Georgia: Staff Report for the 2006 Article IV Consultation, Third Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria
IMF Staff Country Reports, May 16, 2006
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- Georgia: Staff Report for the 2006 Article IV Consultation, Third Review Under the Poverty Reduction and Growth Facility, and Request for Waiver of Performance Criteria
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Bibliographic details
- Published: May 16, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451814613.002
Summary and Key Findings
- Publication date: May 16, 2006.
- The report "highlights that Georgia’s economy has performed well over the last two years, and the fiscal turnaround has been impressive."
- Since the change in government in late 2003, Georgia has demonstrated:
- "strong fiscal performance"
- "a renewed commitment to press ahead with structural reforms, including the privatization of state-owned enterprises and further legal, fiscal, and financial reforms."
- Executive Directors' assessment:
- "welcomed the gains from the far-reaching tax reform enacted by the authorities in 2005"
- "encourag[ed] them to continue strengthening tax administration."
Fiscal and Structural Reform Findings
- Fiscal turnaround described as "impressive."
- Structural reform commitments include:
- Privatization of state-owned enterprises.
- Further legal reforms.
- Further fiscal reforms.
- Further financial reforms.
- Tax policy developments:
- "Far-reaching tax reform enacted by the authorities in 2005" recognized as a positive gain.
- Continued focus recommended on strengthening tax administration.
Scope, Subjects, and Keywords
- Subject: Arrears, Currencies, Expenditure, External debt, Monetary base, Money, Revenue administration
- Keywords: Arrears, authorities' trade liberalization strategy, authority, Baltics, CR, Currencies, Eastern Europe, executive board discussion, Global, government, import tariff band, ISCR, Monetary base, PRGF arrangement, staff appraisal, tariff rate