IMF approves USD 280 million stand-by arrangement for Georgia

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15 November 2024, 18:36

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IMF approves USD 280 million stand-by arrangement for Georgia

16-06-2022 14:17

The Executive Board of the International Monetary Fund (IMF) today approved a USD 280 million (100% of quota and SDR 210.4 million) Stand-By Arrangement for Georgia which provides support for the authorities’ economic policies over the next three years.

The Board’s decision makes about USD 40 million (SDR 30 million or 14.3% of Georgia’s quota) immediately available. The Georgian authorities intend to treat the new arrangement as precautionary.

The authorities’ IMF-supported program seeks to further entrench macroeconomic stability, build resilience, and strengthen medium-term growth as the country emerges from the COVID-19 pandemic and contends with spillovers from the war in Ukraine.

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