IMF reaffirms continued support for Georgia, says National Bank Governor

Natia Turnava, the Governor of the National Bank of Georgia, on Wednesday said the International Monetary Fund had reaffirmed its strong and continuous support for Georgia.

In her remarks following the meeting with the representative of the IMF, Turnava noted that an International Monetary Fund mission was planning to visit Georgia in the near future as part of the so-called Article IV programme.

“We received a clear message from the International Monetary Fund that they have always supported and will continue to support Georgia”, Turnava said.

She further added that the ongoing spring meetings of the representatives of the IMF and the World Bank held in Washington were a very good opportunity to hear opinions on the processes and challenges in the global economy.

The Governor also emphasised a very good opportunity to introduce Georgia’s economic situation to the representatives of the IMF and the World Bank during these meetings.

“The Georgian economy is prepared to meet all challenges - with stable macroeconomic factors, low inflation and high economic growth. The fiscal policy situation is quite solid and the budget deficit is low. We are increasing international reserves, conducting a fairly cautious and reasonable monetary policy. All these parameters distinguish our country in the region”, she continued.

Over the course of her one-week visit, the NBG Governor and members of her delegation are also scheduled to meet with representatives from the US Federal Reserve System.

Furthermore, meetings will be held with investors from American investment companies J.P. Morgan and Bank of America, where Turnava will deliver a presentation.