Georgia: Request for Extended Arrangement Under the Extended Fund Facility and Cancellation of Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Georgia
IMF Staff Country Reports, April 13, 2017
Source details
- Canonical URL
- Georgia: Request for Extended Arrangement Under the Extended Fund Facility and Cancellation of Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Georgia
Other formats
Bibliographic details
- Authors: Arrangement-Press Release
- Published: April 13, 2017
- Series: IMF Staff Country Reports
Program overview and objectives
- The authorities in Georgia have formulated a comprehensive program to preserve macro and financial stability and advance structural reforms to bolster growth.
- The program envisions fiscal consolidation over the medium term, anchored in keeping debt at its current level while shifting spending toward capital investment to address infrastructure bottlenecks.
- The IMF staff supports the authorities’ request for the approval of the three-year Extended Arrangement under the Extended Fund Facility and the cancellation of the SBA arrangement.
Key findings and support
- IMF staff supports approval of the three-year Extended Arrangement under the Extended Fund Facility.
- IMF staff supports cancellation of the Stand-By Arrangement (SBA).
- Emphasis on preserving macro and financial stability while advancing structural reforms to bolster growth.
- Fiscal strategy centers on consolidation over the medium term and reorientation of spending toward capital investment to address infrastructure bottlenecks.
Policy emphasis and reform priorities
- Fiscal consolidation over the medium term.
- Maintain debt at its current level.
- Shift spending toward capital investment to relieve infrastructure bottlenecks.
- Advance structural reforms to bolster growth and preserve macro and financial stability.
Subjects and keywords
- Subject: Banking, External debt, Financial institutions, Loans, Public debt, Revenue administration, Tax administration core functions
- Keywords: Asia and Pacific, Central Asia, Central Asia and the Caucasus, CR, EFF-supported program, Europe, executive board discussion, Global, government, ISCR, Loans, monetary policy transmission mechanism, reform, reform effort, reform strategy, right, Tax administration core functions
Source: Georgia: Request for Extended Arrangement Under the Extended Fund Facility and Cancellation of Stand-By Arrangement—Press Release; Staff Report; and Statement by the Executive Director for Georgia (April 13, 2017).
Content in this bundle
- Country Report