IMF allocates $285.3 million to Georgia for reforms

Georgia will get $285.3 million in the next three years from the International Monetary Fund (IMF) to carry out a package of economic reforms in the country.

"The IMF Executive Board approved a three-year extended arrangement under the Extended Fund Facility (EFF) for Georgia for an amount of about $285.3 million to support the authorities’ economic reform program," the IMF said in a press release.

The IMF noted that the goal of the Extended Fund Facility program is to help Georgia reduce economic vulnerabilities and promote economic growth.