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The Government Will Start Discussion of new Program with IMF in November

The Government Will Start Discussion of new Program with IMF in November

IMF mission has to visit Georgia in the middle of November and launch of new program will be discussed as well.

Francois Painchaud, resident representative of IMF in Georgia declares that the main topic is budget deficit of 2017. According to their prediction, it will be 6% due to the launch of “Estonian Model”. According to Ministry of Finance, the deficit will be 4%.

The government is working to launch a new program with Intentional Monetary Fund (IMF). However, completion of 2nd and 3rd reviews has not been managed up to now, respectively, the country cannot receive 20 mln SDR envisaged by the program.

On October 14, Finance Minister Nodar Khaduri declared that both parties want to continue relations from a clean sheet of paper.

“We need moral support from IMF rather than fiscal contribution, we need moral support of the policy that government of Georgia has been implementing and we have this support”, Nodar Khaduri said.