Georgia discussed launching of new co-op program with IMF

Georgia Materials 14 October 2021 10:21 (UTC +04:00)
Georgia discussed launching of new co-op program with IMF

BAKU, Azerbaijan, Oct. 14

By Maryana Akhmedova – Trend:

Georgia and the International Monetary Fund discussed the importance of launching a new cooperation program to support new reforms in the country, Trend reports via Georgian media.

During the annual fall meetings of the IMF and the World Bank, the Minister of Finance Lasha Khutsishvili met with the Deputy Managing Director of the International Monetary Fund Bo Li in a virtual format.

The meeting was attended by the President of the National Bank Koba Gvenetadze, and Subir Lali, Deputy Director of the IMF Middle East and Central Asia Department.

The parties reviewed the issues of cooperation between Georgia and the IMF, as well as the results achieved within the IMF financing program, and discussed the possibilities of future partnership.

The Georgian side thanked the IMF for supporting Georgian reform agenda. Parties focused on the social and economic impact of the COVID-19 pandemic, measures taken in 2020-2021 and assistance provided by international partners.

The dynamics of economic recovery from the current year is positive and Georgia is returning to the macroeconomic indicators of the pre-pandemic period, Georgian side noted. Georgia will also take significant steps towards fiscal consolidation and reforms from 2022.

The Georgian side noted the importance of launching a new program with the IMF, which will help support the reform of state-owned enterprises, management of fiscal risks and public finances, etc. Sides hoped that active negotiations on these issues will begin in the nearest future.


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