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Francois Painchaud: IMF Publishes Its Works Following Government’s Approval

“The Monetary Fund publishes its works in case of receiving consent from the government,” Francois Painchaud, a representative of the International Monetary Fund told Bm.ge. They don’t specify at the fund, which survey was discussed by former Prime Minister Bidzina Ivanishvili. In addition, they explain the research, fund conducts  and …

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IMF Executive Board Concludes 2018 Article

The Executive Board of the International Monetary Fund (IMF) approved the completion of the second review of the three-year Extended Fund Facility (EFF) arrangement for Georgia. The EFF was approved on April 12, 2017 for an of SDR 210.4 million (about US$285 million or 100 percent of quota at the …

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Warranty Fund is Last Attempt to Prevent Crisis Tendencies

“I would like to back the initiative by Ministry of Economy for establishing a warranty fund. This idea requires a support from International Monetary Fund (IMF). Therefore, we are conducting active negotiations with them”, Roman Kakulia, head of the parliament’s economic policy committee, noted. “This is the last attempt of …

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IMF Names 3 Main Challenges of Georgia

Mercedes Vera-Martin

”Infrastructure, competitiveness and education is the main challenges for Georgia,”- said Mrs. Mercedes Vera Martini, head of the International Monetary Fund’s mission to Business Morning. ”Those are the main barriers for inclusive growth. Economics should create job places, every citizen to feel the result of development. It’s also very important …

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IMF Increased Georgia’s Economic Growth Forecast

The International Monetary Fund is expecting 4.5% economic growth in Georgia this year, which is a 0.3% increase compared to previous forecast.According to the Fund’s prediction, economic growth in Georgia will accelerate to 4.8% in 2019. In addition, the current level of inflation in Georgia will be 3.6%, and in …

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Government should Leave Fiscal Space for Major Infrastructural Projects

“Government strategy for the state budget calls for cutting the accrued expenses to leave fiscal space for major infrastructural projects”,  Francois Painchaud, IMF Resident Representative in Georgia, told the BM.GE. Salaries constitute one of the key components of the accrued expenses. “In 2017 the Government managed to cut expenses. Government …

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IMF Staff Concludes Visit to Georgia

IMF Georgia

An International Monetary Fund (IMF) team, led by Ms. Mercedes Vera-Martin, visited Tbilisi during February 7-13, 2018 to discuss recent economic and financial developments and progress with structural reforms. At the conclusion of the visit, Ms. Vera-Martin issued the following statement: “Economic developments in 2017 were positive. Growth reached 4.8 …

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To Catch up and Surpass Belarus

According to IMF Forecast, by 2022 Georgia will Go Richer of Albania and Bosnia and Catch up Belarus. According to International Monetary Fund (IMF), Georgia’s GDP per capita will exceed 4.123 USD in 2017. As a result, for the first time in the 21st century, Georgia will move to the …

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The IMF Expects to Mobilize FDI in Tradable Sectors

The IMF Expects to Mobilize FDI in Tradable Sectors

The International Monetary Fund (IMF) expects to mobilize Foreign Direct Investments (FDI) in tradable sector. Georgia continues to promote trade integration. Free Trade Agreements (FTAs) will help mobilize FDI in tradable sectors, improve competitiveness, reduce external imbalances and generate more balanced growth, – the IMF declared, which recently completed the …

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Georgia’s 2018 Budget Appropriately Targets Further Fiscal Consolidation

The 2018 budget appropriately targets further fiscal consolidation, IMF reports. The 2018 budget envisages a further decline in the deficit while allowing for an increase in capital spending. To achieve this, efforts to strengthen revenue administration should continue, especially to prevent the buildup of VAT claims. The authorities should also …

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Georgia Receives $42,4 Million From IMF

The Executive Board of the International Monetary Fund (IMF) completed the First Review of Georgia’s performance under the three-year extended arrangement under the Extended Fund Facility (EFF) on a lapse of time basis. The completion of the review enables the release of SDR 30 million (about $42.4 million), bringing total …

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