Georgia fulfills the obligations assumed before  International Monetary Fund  –  representatives of international financial organizations estimated the macroeconomic parameters of Georgia in that way.   The President of the National Bank of Georgia, Mr. Roman Gotsiridze and the Finance Minister, Mr. Aleksi Aleksishvili attended the meetings in International Monetary Fund in Washington. “At the end of 2005, all macroeconomic indicators of Georgia agreed with  International Monetary Fund will be within the framework of the program”, said  Mr. Roman Gotsiridze. According to him, amendments to the Banking Legislation are ready and will be presented to the parliament. Furthermore, in October the National Bank intends to present the strategy of banking system development in Georgia.    Mr. Roman Gotsiridze said to the representatives of International Monetary Fund that the National Bank of Georgia is carrying out a reform in supervising banking and non-banking institutions. “The image of Georgian banking sector participants is not less important for us”, said the President of the National Bank of Georgia. The Finance Minister, Mr.Aleksi Aleksishvili spoke about the state budget implementation indicators. He also noted that a new draft Tax Code is ready for consideration in the Parliament.   The representatives of International Monetary Fund said that Georgia implemented the program agreed with IMF. According to their estimations, macroeconomic condition of Georgia is promising. The mission of International Monetary Fund (who will have to make a decision on allocation of tranche for Georgia by the IMF Board of Directors) will arrive in Tbilisi in this October.   The President of the National Bank of Georgia, Mr. Roman Gotsiridze and the Finance Minister, Mr. Aleksi Aleksishvili participated in annual meeting of IMF and  the World Bank in Washington.   Simultaneously with the forum, the members of Georgian delegation convened bilateral meetings in these two international financial organizations. Meetings were convened with the Vice-President of European and Central Asia Region of the World Bank  Shigeo Katsu, IMF Executive Director Jeroen  J.M.Kremers, Deputy Director of the Middle East and Middle Asia Department of IMF Julian Berengaut, the Director of the Middle East and Central Asia Countries Department of IMF  Mohsin  S. Khan, the Vice-Premier and the Finance Minister of the Netherlands Government Gerrit Zalm, the Regional Director of South Caucasian countries of World bank  Donna Dowsett-Coirolo.   Annual meetings of the Boards of  Governors of International Monetary Fund and the World Bank have started in 1946. Such meetings are convened in Washington (headquarters) two years running, and the third year in any other country. For instance, the next meeting of the Boards of Governors of International Monetary Fund and the World Bank will be convened in Singapore.   Executive officers and finance ministers of leading international financial institutions and Central Banks of member states of International Monetary Fund take part in these forums.   The program of International Monetary Fund “Poverty Reduction and Economic Growth” with about  USD 141,6 million  was approved on June 4 last year. The National Bank of Georgia received the first tranche within the framework of three-year state program (with about USD 20 million) on the 21st of June, 2004. The second tranche was transferred to the account of the National Bank of Georgia on the 11th of January 2005. The credit period under the “Poverty Reduction and Economic Growth” provides for 0,5% payment during 10 years and 5,5 annual grace period.   Credits of International Monetary Fund are used for replenishing the international foreign currency reserves of the National Bank of Georgia, which as of September 26, 2005, totaled USD 437,1 million that exceeds the indicators of the similar period of 2004  by USD 73,8 million.