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Georgia: Request for a Stand-By Arrangement and an Arrangement Under the Stand-by Credit Facility: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Georgia

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  • International Monetary Fund

Abstract

This staff report considers Georgia’s request for a Stand-By Arrangement and an arrangement under the Standby Credit Facility. Performance in 2011 has been stronger than originally envisaged, with growth of nearly 7 percent, inflation in the low single digits, public debt falling to 34 percent of GDP, and international reserves increasing to US$2.8 billion. Exchange rate flexibility remains a critical instrument of adjustment in response to shocks. At the same time, high financial dollarization may require the central bank to intervene to avoid abrupt, and potentially destabilizing, exchange rate fluctuations.

Suggested Citation

  • International Monetary Fund, 2012. "Georgia: Request for a Stand-By Arrangement and an Arrangement Under the Stand-by Credit Facility: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the," IMF Staff Country Reports 2012/098, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2012/098
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    Cited by:

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    3. Evangelos F. Magirou, 2013. "A note on the policy implications of the fiscal multiplier," Papers 1310.3083, arXiv.org.
    4. Gikas A. Hardouvelis & Ioannis Gkionis, 2016. "A Decade Long Economic Crisis: Cyprus versus Greece," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 10(2), pages 3-40, December.
    5. Daphne Nicolitsas, 2016. "Price Setting Practices In Greece: Evidence From A Small-Scale Firm-Level Survey," Bulletin of Economic Research, Wiley Blackwell, vol. 68(4), pages 367-382, October.
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    9. Myrto Tourtouri & Dimitris Pavlopoulos & Christos Papatheodorou, 2020. "Assessing the impact of liberalisation policies on the Greek labour market: an insider–experts' view from the perspective of the varieties of liberalisation," Industrial Relations Journal, Wiley Blackwell, vol. 51(6), pages 517-535, November.
    10. World Bank, 2013. "Burundi Public Expenditure Review : Strengthening Fiscal Resilience to Promote Government Effectiveness [République du Burundi - Burundi Revue des Dépenses Publiques - Renforcer l’efficacité des po," World Bank Publications - Reports 21283, The World Bank Group.
    11. Sorin Gabriel Anton & Cristina Puiu, 2014. "The Imf Approach Towards The Structural Deficit," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 0(Special i), pages 44-49, September.
    12. De Rosa, Donato & Iootty, Mariana & Pirlea, Florina & Aprahamian, Arabela & Stanescu, Alexandru, 2013. "Product market policies in Romania : a comparison with EU partners," Policy Research Working Paper Series 6698, The World Bank.
    13. Russell, Helen & McGinnity, Fran & Kingston, Gillian, 2014. "Gender and the Quality of Work: From Boom to Recession," Research Series, Economic and Social Research Institute (ESRI), number BKMNEXT264, June.

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