(Tbilisi. December 12. Civil Georgia) – IMF mission met Georgian Finance Minister Zurab Nogaideli and President of National Bank Irakli Managadze today to discuss the parameters for the 2002 state budget. Georgian officials submitted their proposals concerning the budget to the mission. IMF team will make conclusions on December 14.
Georgian government hopes to receive credit from the IMF by the end of this year in the frames of Poverty Reduction and Growth Facility (PRGF) program. IMF representatives state that it will be possible only in the first quarter of 2002.
An IMF team led by Mr. David Owen, Chief of the Southern Division of the Fund’s European II Department is to evaluate implementation of PRGF by the Georgian government.
Georgia’s arrangement under the PRGF was approved on January 12, 2001, for about US$137 million. So far, Georgia has drawn about $34 million.