IMF suspends financial aid as Georgia refuses imposes US sanctions on its citizen

• 26 September, 23:12

The International Monetary Fund (IMF) has suspended its aid programme for Georgia, the National Bank of Georgia confirmed on September 26.

The announcement was made at a press release following the meeting between the National Bank’s acting head Natia Turnava and the EU Envoy to Georgia, Paweł Herczyński. The press release revealed, with reference to Turnava that the IMF aid programme has only been suspended and “should be restored as soon as possible.”

Ambassoad Herczyński also expressed that the programme would be restored soon. He also noted Georgia’s commitment to focusing on the 12 ‘priorities’ outlined by the EU as a precondition for reconsidering Georgia’s membership candidacy later this year. 

The IMF’s decision came five days after the IMF’s mission head for Georgia, James John voiced “concerns” regarding Georgia’s Central Bank’s refusal to apply Russia-related international sanctions to Georgian citizens.