The Representatives of the IMF Mission will Conduct a Workshop in the National Bank of Georgia
21 October, 2005
The representatives of the International Monetary Fund (IMF) will conduct a workshop on “The Evaluation of Economic Policy and the Experience of the Countries in Transition” in the National Bank of Georgia on October 22. The representatives of the parliament, government and the National Bank of Georgia as well as of the international organizations accredited to Georgia will take part in the workshop.
It is a second year since Georgia has been successfully implementing the IMF program. The National Bank of Georgia has met all criteria envisaged by the program,” – said Mr. David Amaghlobeli, the Vice-President of the National Bank.
A regular visit of the IMF mission to Georgia that started on October 19 will last till November 1. The aim of the visit of the mission is to review the progress of the PRGF program.
The IMF PRGF program was approved in the amount of about USD 141,6 million on June 4 of the last year. The National Bank of Georgia received the first tranche in the amount of about USD 20 million on June 21, 2004 under the three - year program. The second tranche was transferred to the account of the National Bank of Georgia on January 11, 2005 and the third - on August 5.
PRGF loans carry an interest rate of 0.5 percent a year, and repayable over 10 years with a 5,5-years grace period on principal payments.