Georgia will receive an additional 111 million dollars from the IMF

2021/04/90809-1618303310.jpg
Read: 942     11:00     13 Апрель 2021    

Georgia will receive an additional $ 111 million from the International Monetary Fund (IMF). This is reported by the National Bank of Georgia.

The regulator also reports a forecast: the Georgian economy is expected to resume growth from the second quarter of 2021, and GDP will grow by 3.5% during the year.

According to the National Bank of Georgia, with the end of the eighth review, the program supported by the IMF, which has increased Georgia's resilience to shocks and its ability to successfully cope with the COVID-19 pandemic, is coming to an end.

The implementation of sound macroeconomic policies and structural reforms will make the economic recovery process more sustainable and comprehensive. On April 9, the IMF Executive Board completed the eighth review of Georgia's Economic Reform Program without a formal review.

This program is supported under the IMF's "Extended Funding Facility" with 4-year funding. This is the final review of this program, and upon its completion, SDR 78 million, or approximately $ 111 million, will be available for Georgia.

After this tranche, the total amount of transfers to Georgia will amount to 484 million rubles. SDR (approximately $ 687 million), " the National Bank said in a statement.

 

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Georgia will receive an additional 111 million dollars from the IMF

2021/04/90809-1618303310.jpg
Read: 943     11:00     13 Апрель 2021    

Georgia will receive an additional $ 111 million from the International Monetary Fund (IMF). This is reported by the National Bank of Georgia.

The regulator also reports a forecast: the Georgian economy is expected to resume growth from the second quarter of 2021, and GDP will grow by 3.5% during the year.

According to the National Bank of Georgia, with the end of the eighth review, the program supported by the IMF, which has increased Georgia's resilience to shocks and its ability to successfully cope with the COVID-19 pandemic, is coming to an end.

The implementation of sound macroeconomic policies and structural reforms will make the economic recovery process more sustainable and comprehensive. On April 9, the IMF Executive Board completed the eighth review of Georgia's Economic Reform Program without a formal review.

This program is supported under the IMF's "Extended Funding Facility" with 4-year funding. This is the final review of this program, and upon its completion, SDR 78 million, or approximately $ 111 million, will be available for Georgia.

After this tranche, the total amount of transfers to Georgia will amount to 484 million rubles. SDR (approximately $ 687 million), " the National Bank said in a statement.

 

newsgeorgia.ge





Tags: