IMF Supports Reforms Implemented in Georgia

The International Monetary Fund (IMF) has said it supports the reforms implemented by the Government of Georgia. The statement was made at a meeting with the IMF delegation, led by Mercedes Vera-Martin, at the Ministry of Finance of Georgia.

The delegation is paying a visit to Georgia within the fourth review of the current program 'Advanced Financing Mechanism.'

During the meeting on May 11, the leader of the delegation said she hoped that Georgia will be assessed positively during the fourth review.

"We had a very fruitful meeting with the Minister of Finance," Vera-Martin said. "A discussion was held on the implementation of budget execution and investment programs. We also discussed future plans for the implementation of the education reform. Within the framework of the mission, we have meetings with various representatives of the government and the National Bank."

The delegation also met the Prime Minister of Georgia, Mamuka Bakhtadze on May 13. The sides discussed the economic situation of the country, the results of the 2019 budget implementation, discussed current and planned economic reforms in the country, including education reform and human capital development.

Georgia's program will be discussed by the Board of Executive Directors of the International Monetary Fund in June.

Previously, the delegation visited Tbilisi on February 20-26 to discuss recent economic and financial developments and progress with the structural reforms, whereby it predicted 4.6% growth of the Georgian economy this year.

The IMF team commended the Georgian authorities for advancing structural reforms and stressed the need for continued efforts to promote inclusive growth and higher economic resilience to external shocks. 

By Thea Morrison