#AceFinanceNews – Mar.01: Georgia and the International Monetary Fund on Wednesday reached an agreement on a three-year programme worth $285 million (230.2 million pounds) designed to underpin economic reform and encourage investors, an IMF official said.
“The IMF team reached a staff level agreement with the Georgian authorities for a three-year agreement, extending fund facilities for an amount of 285 million dollars,” said Mercedes Vera-Martin, the head of the IMF’s mission to Georgia.
The Washington-based lender approved a previous three-year stand-by deal worth about $136 million in 2014, but only 80 percent of those funds were disbursed and the last two reviews were not completed.
(Reporting by Margarita Antidze; Writing by Aleksandar Vasovic; Editing by Andrew Osborn)
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