IMF: Georgia’s economic performance remains strong, but downside risks to the outlook have increased

IMF: Georgia’s economic performance remains strong, but downside risks to the outlook have increased

IMF Executive Board Completes the Third Review of the Extended Arrangement under the Extended Fund Facility for Georgia. The authorities’ reform program supported by the Extended Fund Facility arrangement remains on track, reflecting prudent macro-financial policies and sound reform implementation, IMF said on Dec 19, The Financial reports.

"Georgia’s economic performance remains strong, but downside risks to the outlook have increased. Persevering with structural reforms is key to achieving higher and more inclusive growth", said IMF.

On December 19, the Executive Board of the International Monetary Fund (IMF) completed the Third Review of Georgia’s performance under the three-year extended arrangement under the Extended Fund Facility (EFF) on a lapse of time basis.

The completion of the review will release SDR 30 million (about $41.6 million), bringing total disbursements under the arrangement to SDR 120 million (about $166.3 million).The extended arrangement for SDR 210.4 million (about $291.5 million or 100 percent of quota) was approved by the Executive Board on April 12, 2017. Program implementation through end-June 2018 was satisfactory.

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