Acting National Bank Governor, IMF discuss resumption of Stand-By Arrangement

Natia Turnava, the Acting Governor of the National Bank of Georgia, on Wednesday met Bo Li, the Deputy Managing Director of the International Monetary Fund, to work on resumption of the suspended IMF-supported Stand-By Arrangement with Georgia. 

The approval of the second review has been delayed due to the IMF’s disapproval of the change in the management structure of the NBG and the institution’s recent decision on amendments to its compliance to sanctions regulations that exempted Georgian nationals from domestic sanctions without judgments by national courts. 

• Georgian central bank amends int’l sanctions compliance to exempt citizens without court judgement

Following the meeting Turnava said the NBG was continuing to work “intensively” with the IMF to resume the “temporarily suspended programme in the shortest possible time”. 

The meeting was held as part of the annual meetings of the IMF and World Bank taking place in Marrakesh, Morocco between Wednesday and Saturday.