"IMF is an important partner of our country. Close and effective cooperation with the Fund will continue in the future," Natia Turnava, Acting Governor of the National Bank of Georgia, said at an introductory meeting with Andrew Jewell, new resident representative of the International Monetary Fund for Georgia. The meeting was attended by the management of the NBG.

The meeting focused on the review of the macroeconomic situation in Georgia, the progress of economic program supported by an IMF Stand-By Arrangement (SBA), as well as the issues of IMF technical assistance. The Fund-supported program facilitates the strengthened macroeconomic stability.

The National Bank of Georgia has taken a number of consistent and adequate steps in response to global challenges. Appropriate policy implementation by the NBG helped manage inflation expectations and ensure price stability. Inflation decreased to 0.3% in July, well below the 3% target, while core inflation was 3.1%.