Georgia and the IMF begin work on a new program of assistance to the country
The IMF approved a three-year program aimed at supporting economic reforms in Georgia in April 2017, but it was extended for another year due to the pandemic.
On April 8, Georgia will start negotiations on a new program of the International Monetary Fund, said the head of the National Bank of Georgia Koba Gvenetadze.
The IMF approved a three-year program aimed at supporting economic reforms in Georgia in April 2017. Later, due to the pandemic, the program was extended for another year and the final review of which will be on April 7.
"From April 8, we should start negotiations on a new IMF program. I think that the economic team will agree with this, as they are aware of the positive results this program brings, it is an umbrella that protects us in the case of egzogenic difficult situations and helps us in the implementation of macroeconomic policy," Gvenetadze told reporters.
According to him, negotiations on the new program were necessary since the last program expires on April 7.
"We had a three-year program of the IMF, which lasted for a year and the final review of which will be on April 7. The Executive Board of the IMF should decide on the completion of the program," Gvenetadze said.
The head of the National Bank expressed hope that the latest review will be completed successfully.
"I very much hope that the latest review will be successful. This will be a really successful four-year program implemented in Georgia with the help of the International Monetary Fund," Gvenetadze said.
The total amount of tranches for Georgia under the program was $ 585.4 million. Part of the funds went to Georgia's fight against the consequences of the coronavirus.
Sputnik-georgia.ru
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Georgia and the IMF begin work on a new program of assistance to the country
The IMF approved a three-year program aimed at supporting economic reforms in Georgia in April 2017, but it was extended for another year due to the pandemic.
On April 8, Georgia will start negotiations on a new program of the International Monetary Fund, said the head of the National Bank of Georgia Koba Gvenetadze.
The IMF approved a three-year program aimed at supporting economic reforms in Georgia in April 2017. Later, due to the pandemic, the program was extended for another year and the final review of which will be on April 7.
"From April 8, we should start negotiations on a new IMF program. I think that the economic team will agree with this, as they are aware of the positive results this program brings, it is an umbrella that protects us in the case of egzogenic difficult situations and helps us in the implementation of macroeconomic policy," Gvenetadze told reporters.
According to him, negotiations on the new program were necessary since the last program expires on April 7.
"We had a three-year program of the IMF, which lasted for a year and the final review of which will be on April 7. The Executive Board of the IMF should decide on the completion of the program," Gvenetadze said.
The head of the National Bank expressed hope that the latest review will be completed successfully.
"I very much hope that the latest review will be successful. This will be a really successful four-year program implemented in Georgia with the help of the International Monetary Fund," Gvenetadze said.
The total amount of tranches for Georgia under the program was $ 585.4 million. Part of the funds went to Georgia's fight against the consequences of the coronavirus.
Sputnik-georgia.ru
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