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Georgia: Sixth Review Under the Stand-By Arrangement and Requests for Modification of Performance Criteria, Waiver of Nonobservance of Performance Criterion, Waiver of Applicability of Performance Criterion, and Rephasing of Purchase: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Georgia

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  • International Monetary Fund

Abstract

The economic recovery has gained strength in Georgia. The corrective policy actions provide adequate assurances that the program objectives are on track. The success in mobilizing additional budgetary support and diversifying their financing sources is commended. Postponing implementation of a referendum requirement on tax increases, until the fiscal deficit has been returned to prudent levels, enhances policy flexibility. The recent tightening of monetary policy is warranted and should continue. The exit strategy has been reinforced by improvements in confidence accompanying the rebound in activity.

Suggested Citation

  • International Monetary Fund, 2010. "Georgia: Sixth Review Under the Stand-By Arrangement and Requests for Modification of Performance Criteria, Waiver of Nonobservance of Performance Criterion, Waiver of Applicability of Performance Cri," IMF Staff Country Reports 2010/219, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2010/219
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24056
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    Cited by:

    1. Maka Chitanava & Maya Grigolia & Lasha Labadze, 2011. "Public Expenditures on Education and Health in Georgia before and during the Global Crisis," CASE Network Reports 0101, CASE-Center for Social and Economic Research.

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