Georgia:Seventh Review Under the Extended Fund Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Georgia

Author: International Monetary Fund. Middle East and Central Asia Dept.

Seventh Review Under the Extended Fund Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Georgia

Volume/Issue: Volume 2020 Issue 322

Publication date: December 2020

ISBN: 9781513564845

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , inflation expectation , Executive Board discussion , IMF Deputy managing director , economic reform program , Georgia meet balance of payments , inflation pressure , COVID-19 , Loans , Credit , Europe , Central Asia and the Caucasus , Asia and Pacific

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Summary

Georgia’s performance under the Extended Arrangement has been positive, but the country is now facing a pronounced economic slowdown. Domestic and external demand remain weak, and service sector activity remains sluggish. Staff projects the economy to shrink by 5.1 percent this year followed by a gradual recovery.