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Georgia got new credit tranche2011-01-13 13:54
The Board of Directors of International Monetary Fund (IMF) has completed the seventh and eighth reviews of its current program of cooperation with Georgia on Wednesday, which "enables to immediately extend a credit tranche to the amount of $153 mln", - goes the press release distributed by IMF.gt-en-newsitem-inside
As was stated in the document, Georgia will consider the program as a preventing one and is not going to attract any real means in this context.
"Georgia's economic restoration has been enhanced, which fact is confirmed by the economic growth exceeding the estimated one, as well as by the exchange rate stabilization, - said Deputy Managing Director of IMF Murilo Portugal. - This was encouraged by the stable implementation of the economic measures implied by the program".
Georgia and IMF cooperation program will last till 14 July 2011. It is aimed at supporting Tbilisi's macroeconomic policy through the currency reserves replenishment and enforcement of investors' trust. The total amount of the program is about 1 billion dollars.