TBILISI, October 2 (RIA Novosti) - The IMF executive board has approved the provision of a loan to Georgia under the Poverty Reduction and Growth Facility (PRGF) in an amount equivalent to SDR 14 million ($20.7 mln), Novosti Georgia reported Monday.
Shigemitsu Sugisaki, deputy managing director said, Georgia's economy was continuing to perform well following further improvement in its financial situation and its prudent monetary policy.
He said the Georgian authorities were honoring their obligations, enforcing financial order and boosting tax collection, which enables the government to settle the bulk of the debt accrued in previous years.
