Georgia: Request for a Stand-By Arrangement and an Arrangement Under the Stand-by Credit Facility: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Georgia.

April 24, 2012

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Format: Chicago

Georgia: Request for a Stand-By Arrangement and an Arrangement Under the Stand-by Credit Facility: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Georgia., (USA: International Monetary Fund, 2012) accessed November 21, 2024

Summary

This staff report considers Georgia’s request for a Stand-By Arrangement and an arrangement under the Standby Credit Facility. Performance in 2011 has been stronger than originally envisaged, with growth of nearly 7 percent, inflation in the low single digits, public debt falling to 34 percent of GDP, and international reserves increasing to US$2.8 billion. Exchange rate flexibility remains a critical instrument of adjustment in response to shocks. At the same time, high financial dollarization may require the central bank to intervene to avoid abrupt, and potentially destabilizing, exchange rate fluctuations.

Subject: Balance of payments, Banking, Current account deficits, External debt, Financial institutions, Foreign exchange, Loans, Public debt

Keywords: Authorities' effort, Concessional fund, CR, Current account, Current account deficit, Current account deficits, Debt, Deficit, Eastern Europe, Europe, Fund debt repayment, Global, Government involvement, ISCR, Loans, Precautionary Stand-By Arrangement, Request, Southern Europe

Publication Details

Pages:

89
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/098
Stock No:

1GEOEA2012002
ISBN:

9781475502817
ISSN:

1934-7685

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