## 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](https://www.imf.org/en/publications/cr/issues/2017/04/13/georgia-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-44834)

## Other formats

- [Markdown version](/en/publications/cr/issues/2017/04/13/georgia-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-44834/index.md)
- [Structured JSON version](/en/publications/cr/issues/2017/04/13/georgia-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-44834/index.json)
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## Bibliographic details
- Authors: Arrangement-Press Release
- Published: April 13, 2017
- Series: IMF Staff Country Reports

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### 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).*

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- **Country Report**
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_Source: https://www.imf.org/en/publications/cr/issues/2017/04/13/georgia-request-for-extended-arrangement-under-the-extended-fund-facility-and-cancellation-44834_