Economy
Posted: 2 weeks ago

IMF Executive Board Approves US$280 million Stand-By Arrangement for Georgia

The Executive Board of the International Monetary Fund (IMF) today approved a US$280 million StandBy Arrangement for Georgia which provides support for the authorities’ economic policies over the next three years.

The Board’s decision makes about US$40 million (SDR 30 million or 14.3 percent of Georgia’s quota) immediately available. The Georgian authorities intend to treat the new arrangement as precautionary.

The authorities’ IMF-supported program seeks to further entrench macroeconomic stability, build resilience, and strengthen medium-term growth as the country emerges from the COVID19 pandemic and contends with spillovers from the war in Ukraine.