Georgia: Selected Issues

International Monetary Fund

No 2011/093, IMF Staff Country Reports from International Monetary Fund

Abstract: During the twin crises of 2008–09 Georgia’s foreign exchange reserves have been exposed to a number of external and internal drains. Its exports declined by 21 percent from peak to trough. Bank deposits declined by more than 20 percent in late 2008–early 2009, while deposit dollarization increased sharply. FDI declined from 16.4 percent of GDP in 2007 to an estimated 5 percent of GDP in 2010. Georgia was able to limit the impact of these drains on its international reserves.

Keywords: ISCR; CR; Georgia; rate; price; exchange rate; adequacy indicator; deposit dollarization; commodity price; tax productivity; equity portfolio holding; Inflation; International reserves; Commodity prices; Reserve positions; Foreign direct investment; Western Europe; Global; Europe (search for similar items in EconPapers)
Pages: 43
Date: 2011-04-21
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