Georgia: First and Second Reviews Under the Stand-By Arrangement and Under the Standby Credit Facility Arrangement, and Request for Waiver of Nonobservance of Performance Criterion—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Georgia

April 3, 2013

Preview Citation

Format: Chicago

Georgia: First and Second Reviews Under the Stand-By Arrangement and Under the Standby Credit Facility Arrangement, and Request for Waiver of Nonobservance of Performance Criterion—Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Georgia, (USA: International Monetary Fund, 2013) accessed September 18, 2024

Summary

The new government is committed to prudent macroeconomic policies and to enhancing Georgia’s business-friendly environment. Large external liabilities plus its high current account deficit remain the main sources of vulnerability, and reducing these in an orderly manner is a key macroeconomic challenge. Greater exchange rate flexibility should help align its monetary policy and exchange rate decisions more closely with its inflation. Maintaining central bank independence and increasing monetary policy transparency are welcomed by the Executive Directors. The impressive structural agenda aims at improving the business environment and at boosting competitiveness.

Subject: Balance of payments, Current account deficits, External debt, Financial institutions, Foreign exchange, Loans, Public debt

Keywords: Authorities' plan, CR, Current account deficits, Georgian authorities, Government, ISCR, Loans, Program objective, SCF arrangement, Stand-by Credit Facility, Widening current account deficit

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/095
Stock No:

1GEOEA2013003
ISBN:

9781484323557
ISSN:

1934-7685

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