This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Georgia and the IMF. Additional information can be found on Georgia and IMF country page, including official IMF reports and Executive Board documents in English that deal with Georgia.

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At Glance: Georgia's Relations with the IMF

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News and Highlights

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Georgia and the IMF

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REGIONAL ECONOMIC OUTLOOK: Caucasus and Central Asia

MCD REO Generic Cover English
Reforms Needed to Weather Shocks from Commodity Prices and Russia
October 2015

A wave of external shocks—a sharp drop in commodity prices, the slowdown in Russia, a plunge in the value of the Russian ruble, and a strengthening of the U.S. dollar—have weakened economic growth in the CCA region despite countercyclical fiscal policies aimed at supporting output. Exchange rates either depreciated or were devalued, creating inflation pressures and limiting scope for monetary easing. Growth is expected to pick up only modestly in 2016 as the external environment is likely to remain challenging. Fiscal policy needs to ensure that the near-term accommodation is sustainable in the medium term. Greater exchange rate flexibility will protect external buffers and help mitigate external imbalances, but needs to be accompanied by stronger supervision to ensure financial sector stability. Accelerating structural reforms will be key to boosting growth in the medium term. Read the report