Georgia: Selected Issues
April 21, 2011
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During the twin crises of 2008–09 Georgia’s foreign exchange reserves have been exposed to a number of external and internal drains. Its exports declined by 21 percent from peak to trough. Bank deposits declined by more than 20 percent in late 2008–early 2009, while deposit dollarization increased sharply. FDI declined from 16.4 percent of GDP in 2007 to an estimated 5 percent of GDP in 2010. Georgia was able to limit the impact of these drains on its international reserves.
Subject: Balance of payments, Central bank policy rate, Central banks, Commodity prices, Foreign direct investment, Inflation, International reserves, Prices, Reserve positions
Keywords: adequacy indicator, commodity price, Commodity prices, CR, deposit dollarization, equity portfolio holding, Europe, exchange rate, Foreign direct investment, Georgia, Global, Inflation, International reserves, ISCR, price, rate, Reserve positions, tax productivity, Western Europe
Pages:
43
Volume:
2011
DOI:
Issue:
093
Series:
Country Report No. 2011/093
Stock No:
1GEOEA2011003
ISBN:
9781455249282
ISSN:
1934-7685
