TBILISI (Pakistan Point News / Sputnik - 20th May, 2019) The International Monetary Fund (IMF) supports the ongoing large-scale reforms in Georgia that have already led to a "remarkable" transformation in the post-Soviet country, IMF Managing Director Christine Lagarde said on Monday.
Lagarde arrived in Tbilisi for a three-day visit on Sunday, during which she is expected to hold meetings with Georgian students, entrepreneurs and government officials.
The IMF chief noted that Georgia was making progress in strengthening connectivity within the country and across the border; performing education reform; and promoting good governance and institutional reform.
"We at the IMF are working in partnership with Georgia on these and many other pressing issues � through our policy advice, financial support, and by providing hands-on training and capacity building. We remain deeply committed to supporting Georgia's transformation," Lagarde said in Tbilisi as quoted by the IMF press release.
According to Lagarde, over the past two decades, extreme poverty levels in Georgia have declined by nearly three-quarters, life expectancy has increased by about 6 percent and real per capita income has almost tripled.
"These are remarkable achievements and a testament to the resilience and creativity of the Georgian people," she stressed.
Lagarde also noted that the Georgian economy still remained vulnerable to "potential shocks, especially from escalating trade tensions and financial market volatility."
Earlier in May, the IMF Executive board approved the disbursement of a $41.6 million loan package to stabilize the Georgia's economy. This will be the fourth such tranche, bringing the IMF's loan total for Georgia to about $210 million.
