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Georgian Finance Minister to Meet IMF Mission

Georgia Materials 14 August 2006 14:02 (UTC +04:00)

The mission of the International Monetary Fund (IMF) to meet Aleksiy Alekseshvili in Tbilisi on August 14.

According to the preliminary information, the key issues of the meeting will be parameters of the state budget and the fiscal policy, the Ministry of Finance of Georgian told Trend `s reporter.

The Finance Minister will inform the members of the mission about the process of reforms in the country`s fiscal offices, and how the process of unifying of customs, tax service and financial policy goes.

The IMF mission arrived in Tbilisi on August 11. Its members will meet the government officials and get acquainted with the process of implementation of the Program on Overcoming of Poverty and Economic Development (PRGF).

The fourth review within the PRGF program is expected to be completed till the end of 2006. The program of financial aid to Georgia within PRGF was affirmed by the IMF Executive Committee on June 4, 2004.

The IMF Executive Committee made a decision on granting of a new credit to Georgia at the rate of $141, 4 m. to support the economic program of the Georgiuan Government for the period from June 2004 to June 2007. The credit was granted for the term of 10 years on 0,5 per cent per annum with a 5, 5 year of the grant period.

Within the existing credit up today Georgia has received four tranches with the total volume of $81 m. The IMF tranches are aimed at the replenishment of international exchange reserves of the National Bank of Georgia that now exceed $0,5 b.

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