IMF Reaches Staff-Level Agreement on the Third Review for Georgia’s Extended Fund Facility

IMF Reaches Staff-Level Agreement on the Third Review for Georgia’s Extended Fund Facility

IMF Reaches Staff-Level Agreement on the Third Review for Georgia’s Extended Fund Facility

The FINANCIAL -- The IMF team has reached a staff-level agreement with the authorities on completing the third review under the Extended Fund Facility program. The IMF Executive Board is expected to consider the review in December 2018.

Growth has softened recently but is expected to accelerate over the medium term, supported by structural reforms.

Downside risks to growth have increased. This calls for continued exchange rate flexibility, prudent monetary and fiscal policies to build resilience, and sound financial policies.

An International Monetary Fund (IMF) team led by Ms. Mercedes Vera Martin visited Tbilisi during October 17-29 to discuss the third review under the Extended Fund Facility (EFF). The program aims to support Georgia’s ambitious reform agenda to generate higher and more inclusive growth and to reduce economic and financial vulnerabilities.