{
  "title": "Georgia: Technical Assistance Report-Operationalizing the New Bank Recovery and Resolution Framework",
  "publication": "IMF Staff Country Reports, March 22, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/03/21/georgia-technical-assistance-report-operationalizing-the-new-bank-recovery-and-resolution-531213",
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  "summary": "This technical assistance report on Georgia focuses on operationalizing the new bank recovery and resolution frameworks. The economic environment has improved, as coronavirus disease, 2019 has been brought under control but there are new challenges emerging.",
  "sections": [
    {
      "heading": "Macro-financial context and risks",
      "content": "- The economic environment has improved, as coronavirus disease, 2019 has been brought under control.\n- New challenges are emerging, including:\n  - Economic growth is strong.\n  - Interest rates have risen.\n  - The exchange rate is historically high.\n  - Credit maintains a high growth rate.\n  - Increasing international commodity prices have contributed to rising inflation and inflationary expectations."
    },
    {
      "heading": "Mission activities and analytical tools",
      "content": "- The mission reviewed the benchmarking analysis and acknowledged the significant work done by the resolution function.\n- The benchmarking tool:\n  - Allowed a clear comparison of recovery options and scenarios among the different recovery plans.\n  - Will be important for the assessment while providing banks with useful feedback.\n- The mission delivered a simulation to help the authorities’ benchmark their progress on resolution planning and preparedness."
    },
    {
      "heading": "Findings",
      "content": "- Benchmarking analysis is useful for comparing recovery options and scenarios across different recovery plans.\n- The resolution function has completed significant preparatory work recognized by the mission.\n- Simulations can operationally assist authorities in assessing resolution planning and preparedness."
    },
    {
      "heading": "Policy recommendations and operational advice",
      "content": "- Further improvement to the benchmarking tool is suggested by the mission.\n- Keep the benchmarking instrument simple and scalable.\n\n---\n\n Content in this bundle\n\n- 1geoea2023002 - Preface\n  - 1geoea2023002 - Preface (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1geoea2023002 - Preface (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "[Markdown version](/en/publications/cr/issues/2023/03/21/georgia-technical-assistance-report-operationalizing-the-new-bank-recovery-and-resolution-531213/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2023/03/21/georgia-technical-assistance-report-operationalizing-the-new-bank-recovery-and-resolution-531213/index.json)",
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    "Published: March 22, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400238406.002",
    "The economic environment has improved, as coronavirus disease, 2019 has been brought under control.",
    "New challenges are emerging, including:",
    "The mission reviewed the benchmarking analysis and acknowledged the significant work done by the resolution function.",
    "The benchmarking tool:",
    "The mission delivered a simulation to help the authorities’ benchmark their progress on resolution planning and preparedness.",
    "Benchmarking analysis is useful for comparing recovery options and scenarios across different recovery plans.",
    "The resolution function has completed significant preparatory work recognized by the mission.",
    "Simulations can operationally assist authorities in assessing resolution planning and preparedness.",
    "Further improvement to the benchmarking tool is suggested by the mission.",
    "Keep the benchmarking instrument simple and scalable.",
    "**1geoea2023002 - Preface**"
  ],
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