Georgia - Recent Economic Developments and Selected Issues (Electronic book text)

1. The Third Review under the SBA was postponed to allow further discussions on the implications of a deeper-than-expected economic contraction and a revision of government spending plans for 2009. Following the postponement of the review, the authorities indicated that they also wished to discuss augmentation of access and an extension of the arrangement to cover additional financing needs through mid-2011. In order to align program discussions with the 2010 budget now under preparation, the authorities asked that the review and request for augmentation be considered in early August, prior to finalization of budgetary plans for 2010.