IMF Staff Country Reports

Georgia: Financial Sector Assessment Program-Technical Note-Macroprudential Policies and De-Dollarization

Publication Date:

September 30, 2021

Electronic Access:

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Summary:

Since the 2015 FSAP, the NBG has significantly strengthened its institutional framework for macroprudential policy and put in place a comprehensive toolkit. Among other reforms, to strengthen the transparency of and accountability for macroprudential policy, the NBG published its Macroprudential Policy Strategy in 2019, which sets out five intermediate objectives: (i) mitigating and preventing excessive credit growth and leverage; (ii) mitigating and preventing excessive maturity mismatch and market illiquidity; (iii) limiting direct and indirect exposure concentrations; (iv) limiting the systemic impact of misaligned incentives with a view to reducing moral hazard; and (v) reducing dollarization of the financial system.

Series:

Country Report No. 2021/220

Subject:

Currencies Dollarization Financial sector policy and analysis Foreign exchange International organization Macroprudential policy Macroprudential policy instruments Monetary policy Money

Frequency:

regular