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Many Countries Terminated to Publish Financial Stability Report, but Later Resumed

Many Countries Terminated to Publish Financial Stability Report, but Later Some of them Resumed

“There are a lot of countries that have ceased to publish financial stability report, however, later some of them resumed, and some of them did not”, – said Koba Gvenetadze, the president of National Bank of Georgia to Business Contact.

According to him, Financial Stability Report is one of the issues that can be discussed with IMF Mission.

“Approximately at least one time per 2 years, so-called Article IV consultations should be held in the country, which looks completely different economic sectors. The IMF Mission arrived in Georgia exactly for this Article IV consultations.

The meeting process are well underway. You know that last two reviews have not been conducted so far. There are certain conversations conducted. Because the negotiations and the mission is not over yet, nothing can be said concerning the results.

In general, the most important in the financial stability report is the outcome and analyzes it gives. Many countries had already ceased to provide financial stability report, but later some of them resumed. Important is what we appreciate the most with this report: what it was in the past, what we have now, or what will be in the future. In addition to this we appreciate the risks as well.

It is not always possible the risks in the future to be well analyzed in advance. Forecasts will always be at some level, but it needs good analysis and statistical data too.

The ingredients needed for this are available at the National bank of Georgia, although last year there were some hindering prerequisites. There is also discussion going on with the IMF concerning about this issue, and it is not a particularly big problem, “- said Gvenetadze.

Since May 11 the IMF Mission works in Georgia.