Baku, Azerbaijan, June 21
Trend:
The IMF directors at their meeting approved the fourth review of the program on Georgia and decided to allocate the fifth tranche to the country in the amount of $41.4 million, Trend reports with reference to the statement of the International Monetary Fund (IMF).
The IMF said Georgia’s economic indicators are still encouraging: the growth rates of the economy are stable, inflation can be controlled, and the country's vulnerability to external factors is reduced.
The document notes that, despite this positive outlook, the government should be ready to deal with the possible negative consequences of the external situation for the country's economy.
“The country must continue to pursue structural reforms to foster higher and more inclusive growth,” the IMF said in a statement.
The IMF approved a three-year program aimed at supporting economic reforms in Georgia in April 2017. The agreement provides for the allocation of $297.5 million to Georgia, of which more than $207.2 million has already been received by Georgia. Georgia will be able to receive the remaining amount during the year, on condition of a successful completion of two semi-annual reviews.
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