Georgia: First Review under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; and Staff Report

December 7, 2017

Preview Citation

Format: Chicago

Georgia: First Review under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; and Staff Report, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Summary

This paper discusses Georgia’s First Review Under the Extended Fund Facility (EFF) and Request for Modification of Performance Criteria (PCs). The program is on track with all end-June 2017 performance criteria and structural benchmarks met. Economic activity has strengthened on the back of stronger growth in main trading partners. Fiscal overperformance and efforts to address structural weaknesses have helped boost confidence. The economic recovery is gaining momentum, inflation is projected to decline starting in early 2018, and the external position has strengthened. The IMF staff supports the authorities’ request for completion of the First Review under the EFF and the modification of three quantitative PCs.

Subject: Banking, Credit, External debt, Financial institutions, Loans, Money, Public debt, Taxes, Value-added tax

Keywords: Authorities' effort, Authority, Broad money, CR, Credit, Exchange rate, First Review of Georgia's performance, Floating exchange rate regime, GDP deflator, Global, Growth prospect, Inflation targeting framework, ISCR, Loans, Short-term debt, Value-added tax

Publication Details

Pages:

75
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/361
Stock No:

1GEOEA2017004
ISBN:

9781484331224
ISSN:

1934-7685

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