IMF allocates Georgia a loan "for emergencies"

2011-11-02 17:19:47

Specialists of the International Monetary Fund decided to allocate Georgia a new credit line. According to "Business-Georgia", this information was released yesterday at a briefing to reporters by the head of Georgian Offices of IMF Edward Gardner, on the results of a two-week mission's visit to Sakartvelo. According to Gardner, within two weeks, they have held talks with the Georgian government in connection with credit line.

The credit line will run in 2012-2013. In this case, the main emphasis will be placed on caution, said the representative of the IMF. He explained that Georgia gets the right to use the loan only in case of emergency.

"The country's developing economic program, which implies various sources which should allocate financial resources. It also implies international financial programs, donors, and so on. If these sources don't prove themself, it would be possible to use the resource allocated by the IMF", said Gardner.

He added that the exact amount of the loan is not specified yet.