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International Monetary Fund

IMF expects Georgia GDP growth to rebound to 4.3 % in 2021

8 mins read

The FINANCIAL — An International Monetary Fund (IMF) staff team led by Mercedes Vera Martin conducted virtual discussions from October 5 to November 9, 2020, on the Seventh Review under the Extended Fund Facility (EFF) arrangement. At the conclusion of the mission, Ms. Vera-Martin issued the following statement: “Following productive discussions, the Georgian authorities and the IMF team reached a staff-level agreement on the conclusion of the Seventh Review of the EFF arrangement. Performance under the IMF-supported program was satisfactory in the first half of 2020. The agreement is subject to approval by the IMF management and the Executive Board.…

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IMF expects Georgia GDP growth to rebound to 4.3 % in 2021

8 mins read

The FINANCIAL — An International Monetary Fund (IMF) staff team led by Mercedes Vera Martin conducted virtual discussions from October 5 to November 9, 2020, on the Seventh Review under the Extended Fund Facility (EFF) arrangement. At the conclusion of the mission, Ms. Vera-Martin issued the following statement: “Following productive discussions, the Georgian authorities and…

IMF/World Bank Annual Meetings in Morocco postponed until 2022

1 min read

The FINANCIAL — The Kingdom of Morocco, the World Bank Group and the International Monetary Fund (IMF) announced today that the planned World Bank Group-IMF Annual Meetings scheduled to take place in Marrakesh, Morocco, in October 2021 will be postponed by 12 months until 2022 due to the COVID-19 pandemic. The Annual Meetings are usually held…

IMF Staff and Jordan reach staff-level agreement on the first review under the Extended Fund Facility

5 mins read

The FINANCIAL — An International Monetary Fund (IMF) team led by S. Ali Abbas, concluded virtual discussions with the Jordanian authorities and reached a staff-level agreement on the first review of the authorities’ economic reform program supported by the Extended Fund Facility (EFF) arrangement. This agreement is subject to approval of the IMF’s Executive Board. Completion…

EBRD approved €30 mln credit to boost financial stability in Bosnia and Herzegovina

2 mins read

The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) is providing a €30 million standby credit line to the Deposit Insurance Agency of Bosnia and Herzegovina (DIA) to ensure that citizens and businesses are protected against potential vulnerabilities in the financial sector during the coronavirus pandemic. The new facility will safeguard the financial sector and strengthen the…

Cross-border payments are about to improve

7 mins read

The FINANCIAL — When paying for coffee, we swipe, tap, wave, and soon may wink—a quick and painless exchange of coffee for money. But when paying for imports or sending remittances, we often fill-out forms, wait for days, and pay—too much. Progress to improve cross-border payments has been slow, but is just about to take off.…

International Monetary Fund staff statement on Argentina

2 mins read

The FINANCIAL — An IMF team, led by Julie Kozack Deputy Director of the Western Hemisphere Department and Luis Cubeddu Mission chief for Argentina, visited Buenos Aires from October 6 to 11, 2020 to learn and assess more about the Argentine authorities’ economic plans and policies. At the conclusion of the staff visit, Ms. Kozack…