Georgian Finance Minister, World Bank officials discuss macroeconomic parameters
Khutsishvili thanked the representatives of the Bank for their cooperation, pointing out the approaching 30-year anniversary of partnership between the sides. Photo: Georgian Finance Ministry
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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.
Georgia’s Finance Ministry said Khutsishvili had discussed the matters with Axel van Trotsenburg, the World Bank Managing Director of Operations, and Anna Bjerde, the Vice President for Europe and Central Asia of the institution.
The sides also reviewed the ongoing hostilities in Ukraine, Georgia's support for the country, and implementation of international sanctions against Russia for its invasion.
The discussion also focused on the recently reached deal between Georgia and the International Monetary Fund on a $289 million programme for macroeconomic and financial stability of the country, the Ministry said.
Khutsishvili thanked the representatives of the Bank for their cooperation, pointing out the approaching 30-year anniversary of partnership between the sides.
He also expressed his gratitude for the recently launched €358,500 million Human Capital Programme for Georgia, aiming at increasing the efficiency of service delivery in the fields of health and social care and boosting access to high-quality education.
The sides acknowledged the partnership within the Development Policy Operation, which seeks to contribute to promoting inclusive growth and increasing competitiveness of the private sector.
The total value of the World Bank portfolio in Georgia amounts to $990 million.
An agreement on the construction of a 17-km, four-lane, access-controlled highway in eastern Georgia’s winemaking region of Kakheti was signed between the Georgian Finance Minister Lasha Khutsishvili and the World Bank Regional Director for the South Caucasus, Sebastian Molineus, earlier today.
Lasha Khutsishvili, the Georgian Finance Minister, and Sebastian Molineus, the World Bank Regional Director for the South Caucasus, signed a €358,500 million agreement for the Human Capital Programme for Georgia on Wednesday.
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.
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.
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.
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 ruling Georgian Dream party marked the 10th anniversary of its foundation on Thursday with a statement that said it had formed the first Government in modern Georgian history during which the country did not experience war.
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.
Georgia’s readiness to implement reforms in the fields of energy security and independence, as well as the country’s infrastructure and the capital market were highlighted during a meeting between the Georgian Finance Minister Lasha Khutsishvili and Odile Renaud-Basso, the President of the European Bank for Reconstruction and Development, the Ministry announced on Thursday.
Significance of human capital development in Georgia was raised by the country’s Finance Minister Lasha Khutsishvili on Wednesday at an online forum organised by the World Bank.