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. Last Updated: 07/27/2016

Georgia Seeks IMF Aid




TBILISI, Georgia (AP) -- Georgia has asked the International Monetary Fund for loans to help cope with the impact of Russia's economic crisis, poor harvests and a lack of fuel, President Eduard Shevardnadze said Monday.


"I don't know what aid they will give us, but I hope it will be quite substantial," he said in a regular radio address.


Shevardnadze said the crisis that hit Russia in mid-August has hurt Georgian exports, especially fruit and wine.


A drought last summer halved Georgia's grain harvest to about 500,000 metric tons and caused a significant reduction in hydroelectric output because water levels dropped, Shevardnadze said.