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Georgian government not to take IMF loan

The Georgian government does not intend to take a loan from the International Monetary Fund, Georgian Finance Minister Nodar Khaduri told reporters Feb. 23.

He said that the matter rests in attracting additional funds from other donors.

“An IMF mission is in Georgia,” he said. “The mission representatives will meet with me today. They will also meet with the management of the National Bank and Minister of Economy. The working meetings will be held. The country’s economic processes will be discussed there. We do not intend to take the loan from the International Monetary Fund.”

Last week, Economy Minister Giorgi Kvirikashvili said that the discussions about loans from other donors could be held with the fund.

After this statement, the media reported on Georgia’s plans to ask for a loan from the IMF.

“The matter rested in the possibilities of obtaining additional funds from the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development for infrastructure projects,” Khaduri said.

Kvirikashvili also made comments after the governmental meeting.

“The additional loans were not planned to be obtained from the International Monetary Fund,” he said last week. “The matter rests in loans of other institutions.”