The International Monetary Fund has given Georgia’s sixth loan review the thumbs-up and will be disbursing the last installment of $21.3 million to the country. This development is in line with Georgia’s $144 million IMF-supported program, which the fund approved in 2004 under its Poverty Reduction and Growth Facility for developing nations. “Georgia’s economic performance has been impressive in recent years, with rapid growth maintained over the last year despite the loss of major export markets,” said IMF deputy managing director Takatoshi Kato. He added that the Georgian government was planning to execute a more prudent fiscal position this year as a response to the influx of capital to the country and a broadening current account.
Source: IMF approves final loan disbursement to Georgia (Reuters)
