Georgian Finance Minister to participate in annual IMF, World Bank meetings
Khutsishvili, who began his visit to the United States earlier today, will hold high-level meetings with representatives of international financial institutions and various donor organisations, the Finance Ministry said. Photo: Georgian Finance Ministry
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Lasha Khutsishvili, the Georgian Finance Minister, will take part in annual meetings of the International Monetary Fund and the World Bank Group in the United States, the Ministry announced on Monday.
Set to run between April 18-24, the spring meetings will include discussions of ongoing projects and programmes in Georgia under the financial support of the international financial organisations and donors.
Image: Georgian Finance Ministry
Questions of future cooperation, opportunities for economic growth, and the increase of foreign investments in Georgia are also on the agenda, the Ministry said.
Participants will also review the overall economic situation and macroeconomic parameters of the country, as well as recommendations of the IMF and the World Bank.
Khutsishvili, who began his visit to the United States earlier today, will hold high-level meetings with representatives of international financial institutions and various donor organisations, the Finance Ministry said.
World Bank will allocate $400 million for the Human Capital Programme for Georgia, calling it “the largest cross-sectorial investment” for the country over 30 years of partnership.
World Bank will finance the $109 million construction project for a 17-km, four-lane, access-controlled highway in the Eastern Georgia’s winemaking region of Kakheti to facilitate connection between the province and the capital Tbilisi as part of the country’s highway network.
The submission of the questionnaire for Georgia’s European Union membership bid is a “very important process” that will be completed in the “shortest possible time”, Lasha Khutsishvili, the Minister of Finance of Georgia, said on Monday.
Georgia and the International Monetary Fund (IMF) have reached a deal on a $289 million programme for macroeconomic and financial stability of the country, the IMF mission chief James John announced on Friday.
Questions of cooperation between the International Finance Corporation and Georgia, and the IFC’s decision to increase its portfolio for Georgia in support of the private sector in the country were discussed during a meeting between Lasha Khutsishvili, the Georgian Finance Minister, and Damien Shiels, the Acting Regional Director of the IFC on Wednesday.
Current macroeconomic parameters of Georgia, the impact of the global pandemic on the country, and trends of economic recovery were discussed by Lasha Khutsishvili, the Georgian Finance Minister, and World Bank officials on Wednesday.
Georgian Finance Minister Lasha Khutsishvili said on Wednesday Georgia had “strong support” from the international financial organisations, which was reaffirmed during his visit to Washington.
The current macroeconomic and fiscal parameters of Georgia were discussed at a meeting between Lasha Khutsishvili, the Georgian Finance Minister, and International Monetary Fund high officials, the state body announced on Thursday.
The need for the central banks’ “vigilance” and monetary authorities’ “strong reaction” to a prolonged high inflation were the subjects raised by Koba Gvenetadze, the Head of the National Bank of Georgia, at a conference organised by the Columbia University, the Bank announced on Tuesday.
The International Monetary Fund has approved a three-year $280 million Stand-By Arrangement for Georgia aimed at financial resilience and growth, the institution announced on Wednesday.
Georgian authorities have adopted a programme supported by the International Monetary Fund and focused on addressing macroeconomic challenges of the country, Bo Li, the Deputy Managing Director of the IMF said on Tuesday.
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 Jihad Azour, the Director of the Fund’s Middle East and Central Asia Department.