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Georgia

Tbilisi, Georgia. Photo by lohaspackers1234

Georgia Resident Representative Site

Resident Representative Office in Georgia

This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Georgia and the IMF. Additional information can be found on Georgia and IMF country page, including official IMF reports and Executive Board documents in English that deal with Georgia.

News — Highlights

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Roundtable discussion at the Ivane Javakhishvili Tbilisi State university

Mr. Azim Sadikov, IMF Resident Representative in Georgia had discussion on the Georgian economy and its challenges within the students of the Ivane Javakhishvili Tbilisi State University; November 26, 2015 click for more

Interview of Azim Sadikov, IMF Resident Representative to TV Imedi

November 5, 2015 click for more

Macroeconomic Developments in Caucasus and Central Asia, October 30, 2015

The Caucasus and Central Asia (CCA) region continues to deal with a wave of external shocks according to Azim Sadikov, IMF Resident Representative in Georgia who presented the IMF’s latest regional assessment on October 30, 2015. These shocks—a sharp drop in commodity prices, the slowdown in Russia, a plunge in the value of the Russian Ruble, and a strengthening of the U.S. dollar—have weakened economic prospects in the region. The shocks are likely to be long lasting, and hence the region needs to adjust to the new realities. Greater exchange rate flexibility can help buffer shocks, prevent reserve drawdowns, and protect competitiveness. Where external stability is a concern, fiscal policy needs to stay tight. Monetary policy should continue to focus on anchoring inflation expectations, mindful of its impact on the financial sector and output. Sustained inclusive growth hinges on reforms to remove key structural impediments to vibrant private sector development. Representatives of the Georgian government, the National Bank of Georgia, the business community, the diplomatic corps, the civil society, and the press attended the presentation and participated in discussions. click for more

Interview of Azim Sadikov, IMF Resident representative to the Maestro TV

October 19, 2015 click for more

Interview of Azim Sadikov, IMF Resident representative to the Georgian Business Consulting (GBC)

October 19, 2015 click for more

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Georgia and The IMF

IMF Program Note on Georgia

April 4, 2016
Program Note on Georgia click for more

Press Release: IMF Staff Statement at the End of a Review Mission to Georgia

December 8, 2015

The Coordinated Direct Investment Survey Guide 2015

October 8, 2015
Author/Editor: Rita Mesias  click for more

How to De-Dollarize Financial Systems in the Caucasus and Central Asia?

September 23, 2015
Author/Editor: Sami Ben Naceur ; Amr Hosny ; Gregory Hadjian
Series: Working Paper No. 15/203
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Georgia: Concluding Statement of an IMF Staff Visit

March 4, 2015

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Caucasus and Central Asia

image from the publication cover

Oil Price Decline and Regional Spillovers Darken the Outlook

Economic activity in the Caucasus and Central Asia (CCA) will continue to decelerate in 2015 mainly as a consequence of lower commodity prices and spillovers from Russia's slowdown. Where fiscal space and available financing allow, temporary fiscal easing would help economies respond to weakening demand and declining remittances. Over the medium term, fiscal consolidation is needed to rebuild depleted buffers and adjust spending plans to the new regional and global economic context. In light of the depreciation of the ruble and the appreciation of the dollar, greater exchange rate flexibility would ease pressure on reserves while helping oil exporters adjust to lower oil prices. Monetary policy may need to be tightened to keep inflation expectations anchored in the face of weakening currencies. Over the medium term, deep structural reforms, particularly to improve the business climate and governance, would raise prospects and make economic growth more inclusive and diversified.