The International Monetary Fund (IMF) has approved a loan for Georgia, amounting to USD 750 million. It is aimed at rebuilding the country’s currency reserves and boosting confidence in its economy following last month’s conflict with Russia. Analysts say the money could offset any difficulty Georgia might have in selling products abroad or in attracting foreign investment. The approval came as NATO chief Jaap de Hoop Scheffer was visiting Tbilisi. He called for Georgia’s “accelerated” integration with NATO and condemned Russia’s conduct in the conflict. (BBC)
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