Moody’s updated its outlook on Georgia from negative to stable while maintaining the country’s Ba2 rating. This adjustment reflects a reassessment of the economic risks stemming from Russia’s invasion of Ukraine, with Georgia demonstrating notable economic resilience. Moody’s anticipates steady GDP growth of 5.5% in 2024, highlighting the significant role of Georgia’s economic institutions in this resilience. However, Moody’s voiced concerns over governance and the independence of Georgia’s central bank, specifically relating to management changes that could potentially impact its relationship with the IMF.