Georgia, Tbilisi, March 22 / Trend , N. Kirtskhalia /
The International Monetary Fund ((IMF) has once again drawn attention to the tough loan terms on the Georgian banking sector. Despite an easing monetary policy, the terms of lending at banks remain tough, the IMF said. The amount of outstanding loans is high, the bank noted, and there is also currency fluctuation placing banks at risk.
However, the IMF stressed obvious signs of economic recovery in Georgia, but emphasized the need to increase investments and lending for economic recovery.
The IMF made this statement after consenting to allocate a loan worth $149 million to Georgia under an anti-crisis program.
In addition, the IMF agreed to ease certain terms within the program related to the reduction of the upper limit of exchange reserves and budget deficits.