IMF representative: Georgia achieves macroeconomic stability

IMF representative: Georgia achieves macroeconomic stability

BAKU, Azerbaijan, Feb. 26

By Tamilla Mammadova – Trend:

Georgia has achieved macroeconomic stability, IMF representative in Georgia Selim Cakir said, Trend reports citing Georgian media.

He made the remark at the economic conference 'Georgia and the World 2020', organized by The Economist’s annual edition 'The World in 2020' and Georgian Ministry of Economy, which is being held in Tbilisi.

In his speech, the IMF representative told about the importance of reforms implemented in the financial sector of Georgia.

According to Cakir, the financial sector in Georgia is successful.

“A law recently passed by Georgian parliament will strengthen the financial sector of the country. Georgia has free trade agreements with many foreign countries, and at the same time, it has diversified its exports well. I hope this process continues,” said Cakir.

He noted thatreforms are necessary in the fields of agriculture, services and production of Georgia.

“We see that some changes have already occurred, but this process should continue. Today, education is a priority for the Georgian government. Ultimately, this process will contribute to the training of highly qualified and highly paid personnel,” said Cakir.

In turn, the World Bank’s Regional Director for the South Caucasus, Sebastian Molineus assessed the ongoing reforms in Georgia and the business environment.

“I think that ongoing reforms in education and healthcare will be crucial. I am pleased to see the government’s commitment to improving people's lives. Georgia’s business and investment climate is improving. Finally, a new foreign direct investment (FDI) strategy has recently been launched, and we are pleased to work with the government in this regard,” said Molineus.

The conference, which is organized by the Economist’s annual edition “The World in 2020” and the Ministry of Economy and Sustainable Development of Georgia, was opened by Prime Minister of Georgia Giorgi Gakharia.

This year, the event is attended by about 200 participants and guests, including the world-famous economist, professor at the Warsaw School of Economics, former vice-premier of Poland, former finance minister and former president of the National Bank of Poland Leszek Balcerowicz.

According to the conference organizers, the event aims to analyze the progress made by Georgia in the economic development and to discuss challenges and new opportunities in a global context.

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Follow the author on Twitter: @Mila61979356

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