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

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
$18.00
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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.

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