Georgia: Fourth Review Under the Extended Fund Facility Arrangement and Request for Modifications of Quantitative Performance Criteria-Press Release; Staff Report; and a Statement by the Executive Director for Georgia
June 19, 2019
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Recent economic developments. Economic performance remained robust in 2018: growth reached 4.7 percent, supported by external demand; inflation stayed below the three percent target, the fiscal deficit remained in line with program commitments, and the current account improved. Tighter lending standards helped decelerate credit growth towards more sustainable levels. The banking sector remains well capitalized, liquid, and profitable. Dollarization remains elevated. In early 2019, growth conditions were favorable, with average inflation slightly above the target reflecting increased excises.
Subject: Credit, External debt, Financial institutions, Foreign exchange, Loans, Money, Public debt
Keywords: Asia and Pacific, budget lending, Central Asia and the Caucasus, CR, Credit, current account, equity holding, Europe, Executive Board discussion, financial asset operation, government reform agenda, inflation-targeting framework, ISCR, Loans
Pages:
82
Volume:
2019
DOI:
Issue:
171
Series:
Country Report No. 2019/171
Stock No:
1GEOEA2019001
ISBN:
9781498320641
ISSN:
1934-7685
