Shevardnadze Hopeful Over Cooperation with IMF
(Tbilisi, June 23, 2003, Civil Georgia) – President Shevardnadze said in his Monday radiobroadcast on June 23 that Georgia fulfilled ?most of the fund?s [IMF] recommendations.?
The IMF mission, led by Paulo Neuhaus, Assistant Director in the European II Department, will start talks with the Georgian authorities on June 24 over the implementation of the fund?s recommendations.
On June 10 at the meeting with the economic team of the government President warned, ?If the IMF delegation will not see each of their recommendations met, they will suspend cooperation with Georgia. And this will cost dearly not only the country but the government too.?
During its previous visit to Georgia in February-March IMF recommended Georgia to reduce the expenditures of the budget by 113 million Lari ($53 million) to avoid deficit; to improve the energy system administration and increase the electricity tax; conduct an independent audit of the Poti Port, Georgian Railways and Madnuili (mining) companies; to settle the tax transfer issues with Autonomous Republic of Adjara; to adopt the laws preventing the money laundering law. Only this latter condition was fulfilled so far, as the Parliament passed the bill on June 6.
?Georgia managed to meet the IMF recommendations and situation is not as alarming at many claim,? Shevardnadze said today.
