IMF approves $750 mn loan for GeorgiaSeptember 16th, 2008 - 6:27 pm ICT by IANS
Washington, Sep 16 (DPA) The International Monetary Fund (IMF) has approved a $750 million emergency loan for Georgia to help in stabilising the Caucasus republic’s economy following last month’s conflict with Russia.The IMF offered the loan to fill a “financing gap”, to help ease foreign investment concerns as the country tries to recover from the conflict with Russia over the separatist regions of South Ossetia and Abkhazia.
The IMF decision is the latest international assistance for Georgia. Last week, the US pledged $1 billion in humanitarian aid.
Tags: 1 billion, abkhazia, caucasus, conflict, economy, emergency loan, foreign investment, gap, humanitarian aid, international assistance, international monetary fund, international monetary fund imf, investment concerns, mn loan, russia, south ossetia