Statement by the Staff Representative on Georgia Executive Board Meeting June 27, 2018

Georgia continues to make progress in addressing macroeconomic imbalances, supported by its Extended Fund Facility (EFF) arrangement.

Abstract

Georgia continues to make progress in addressing macroeconomic imbalances, supported by its Extended Fund Facility (EFF) arrangement.

1. This statement provides information that has become available since the issuance of the staff report on June 14, 2018. This information does not change the trust of the staff appraisal.

2. On June 13, 2018, Prime Minister Kiviraskili announced his resignation. Following constitutional procedures, the government was dismissed.

3. On June 20, Parliament approved a new government led by Mamuka Bakhtadze, former Minister of Finance. Prime Minister Bakhtadze has provided assurances that the authorities remain committed to the policies detailed in the Letter of Intent of May 31, 2018 and the associated Memorandum of Economic and Financial Policies and Technical Memorandum of Understanding.