Baku, Azerbaijan, September 12
By Tamilla Mammadova – Trend:
The mission of the International Monetary Fund (IMF) noted positive dynamics in Georgia’s economic indicators, Trend reports citing the Ministry of Finance of Georgia.
Georgian Finance Minister Ivane Machavariani and Mercedes Vera-Martin, head of the IMF mission, discussed the implementation of the “extended financing mechanism” program.
The IMF approved a three-year program aimed at supporting economic reform in Georgia in April 2017. The agreement provides for the allocation of about $297.5 million, of which Georgia has already received more than $207.2 million. Georgia will be able to receive the remaining amount within a year, subject to the successful completion of two semi-annual reviews.
According to the Ministry of Finance, during the meeting, the parties also reviewed the economic situation in Georgia, the status of planned reforms and the main fiscal indicators for 2020.
Machavariani assured representatives of the IMF that the Georgian government will continue its policy aimed at protecting macroeconomic and fiscal stability, which is reflected in the low budget deficit and unsecured public debt indicators. The minister emphasized that continued implementation of the government reform plan is vital to ensure sustainable and inclusive economic growth in Georgia.
The IMF mission noted the stability of economic growth in Georgia, improving the current account deficit and reducing the country's vulnerability to external factors.