IMF sees signs of Georgia recovery, more to be done-INTERVIEW

An International Monetary Fund (IMF) mission, led by Mr. Edward Gardner, visited Tbilisi January 26-February 10 for discussions on the fifth review of the economic program supported by a Stand-By Arrangement (SBA). The SBA with Georgia was approved on September 15, 2008 (see Press Release No. 08/208) for an amount of SDR 477.1 million (about US$750 million). On August 6, 2009, the size of the financial package provided under the SBA was increased to SDR 747.1 million (about US$1.2 billion) and the SBA was extended to June 14, 2011 (see Press Release No. 09/277).

The IMF mission reached a staff-level agreement to conclude the fifth review under the SBA. The agreement will be subject to approval by IMF management and the Executive Board.

Mr. Edward Gardner delivered a presentation at ISET on 'Policy Options after the 2008 War and the Global Economic and Financial Crisis:The Caseof Georgia'

An International Monetary Fund (IMF) mission, led by Mr. Edward Gardner, visited Tbilisi October 27-November 11 to hold discussions on the fourth review of the economic program supported by a Stand-By Arrangement (SBA). The mission reached staff-level agreement with the Georgian authorities on an economic policy program for 2010.(see Press Release No. 09/277).

Mr. Edward Gardner, IMF Senior Resident Representative in Georgia presented the IMF assessment of the Regional Economic Outlook (REO). Representatives of Government, economic circles and academia attended the event. The presentation was followed by the discussion of the economic developments of Georgia. Please see the attached presentation by Mr. Gardner.

An International Monetary Fund (IMF) mission, led by Mr. Edward Gardner, visited Tbilisi July 7-22 as part of the third review of the country’s Stand-By Arrangement (SBA) and reached staff-level agreement with the Georgian authorities on an SDR 270 million (about US$420 million) increase in the financial package provided under the SBA and the SBA’s extension to June 2011. The SBA was approved on September 15, 2008 (see Press Release No. 08/208).

Mr. Edward Gardner, IMF Senior Resident Representative in Georgia presented the IMF assessment of the Regional Economic Outlook (REO). Representatives of Government, economic circles and academia attended the event. The presentation was followed by the discussion of the economic developments of Georgia. Please see the attached presentation by Mr. Gardner.

On April 8, 2009 Edward Gardner, IMF Senior Resident Representative in Georgia delivered a presentation " IMF Program with Georgia" at meeting of the Prime Minister Gilauri with the members of the International Chamber of Commerce.