Khaduri: IMF promised to review forecast of Georgia’s economic growth

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Executive Director of the International Monetary Fund (IMF) is surprised about the IMF's forecast of Georgia's economic growth, Georgian Finance Minister Nodar Khaduri, being on a visit to the US, said on 13 October after a meeting with Menno Snel, the IMF executive director for Georgia.

According to Khaduri, the IMF promised to review its forecast for Georgia, which it downsized to 2.5% in its latest October report.

"During a meeting with the IMF executive director Menno Snel we talked about the situation in the Georgian economy and those forecasts which the IMF published. As it transpired, Menno Snel is surprised himself about such forecasts and promised that this evaluation will be revised," declared Khaduri.

During his visit to the US, the Georgian Finance Minister also met with Olivier Descamps, the EBRD Managing Director for Turkey, Eastern Europe, Caucasus and Central Asia, and the Vice President of the European Investment Bank Wilhelm Molterer.

"As regards my meetings with our key investors: with the EBRD managing director we talked about projects implemented by the bank. They intend to step up their cooperation with Georgia. We expect an interesting surprise from the EBRD in November, which I have no right to disclose yet. At a meeting with the Vice President of the European Investment Bank, we discussed the bank's nearest plans for Georgia. As you are aware the bank is actively involved in the implementation of infrastructure projects. It plans to invest in the private sector. They also intend to get involved in the private-public cooperation, the so-called PP projects. This type of meetings gives me confidence and guarantee that the amount of investments in Georgia will increase in the following year," Nodar Khaduri said.

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