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International Monetary Fund Starts $285 million Program in Georgia

International Monetary Fund starts a three-year project of 285 million in Georgia, – mission of IMF finishes the visit with such a result.

IMF supports the program with “extended funding mechanism”. To note, 201,4 million SDR ( over $285 million) will be allocated within the frame of the program, i.e. sum equal to Georgia’s quota in the IMF.

“Executive Board of Directors of IMF will discuss the issue in the middle of April,”Mercedes Vera Martin said.

The president of National Bank of Georgia noted that the program would support reserves of NBG and he regarded, that launch of the program would be a positive signal for investors.

“This is extended funding mechanism, which is allocated for those countries, which have short term problems in the balance of payments,” said Gvenetadze.