Georgia: Fourth Review Under the Stand-By Arrangement and Request for Modification of Performance Criterion

December 23, 2009

Preview Citation

Format: Chicago

Georgia: Fourth Review Under the Stand-By Arrangement and Request for Modification of Performance Criterion, (USA: International Monetary Fund, 2009) accessed November 24, 2024

Summary

This paper discusses key findings of the Fourth Review Under the Stand-By Arrangement for Georgia. The strategy remains appropriate, and program targets for 2010 are in line with those presented at the Third Review. Fiscal policy will transition from an expansionary stance in 2009 to a path of strong consolidation, with a reduction in the deficit of 2¼ percent of GDP in 2010. Despite sizable adjustment, an external financing gap of roughly US$400 million remains in 2010, mostly because of the slow recovery of private capital inflows.

Subject: Banking, External debt, Financial institutions, Fiscal policy, Fiscal stance, Foreign exchange, Loans, Public debt

Keywords: Bank Republic, CR, Dollar, Fiscal stance, Foreign exchange market condition, Foreign exchange market pressure, Global, Inflation expectation, Interest rate channel, ISCR, Liquidity squeeze, Loans, SDR, U.S. dollar

Publication Details

Pages:

81
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/331
Stock No:

1GEOEA2009004
ISBN:

9781451814712
ISSN:

1934-7685

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