Baku, Azerbaijan, June 22. The International Monetary Fund (IMF) provided a $280 million (100 percent of quota and special drawing rights SDR $210.4 million) stand-by arrangement for the next three years to Georgia, Trend reports via IMF.
"As Georgia recovers from the COVID-19 pandemic and manages the effects of the conflict in Ukraine, IMF-supported program aims to further reinforce macroeconomic stability, build resilience in the country", the financial institution said.
IMF's stand-by arrangement, which Georgia want to treat as a preventative measure, will help to achieve the objectives of the adopted plan by local authorities to reduce the fiscal deficit, inflation, and external vulnerabilities, as well as moving forward with the crucial structural reforms to boost the country's economy.