Georgia : Selected Issues.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Series:

IMF Staff Country Reports; Country Report ; No. 2011/093

IMF Staff Country Reports

Language:

English

Subjects (All):

Finance--Georgia.

Finance.

Business enterprises--Georgia.

Business enterprises.

Informal sector (Economics)--Georgia.

Informal sector (Economics).

Physical Description:

1 online resource (44 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2011.

Language Note:

English

Summary:

During the twin crises of 2008–09 Georgia’s foreign exchange reserves have been exposed to a number of external and internal drains. Its exports declined by 21 percent from peak to trough. Bank deposits declined by more than 20 percent in late 2008–early 2009, while deposit dollarization increased sharply. FDI declined from 16.4 percent of GDP in 2007 to an estimated 5 percent of GDP in 2010. Georgia was able to limit the impact of these drains on its international reserves.

Contents:

Cover; Contents; Executive Summary; I. Exchange Rate Assessment and Competitiveness; A. Introduction; B. Exchange Rate and the External Position-Stylized Facts; C. Exchange Rate Assessment; Tables; I.1. Macroeconomic Balance Approach: Current Account Regressions; I.2. CA Norm and Exchange Rate Assessments; D. Export Competitiveness; I.3. External Sustainability Approach; E. Role and Prospects of FDI; II. International Reserve Adequacy; A. Traditional Reserve Adequacy Indicators; B. Composite Reserve Adequacy Indicators; II.1. International Reserves Coverage

C. Propensity to Withstand Country-Specific ShocksII.2. Composite Indicators; D. Model-based Approach to Reserve Adequacy; II.3. Impact on Reserves of Country-Specific Shocks; E. Conclusions; II.4. Medium-Term Reserve Adequacy; References; III. Inflation Trends and Monetary Policy Options; A. Inflation Trends in Georgia and Comparison with Peers; III.1. Pass-through from Changes in the World Commodity Prices and the Exchange Rate on Headline Inflation; III.2. Georgia and Peer Countries: Inflation Volatility, 2005-10; B. The Interest Rate Pass-through in Georgia

III.3. Correlation between Changes in the Policy Rate and Changes in Money Market RateReferences; IV. The Challenge of Enhancing Tax Productivity in Georgia; A. Introduction; B. Is there Room to Raise Tax Productivity in Georgia?; Box; IV.1. Tax Productivity Measurement and Components; IV.1. The Scope to Increase Tax Productivity; C. Georgia among Peer Countries: Insights from an International Comparison; IV.2. Tax Rates, Shares, Productivity in Comparator Countries (2009); D. Conclusions and Policy Implications; IV.3. Personal Income Tax; IV.4. Social Security Contributions

IV.5. Corporate Income TaxIV.6. VAT

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on online resource; title from PDF title page (ebrary, viewed September 24, 2014).

ISBN:

9786613868015

9781462395972

146239597X

9781462328369

1462328369

9781283555562

1283555565

9781455249268

1455249262