Home / Georgia / Georgian PM mulls economic processes with IMF mission

Georgian PM mulls economic processes with IMF mission

Georgia’s Prime Minister Irakli Garibashvili and representatives of a mission of the International Monetary Fund (IMF) mulled the economic processes and activities planned by Georgian government, Georgia Online reported March 3.

The parties also discussed the situation in the region, and the factors that have affected the country’s economy, Georgia Online said citing the prime minister’s press service.

Reportedly, during the meeting it was noted that as part of the mission, risk analysis and assessment of current economic processes and macroeconomic parameters would be carried out jointly with Georgia’s government and national bank.

IMF in July 2014 approved a three-year program to lend Georgia some 100 million special drawing rights (SDR, equal to about $154 million) through the Stand-by-Arrangements.

The first tranche allocated immediately stood at $62 million.

The program is aimed at reducing macroeconomic risks, supporting economic growth and the economy’s durability to external impacts.

IMF completed in December 2014 the first review of economic indicators of Georgia on the three-year program.

The program’s completion made it possible to provide Georgia with the second tranch of 40 million SDR (about $58.1 million) through the Stand-by-Arrangements.

Following this the total allocated funds reached 80 million SDR ($116.3 million).

 

Source: http://www.trend.az/