Finance Minister, IMF discuss Georgia’s progress in finance sector
The IMF representatives expressed their willingness to make “additional efforts” to help improve and simplify processes in priority areas of the country’s Revenue Service. In turn, Khutsishvili thanked Aavi for the institution’s support and emphasised the necessity of continuing the Technical Assistance programme. Photo: Ministry of Finance
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Georgia’s progress in debt management, operating an office for large taxpayers and facilitating risk analysis and tax audit was discussed between the country’s Finance Minister Lasha Khutsishvili and Enrico Aavi, the head of the Technical Assistance project of the International Monetary Fund, the Ministry said on Tuesday.
Within the visit, which involved working meetings between February 8-21, it was noted the progress achieved by Georgian authorities “in all areas” of the IMF support was “visible”.
Participants also identified existing weaknesses and challenges requiring further attention, the state body also said.
The IMF representatives expressed their willingness to make “additional efforts” to help improve and simplify processes in priority areas of the country’s Revenue Service. In turn, Khutsishvili thanked Aavi for the institution’s support and emphasised the necessity of continuing the Technical Assistance programme.
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.
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.
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.
Economic processes in Georgia and creation of a “healthy environment for business and investment” were discussed on Thursday by Finance Minister Lasha Khutsishvili and members of the European Union-Georgia Business Council, a non-profit association working to encourage investment and trade between the state and the bloc.
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.