Economy Minister, IMF mission assess Georgia’s compliance with standby loan terms

Georgian Economy Minister Levan Davitashvili on Friday met International Monetary Fund mission head James John to assess the country’s compliance with the terms of a $40 million standby loan issued by the IMF.

The Ministry said Davitashvili emphasised Georgia’s progress in “improving the main economic indicators and implementing structural reforms”.

He also noted the Georgian Government continued “active work” with partner organisations to maintain macroeconomic stability in the country. 

• IMF completes first review of Stand-By Arrangement, enables $40mln for Georgia

Structural reforms and “large-scale infrastructure projects” - including for the Anaklia deep sea port in Georgia’s coastal town, and the international Black Sea submarine electricity cable for connecting the electrical grid of the South Caucasus to those of European states - were also reviewed at the meeting.

The meeting comes on the backdrop of a visit of an IMF delegation, with the visiting representatives meeting Georgian Finance Minister Lasha Khutsishvili on Thursday.