Executive Board
Board Discussions
on Georgia:

April 12, 2017
July 11, 2016
July 10, 2013
March 13, 2013
April 11, 2012

Article IV Staff Reports

Financial Sector Assessment Program

Projected % Change
   2017  2018
Real GDP 3.5 4
Consumer Prices 5.7 2.4
Source: World Economic Outlook (April 2017)
Please refer to more recent Press Release/Staff reports on this country for possible revisions.

Georgia: Financial Position in the Fund

Transactions with the Fund

IMF Resident Representative Office in Georgia

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Georgia and the IMF
Updated June 12, 2017

On July 11th, the Executive Board of the International Monetary Fund concluded the consideration of the Article IV Consultation of Georgia.

Under Article IV of its Articles of Agreement, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system. The IMF’s appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country. IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials. Upon its return, the staff submits a report to the IMF’s Executive Board for discussion. The Board’s views are subsequently summarized and transmitted to the country authorities.

The authorities need more time to consider the publication of the staff report and the related press release.

The last Article IV Executive Board Consultation was on July 11, 2016. Listed below are items related to Georgia, in reverse chronological order (you can also view items by category).

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September 01, 2003 -- Nominal Anchors in the CIS
Author/Editor: Keller, Peter | Richardson, Thomas J.
Series: Working Paper No. 03/179
August 27, 2003 -- Georgia: Poverty Reduction Strategy Paper
Series: Country Report No. 03/265
June 12, 2003 -- Transcript of a Press Briefing by Thomas C. Dawson, Director, External Relations Department, IMF
May 27, 2003 -- Georgia: Report on the Observance of Standards and Codes--Data Module; Response by the Authorities; and Detailed Assessments Using Data Quality Assessment Framework
Series: Country Report No. 03/140
April 12, 2003 -- IMFC Statement by Nout Wellink on behalf of Hans Hoogervorst, Minister of Finance of the Netherlands, April 12, 2003
The International Monetary and Financial Committee statement on behalf of the the constituency comprising Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, former Yugoslav Republic of Macedonia, Moldova, Netherlands, Romania, Ukraine
January 22, 2003 -- Press Release: Lucerne Conference on the CIS-7 Initiative
December 16, 2002 -- News Brief: CIS-7 Poverty Reduction Strategy Forum Sees New Opportunity to Reduce Poverty
December 04, 2002 -- Georgia: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Request for Waiver of Performance Criteria, and Request for Rephasing of Disbursements--Staff Report; and News Briefs on the Executive Board Discussion
Series: Country Report No. 02/261
December 01, 2002 -- Cross-Border Issues in Energy Trade in the CIS Countries
Author/Editor: Dodsworth, John | Mathieu, Paul Henri | Shiells, Clinton R.
Series: Policy Discussion Paper No. 02/13
September 28, 2002 -- Statement by Hans Hoogervorst, Minister of Finance of the Netherlands, IMFC Meeting, Washington, D.C., September 28, 2002
The International Monetary and Financial Committee statement on behalf of Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, Former Yugoslav Republic of Macedonia, Moldova, the Netherlands, Romania, and Ukraine
September 28, 2002 -- Press Briefing on Developments in Baltic and CIS Countries, Opening Remarks by John Odling-Smee, Director, European II Department, IMF
July 25, 2002 -- News Brief: IMF Completes Second Review of Georgia's PRGF Arrangement
July 12, 2002 -- News Brief: IMF Completes Second Review of Georgia's PRGF Program and Approves In Principle US$30 Million Disbursement
June 27, 2002 -- Joint Staff Assessment of the PRSP Preparation Strategy Report
Evaluates the strengths and weaknesses of a country's poverty reduction objectives and strategies, and in it the staffs of the IMF and World Bank make recommendations about whether the PRSP or IPRSP provides a sound basis for concessional assistance from the Bank and Fund, as well as for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Debt Initiative. PDF File Size: 392Kb
June 27, 2002 -- Georgia -- Letter of Intent, Memorandum of Economic and Financial Policies, Technical Memorandum of Understanding, June 27, 2002
This Letter of Intent of the government of Georgia describes the policies that Georgia intends to implement in the context of its request for financial support from the IMF.
May 30, 2002 -- Georgia Poverty Reduction Strategy Paper Preparation Status Report, May 30, 2002
Describes the country's macroeconomic, structural, and social policies in support of growth and poverty reduction, as well as associated external financing needs and major sources of financing.
April 29, 2002 -- Improving Large Taxpayers' Compliance : A Review of Country Experience
Author/Editor: Olivier P. Benon | Katherine Baer | Juan Toro R.
Series: Occasional Paper No. 215
April 20, 2002 -- Press Release: Ministers Endorse International Initiative for Seven Poor Countries of the Commonwealth of Independent States
April 20, 2002 -- Statement by Governor Nout Wellink, on behalf of Gerrit Zalm, Minister of Finance of the Netherlands, at the International Monetary and Financial Committee, Washington, D.C., April 20, 2002
The International Monetary and Financial Committee member for the constituency consisting of Republic of Armenia, Bosnia and Herzegovina, Bulgaria, Republic of Croatia, Cyprus, Georgia, Israel, former Yugoslav Republic of Macedonia, Republic of Moldova, Kingdom of the Netherlands-Netherlands, Romania, and Ukraine
February 04, 2002 -- Poverty Reduction, Growth and Debt Sustainability in Low-Income CIS Countries
Armenia, Azerbaijan, Georgia, the Kyrgyz Republic, Moldova, Tajikistan and Uzbekistan are the poorest countries in the CIS, and their transition to market-based economies over the past decade has been extremely difficult. In many cases, the economic disruptions created by the break-up of the former Soviet Union were compounded by diverse shocks, including armed conflicts and massive changes in the terms of trade. For the group as a whole, real GDP fell by an average of almost 50 percent between 1990 and 1995, and poverty and inequality increased substantially. Since then, growth has resumed, but both financial and physical (life expectancy and nutritional status) indicators of living standards remain depressed or may have deteriorated in some countries. In several cases, a large volume of external debt has also been accumulated, undermining prospects for growth and poverty reduction.

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