IMF completes third review in Georgia

IMF completes third review in Georgia

The International Monetary Fund has completed the third review on the Extended Fund Facility approved last year under which Georgia is receiving $285.3 million over a period of 3 years. 

Georgia's Prime Minister Mamuka Bakhtadze and Mercedes Vera-Martin of the IMF met yesterday to discuss details of the third review. At the meeting they talked about economic trends in Georgia and in the region and the main parameters of the 2019 state budget.

Vera-Martin said that in the mid-term period it is expected to accelerate economic growth in Georgia. She said that the IMF considers the reform implementation process to be developing successfully in Georgia and the majority of criteria of the third review had already been completed.

Vera-Martin once again confirmed the IMF’s support to Georgia’s "ambitious" reform plan.

"Once the review is completed about $41.6 million will become accessible for Georgia. According to our review the economic situation in the country is stable and the government has taken responsibility for inclusive and long-term economic growth," Agenda.ge cited Vera-Martin as saying.

The IMF mission completed its visit to Georgia which started on October 17.

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