IMF mission arrives in Georgia for program monitoring
TBILISI. May 13 (Interfax) - A mission from the International Monetary Fund arrived in Georgia on Wednesday for a two-week working visit to monitor a stand-by program approved a year ago.
The mission consists of finance and economics experts led by Mark Griffith, the IMF's local office told Interfax.
The mission will begin is work on May 9. Meetings are scheduled with the Georgian government's economic team and the leadership of the National Bank, as well as representatives of the private sector, the IMF spokesman said.
Over the course of the visit, which will end on May 22, the IMF experts will analyze the macroeconomic situation in the country within the context of the IMF program and the government's plans for coming years in the area of fiscal and monetary policy.
The IMF board of directors on April 11, 2012 approved a new stand-by program for Georgia that will make SDR250 million ($387 million) available to the country in 2012-2013. The SDR125 million Stand-by Arrangement and SDR125 Stand-by Credit are intended primarily for stabilizing macroeconomic indicators.
So far, Georgia has not yet tapped these resources.
Georgia's debt to the IMF stood at $645.6 million as of April 1, 2013, including a state debt of $362.9 million and National Bank debt of $282.7 million.
