Giorgi Kakauridze, Deputy Minister of Finance declares, that the International Monetary Fund program has been suspended since June. As he said during the meeting with the parliamentary political group - Reform Group, the suspension of the IMF program is related to the issues of the National Bank, but not to the order issued on September 19.
According to the First Deputy Minister of Finance, the International Monetary Fund will resume the program before the end of this year, however, if the IMF decides to terminate the program, it will create some problems with other financial institutions of Georgia.
"The suspension of the program is related to the issues of the National Bank, but not specifically to the order, and I cannot give you an answer as to exactly why it was suspended. We should receive a specific answer from the IMF. I may know a lot of things, but I can't answer for the IMF,” said Kakauridze.
As for the expectations from other financial institutions, according to him, he does not think that we will have any kind of delay with any financial institution in getting the funds.
“But if, in the end, the IMF not only suspends, but terminates the program and declares that the macroeconomic stability of Georgia is in danger, in this case it may create a certain threat to attracting credits from other financial institutions. If we don't have a program, we will have to prove to all financial institutions one by one that we have macroeconomic stability. The IMF is a proof of this. When we have a IMF program, it means that the macroeconomic stability of this country is good", said Giorgi Kakauridze.
