International rating agency Moody`s has affirmed Georgia`s sovereign credit rating at Ba2, while revising the outlook from negative to stable, reads the statement, issued by the National Bank of Georgia.

"According to the rating agency’s assessment, strong economic indicators reduce the risks associated with domestic and geopolitical challenges, providing the basis for the improved outlook. Moody’s also highlights that cooperation with international financial institutions supports the high effectiveness of fiscal and monetary policies.

"We expect Georgia`s economic growth to remain strong, supported by broad-based economic activity, domestic consumption, and investment. Robust economic growth and prudent government debt management will continue to strengthen the country’s fiscal resilience. Georgia`s strategic location and its role as the Middle Corridor will facilitate the attraction of investment flows from both the region and other countries. These strengths are further bolstered by the high effectiveness of fiscal and monetary policies," Moody`s writes.

Moody`s notes that the National Bank of Georgia has already implemented a number of recommendations issued by the International Monetary Fund (IMF).

"In the area of monetary policy, several measures recommended by the International Monetary Fund have already been implemented. These include steps toward ensuring a majority of non-executive members on the Board of the National Bank, restricting discretionary financial transfers to the government, and making changes to the organizational structure. In addition, the National Bank of Georgia is currently working on developing a legal framework that envisages the introduction of a collegial decision-making model and strengthening the qualifications of Board members, in line with the International Monetary Fund`s recommendations," the Moody`s Ratings report states.

According to Moody`s assessment, Georgia`s strong economic growth, fiscal discipline, and declining government debt further strengthen the country`s creditworthiness. The agency has raised its economic growth forecast to 6.4%".