WASHINGTON, Sept 13: The International Monetary Fund is scheduled to consider a $750 million loan programme for Georgia on Monday.
The approval of the 18-month loan will help soften the blow to investor confidence following Russia’s incursion last month into Georgia.
Georgia depends on foreign capital to keep its economy growing. It has been enjoying an investment boom since Michael Saakashvili’s pro-Western government was elected in 2003 but has faced a liquidity crunch since the war.
The World Bank this week ranked Georgia 15th out of 181 countries in its annual “Doing Business” report that looks at how business-friendly economies are.—Reuters
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