaches USD 271.2 Million in Q1 2026, Up 47.7%
• 07/04/2026 – IMF Lauds Georgia’s ‘Robust’ Performance, Points to Uncertainty Amid War in Middle East
• 29/07/2025 – NBG Replenishes International Reserves as IMF Praises Georgia’s ‘Resilience’

This year, Azerbaijan honors the 113th birthday of Hokuma Gurbanova, an iconic actress whose legacy shaped Azerbaijani and Soviet theatre and cinema, AzerNEWS reports.

Hikmet Hajiyev described the issue as one of the most enduring humanitarian consequences of the Armenia-Azerbaijan conflict, emphasizing that thousands of families continue to await information about the fate of their missing relatives.

A group exhibition of young artists titled “Tiny Worlds” has been successfully held at Leyla Khazari Art Gallery,AzerNEWS reports.The exhibition was organized by artist Sayali Mammadova.

Backlash followed a video showing 10-year-old girl in a children’s chorus suddenly falling during a live performance on Georgia’s Public Broadcaster, with critics accusing adults and TV staff of negligence as it appeared the girl remained on the floor without attention until the performance ended about two minutes later. The TV station and chorus later rejected claims that the incident was intentionally ignored.

The video, which went viral, was posted on June 10 by Nino Kukhaleishvili, the grandmother of the girl, Anka, who fell. Recorded from inside the studio in what the Public Broadcaster and the chorus later said was not captured by broadcast camera angles, the girl, one of around 30 children, can be seen in the back row suddenly falling during the performance, apparently due to fainting. The footage shows the fall drawing quick reaction from some of the children standing beside her, but the group, along with four men standing and singing next to them, continues the performance, which lasts for around two more minutes.

Saying that adults later stated they could hear the fall, Kukhaleishvili added that the girl standing next to her granddaughter leaned toward her, “but, as if signaled to continue, the performance goes on,” and that “for three minutes, the child remains unattended on the floor” without anyone knowing her condition. She also noted that children quickly gather around the girl after the performance ends, suggesting that the fall had been noticed. The footage from that moment shows men who were singing beside the chorus quickly looking toward the children.

The video drew wider public backlash, with viewers criticizing the men and TV staff for what they believe was indifference as the singing continued, while the Public Broadcaster and the Song Academy, the group that performed, later issued statements rejecting claims that the girl’s fall was noticed and deliberately ignored by adults or responsible personnel.

Noting that the girl is fine, with minor injuries to her fingers, her grandmother said, “It was the result of an inadequate response from adults and a very difficult lesson for everyone involved.”

The Song Academy rejected what it called “incorrect interpretations” of the incident as if the girl was “deliberately” left without attention. In a June 11 statement, it said that during the live broadcast, “due to stage lighting, loud music and the audio system, the moment of the fall could not be seen by group heads,” adding that “the incident does not appear on the television broadcast at all.” It said the heads only heard the sound of the fall and, “upon looking in its direction, saw the child sitting among her fellow performers.”

“After reviewing the incident, it was established that the only people who directly saw the moment of the fall were the children standing next to her, who immediately reacted and spoke to her,” it added.

The Public Broadcaster also issued a statement on June 11, noting that the video footage does not reflect the broadcast angle and that its staff present in the studio could not see the incident.

“Otherwise, appropriate measures would have been taken immediately, including, if necessary, interrupting the live broadcast,” it said.

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U.S. President Donald Trump has stated that the United States intends to take control of Iran’s Kharg Island, a key hub for the country’s oil exports.

The number of people forced to flee their homes has declined for the first time in a decade.