Georgian gov't economic team, IMF official discuss cooperation

Georgian gov't economic team, IMF official discuss cooperation

An economic team of the Georgian Government and the Governor of the National Bank of Georgia on Wednesday discussed cooperation with the International Monetary Fund in a meeting with Director of the Fund’s Middle East and Central Asia Department Jihad Azour.

The Ministry of Economy said ministers and deputy ministers from the economy and finance ministries had been involved in the meeting that reviewed IMF’s new three-year, $280 million Stand-by Arrangement that aims to further strengthen microeconomic stability in Georgia. 

At the meeting, the Georgian officials noted the country's economic environment and indicators of economic growth throughout the first five months of the year.

The Ministry said their comments had emphasised Georgia’s "successful experience" in managing external shocks, as well as the maintenance of “high rates” of growth, sustainability and macroeconomic stability despite the "current geopolitical shock".

On his end, Azour said the IMF supported the economic programme developed by the Government amd focused on reducing the fiscal deficit, inflation and external vulnerabilities, as well as ensuring structural reforms necessary to boost growth.