Deputy Minister of Finance Giorgi Kakauridze has clarified that Georgia has not requested a new program from the International Monetary Fund (IMF). Responding to a question from BMG, Kakauridze stated that during the government’s participation in the annual meetings of the IMF and the World Bank in Washington, D.C., the issue of launching a new program was not raised.
According to Kakauridze, neither the Ministry of Finance nor the National Bank of Georgia (NBG) is currently facing any challenges that would necessitate seeking IMF assistance.
“No, we have not requested a new program. The National Bank cooperates with the IMF on macroeconomic and monetary policy, including supervision and technical assistance. We expect this cooperation to continue actively, but there has been no discussion about requesting a new program,” Kakauridze explained.
The Deputy Minister emphasized that Georgia has typically engaged in IMF programs during periods of economic difficulty, such as the 2014 financial crisis and the COVID-19 pandemic, when support was needed to stabilize the budget and balance of payments.
“In the past, we needed IMF programs when there were problematic issues—budget deficits, risks to macroeconomic stability, or the need for financial assistance. Today, we do not face such circumstances,” Kakauridze noted.
“At most, we could consider a non-financial program to support a specific reform agenda. However, in many cases where we need assistance, we already receive technical support from the IMF, which is sufficient for implementing reforms.”
