Finance Minister, Acting National Bank Governor discuss domestic economic policy with IMF

Georgian Finance Minister Lasha Khutsishvili and Natia Turnava, the Acting Governor of the country’s National Bank on Thursday discussed factors contributing to Georgia's “high economic growth” and “positive results” of domestic economic policy in a meeting with Paul Hilbers, the Executive Director of the International Monetary Fund.

The National Bank said the meeting, held as part of annual meetings of the IMF and the World Bank in the United States, also reviewed the development of financial markets in Georgia and stability of its financial sector.

The body added Turnava spoke about measures taken to maintain domestic price stability and noted inflation remained below the target level.

She told the meeting the balance of the foreign sector was sustainable due to the growth of exports, particularly in the IT and service sectors, against the backdrop of a moderate increase in imports.

The central bank official added a “stable situation” in the foreign exchange market was being maintained, allowing for a continued accumulation of reserves.

The discussions also touched on steps taken to reduce dollarisation, including the decision made earlier this month to increase the foreign currency loan limit to ₾400,000 ($149,821) for unhedged borrowers.