IMF Managing Director Hails Georgia’s Progress

Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), said in a statement issued on June 13 that the Georgian government has “accelerated the transition to an open, market-based economy, most visibly in the reform of the tax code, the privatization drive, and supporting steps to improve the business climate.”

Rodrigo de Rato was visiting Georgia to participate in an IMF/WB Constituency Meeting. This annual meeting of a group of 12 countries, including Georgia, was held in Tbilisi on June 11-12. During his visit the IMF Managing Director has also met with the Georgian President, the Prime Minister, the Finance Minister and the President of the National Bank.

Rodrigo de Rato also said that the Georgian government faces a number of challenges in addressing “priority spending needs using sizeable privatization receipts and external grants, while safeguarding macro stability and longer-term fiscal sustainability.”

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