On March 24, Moody's revised Georgia's long-term credit rating outlook in both national and foreign currencies from "stable" to "negative", while affirming the country's rating at "Ba2."

According to the agency, the decision to downgrade the outlook reflects increasing risks to Georgia's institutional and governance stability amid complex internal and geopolitical developments. Moody’s warned that internal and geopolitical crises could weaken Georgia's governance system, raising concerns about the effectiveness of its monetary and macroeconomic policies.

The agency also cited the ongoing suspension of Georgia’s cooperation program with the International Monetary Fund (IMF) as an indication of reduced governance effectiveness.

Despite the outlook revision, Moody's affirmed Georgia’s "Ba2" rating, emphasizing the country's strong economic and fiscal position.