Georgia: Financial System Stability Assessment

September 21, 2021

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Format: Chicago

Georgia: Financial System Stability Assessment, (USA: International Monetary Fund, 2021) accessed September 19, 2024

Summary

A recovery from the Covid-19 pandemic now underway in Georgia has benefited from a recent pickup in external demand and substantial fiscal support. Significant exchange rate depreciation, global commodity price increases and supply constraints have contributed to inflationary pressures and provided impetus for the authorities to start tightening monetary policy during 2021. Credit growth slowed during the pandemic but has since picked up again. Household and firm indebtedness is relatively high reflecting rapid credit growth in recent years. Banks face elevated credit risks as they carry high exposure to unhedged borrowers in foreign currency, some of whom are facing debt-servicing difficulties due to the pandemic.

Subject: Countercyclical capital buffers, Credit, Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Financial sector stability, International organization, Loans, Monetary policy, Money

Keywords: Central Asia and the Caucasus, Countercyclical capital buffers, Credit, Deposit dollarization, Dollarization measure, Financial Sector Assessment Program, Financial sector stability, FSAP finding, FSAP scenario, Global, IMF TA mission, Loans, Stress test scenario

Publication Details

Pages:

59
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/216
Stock No:

1GEOEA2021003
ISBN:

9781513598321
ISSN:

1934-7685

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