{
  "title": "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",
  "publication": "IMF Staff Country Reports, April 13, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/04/13/georgia-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-44834",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2017/04/13/georgia-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-44834",
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  "summary": "This paper discusses Georgia’s Request for Extended Arrangement under the Extended Fund Facility and Cancellation of Stand-by Arrangement (SBA).",
  "authors": [
    "Arrangement-Press Release"
  ],
  "publishDate": "2017-04-13",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Program overview and objectives",
      "content": "- The authorities in Georgia have formulated a comprehensive program to preserve macro and financial stability and advance structural reforms to bolster growth.\n- 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.\n- 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."
    },
    {
      "heading": "Key findings and support",
      "content": "- IMF staff supports approval of the three-year Extended Arrangement under the Extended Fund Facility.\n- IMF staff supports cancellation of the Stand-By Arrangement (SBA).\n- Emphasis on preserving macro and financial stability while advancing structural reforms to bolster growth.\n- Fiscal strategy centers on consolidation over the medium term and reorientation of spending toward capital investment to address infrastructure bottlenecks."
    },
    {
      "heading": "Policy emphasis and reform priorities",
      "content": "- Fiscal consolidation over the medium term.\n- Maintain debt at its current level.\n- Shift spending toward capital investment to relieve infrastructure bottlenecks.\n- Advance structural reforms to bolster growth and preserve macro and financial stability."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Banking, External debt, Financial institutions, Loans, Public debt, Revenue administration, Tax administration core functions\n- 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\n\nSource: 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).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/04/13/georgia-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-44834"
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    "Authors: Arrangement-Press Release",
    "Published: April 13, 2017",
    "Series: IMF Staff Country Reports",
    "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.",
    "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.",
    "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.",
    "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",
    "**Country Report**"
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