Georgia: Financial System Stability Assessment
IMF Staff Country Reports, September 21, 2021
Source details
- Canonical URL
- Georgia: Financial System Stability Assessment
Other formats
Bibliographic details
- Published: September 21, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513598321.002
Summary findings
- 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.
Subjects and keywords
- 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 Caucuses; 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
Content in this bundle
- Georgia: Financial System Stability Assessment; IMF Country Report No. 21/216; September 14, 2021