Georgian PM meets IMF Director to review arrangement for country’s economic stability
Georgian Prime Minister Irakli Garibashvili on Wednesday met Jihad Azour, the Director of the Middle East and Central Asia Department of the International Monetary Fund. Photo: PM's press office
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Georgian Prime Minister Irakli Garibashvili on Wednesday met Jihad Azour, the Director of the Middle East and Central Asia Department of the International Monetary Fund, to review the Fund’s new three-year, $280 million Stand-by Arrangement that aims to “further strengthen” microeconomic stability in Georgia.
The meeting also discussed Georgia's economic environment and indicators of growth throughout the first five months of the year, the Government Administration said, with the officials noting the country maintained "positive dynamics" with the economy growing by 11.2 percent between January-May.
At the meeting, Garibashvili also said energy independence, infrastructure development, food security and structural reforms were among priority areas for the Government.
Azour also met an economic team of the Government and the Governor of the National Bank of Georgia earlier today.
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.
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.
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.
Investment environment in Georgia, the current economic processes in the country, dynamics of economic recovery in the post-pandemic period and specific measures planned by the Government were discussed on Monday in a meeting between the Georgian Prime Minister Irakli Garibashvili and Kristalina Georgieva, the Managing Director of the International Monetary Fund.
Georgian finance minister Lasha Khutsishvili has discussed cooperation between Georgia and international financial institutions as part of his ongoing visit to the United States for annual meetings of the International Monetary Fund and the World Bank Group.
Activities of the International Monetary Fund in Georgia were discussed on Friday in a meeting between Georgian prime minister Irakli Garibashvili and James John, the head of the IMF mission in the country.
Georgian authorities and the International Monetary Fund have reached a staff-level agreement on policies for completion of the first review of the stand-by arrangement following "productive discussions" between the sides, which will allow the organisation to allocate $38 million for the country, the IMF announced on Monday.
Georgian finance minister Lasha Khutsishvili on Monday said the country’s partnership with the International Monetary Fund was "particularly important" in light of "current challenges" created by the conflict in Ukraine.
The Executive Board of the International Monetary Fund has completed the first review of the three-year Stand-By Arrangement for Georgia, enabling access to about $40 million for the country, the IMF said on Thursday.