IMF Mission Visits Georgia

A Mission of the International Monetary Fund (IMF) is paying a working visit to Georgia on February 8-15.
 
The delegation, led by John Wakeman-Linn, Head of the IMF’s Middle East and Central Asian Department, has already met with President of the National Bank of Georgia (NBG) Roman Gotsiridze on February 8.
 
According to the NBG’s press office, the Mission’s visit aims at assessing the current economic situation in the country and discussing Georgia’s performance under the Poverty Reduction and Economic Growth Program (PREGP), through which Georgia has already received USD 60 million between 2004-2005.   
 
The IMF’s Executive Board approved a three-year arrangement for Georgia in June, 2004. The total sum of this arrangement will total USD 141 million.  
 
Following talks with the Georgian officials, the IMF mission will develop a memorandum on mutual understanding, which will be further submitted to the IMF Board of Directors. If this memorandum is approved, Georgia will receive further disbursement of funds in frames of the PREGP.