We are working to launch a new program with Intentional Monetary Fund (IMF), based on government’s 4-clause plan, Finance Minister Nodar Khaduri told the Business Contract.
Both parties want to continue relations from a clean sheet of paper. At this stage, the Minister could not specify the new program’s volume and noted that details would be clarified after the IMF mission arrival in Georgia.
Nodar Khaduri also talked about incomplete 2nd and 3rd reviews and noted that many issues have been agreed successfully, including institutional issues (separation of financial monitoring agency from the national bank). And now we are working on budget deficit volume, he added.
“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.
As reported, IMF launched program in Georgia in 2014 and allocated 10 million SDR to the country, of which 80 million has been spent. The country cannot receive the remaining part before completion of 2nd and 3rd reviews.