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Georgia: Financial Sector Assessment Program-Technical Note-Macroprudential Policies and De-Dollarization
Author:
International Monetary Fund. Monetary and Capital Markets Department
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2021: Issue 220
Language:
English
Publication Date:
30 Sep 2021
DOI:
https://doi.org/10.5089/9781557753533.002
ISBN:
9781557753533
ISSN:
1934-7685
Pages:
40
Keywords:
DE-dollarization policy; loan dollarization; D. assessment; E. Policy recommendation; deposit dollarization; Dollarization; Currencies; Macroprudential policy; Macroprudential policy instruments; Global; Central Asia and the Caucasus; Eastern Europe
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Since the 2015 FSAP, the NBG has significantly strengthened its institutional framework for macroprudential policy and put in place a comprehensive toolkit. Among other reforms, to strengthen the transparency of and accountability for macroprudential policy, the NBG published its Macroprudential Policy Strategy in 2019, which sets out five intermediate objectives: (i) mitigating and preventing excessive credit growth and leverage; (ii) mitigating and preventing excessive maturity mismatch and market illiquidity; (iii) limiting direct and indirect exposure concentrations; (iv) limiting the systemic impact of misaligned incentives with a view to reducing moral hazard; and (v) reducing dollarization of the financial system.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2021: Issue 220