Georgia Debt Management Performance Assessment

Georgia Debt Management Performance Assessment

After a prolonged economic downturn in the early 1990s Georgia has succeeded in improving economic performance. The Government of Georgia undertook large-scale reforms that encouraged increased output growth. Over the period 2003-2012 the Georgian...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
Published: World Bank, Washington, DC 2020
Subjects:
DEBT MANAGEMENT
DEBT SUSTAINABILITY
FISCAL POLICY
MONETARY POLICY
LOAN GUARANTEES
BORROWING
RISK MANAGEMENT
Online Access:http://documents.worldbank.org/curated/en/162981578588020053/Georgia-Debt-management-performance-assessment
http://hdl.handle.net/10986/33188
id okr-10986-33188
recordtype oai_dc
spelling okr-10986-331882021-04-23T14:05:18Z Georgia Debt Management Performance Assessment World Bank DEBT MANAGEMENT DEBT SUSTAINABILITY FISCAL POLICY MONETARY POLICY LOAN GUARANTEES BORROWING RISK MANAGEMENT After a prolonged economic downturn in the early 1990s Georgia has succeeded in improving economic performance. The Government of Georgia undertook large-scale reforms that encouraged increased output growth. Over the period 2003-2012 the Georgian economy grew at an average annual rate of 6.6 percent. Privatization, new simplified tax codes introduced in 2005 and 2010 which reduced the complexity and number of taxes, the cancellation of import duties on approximately 90 percent of goods, and an 88 percent reduction in the number of licenses for doing business resulted in increasing foreign investment inflows into the country. Large external public borrowing to finance energy imports during the first years of independence resulted in a quick accumulation of external debt stock, which exceeded 80 percent of Gross Domestic Product (GDP) by the end of 1994. As a result of strong performance in 1996-1998 when the country's economy grew at 10 percent annually on average, the external debt declined sharply to below 58 percent of GDP. However, depreciation of the Lari against the US dollar during the Russian crisis diminished these achievements. The declining of the debt-to-GDP ratio resumed in 2000. From June 17-26, 2013, a World Bank tea 2020-01-15T21:09:07Z 2020-01-15T21:09:07Z 2013-08 Report http://documents.worldbank.org/curated/en/162981578588020053/Georgia-Debt-management-performance-assessment http://hdl.handle.net/10986/33188 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Debt Management Performance Assessment Europe and Central Asia Georgia
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic DEBT MANAGEMENT
DEBT SUSTAINABILITY
FISCAL POLICY
MONETARY POLICY
LOAN GUARANTEES
BORROWING
RISK MANAGEMENT
spellingShingle DEBT MANAGEMENT
DEBT SUSTAINABILITY
FISCAL POLICY
MONETARY POLICY
LOAN GUARANTEES
BORROWING
RISK MANAGEMENT
World Bank
Georgia Debt Management Performance Assessment
geographic_facet Europe and Central Asia
Georgia
description After a prolonged economic downturn in the early 1990s Georgia has succeeded in improving economic performance. The Government of Georgia undertook large-scale reforms that encouraged increased output growth. Over the period 2003-2012 the Georgian economy grew at an average annual rate of 6.6 percent. Privatization, new simplified tax codes introduced in 2005 and 2010 which reduced the complexity and number of taxes, the cancellation of import duties on approximately 90 percent of goods, and an 88 percent reduction in the number of licenses for doing business resulted in increasing foreign investment inflows into the country. Large external public borrowing to finance energy imports during the first years of independence resulted in a quick accumulation of external debt stock, which exceeded 80 percent of Gross Domestic Product (GDP) by the end of 1994. As a result of strong performance in 1996-1998 when the country's economy grew at 10 percent annually on average, the external debt declined sharply to below 58 percent of GDP. However, depreciation of the Lari against the US dollar during the Russian crisis diminished these achievements. The declining of the debt-to-GDP ratio resumed in 2000. From June 17-26, 2013, a World Bank tea
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Georgia Debt Management Performance Assessment
title_short Georgia Debt Management Performance Assessment
title_full Georgia Debt Management Performance Assessment
title_fullStr Georgia Debt Management Performance Assessment
title_full_unstemmed Georgia Debt Management Performance Assessment
title_sort georgia debt management performance assessment
publisher World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/162981578588020053/Georgia-Debt-management-performance-assessment
http://hdl.handle.net/10986/33188
_version_ 1764478180771495936

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