Pinpointing the key structural reform priorities to support economic transitions in the countries of the South Caucasus and Central Asia (CCA countries), was one of the main topics discussed on September 18 at the International Monetary Fund’s (IMF) brainstorming session.

We are continuing to actively work on the implementation of excise stamps reform with the Government of Liberia’s institutions, particularly the Ministry of Finance and Development Planning (MFDP) and the Liberia Revenue Authority (LRA), to strive towards a policy environment that is predictable, transparent, fair and conducive thereby enhancing domestic revenue mobilization.

The paper reviews developmental implications of labour migration from Central Asia, analyses policy gaps in development-oriented migration management and offers recommendations to facilitate impactful engagement of local authorities in migration governance. This paper is written by Dr. Giorgi Khishtovani, Director at PMC Research, with contribution from Maya Komakhidze, researcher at PMC Research. 

By the end of the second quarter of 2020, loans and deposits, expressed as a percentage of GDP, increased by 3.6 and 4.9 percentage points, respectively, compared to the beginning of the year; By the end of the second quarter of 2020, bank assets, expressed as a percentage of GDP, increased to 98.4%; By the end of July of 2020, the volume of loans was increased by 19%, compared to July of 2019; The average interest rates on loans in January-July of 2020 denominated in national currencies were 0.9 percentage points higher than in January-July of 2019, while the average interest rates on loans denominated in foreign currencies were 0.8 percentage points less; By the end of July of 2020, the volume of deposits in Georgia was increased by 21%, compared to July of 2019; The average interest rates on deposits in January-July of 2020 denominated in national currencies were 1.2 percentage points higher than in January-July of 2019, while the average interest rates on deposits denominated in foreign currencies were 0.4 percentage points less; In January-July of 2020 trade had the highest share of total loans with 29.5%; In January-July of 2020, share of construction in total loans increased by 3.6 percentage points, while share of financial intermediation decreased by 8.2 percentage points, compared to the corresponding period of 2019; According to the World Bank, Georgia’s ratio of non-performing loans to total loans decreased in 2019, compared to 2018, by 0.8 percentage points and dropped to 1.9%; By the end of July of 2020 the rates of dollarization on loans and deposits were increased by 0.3 and 8 percentage points, compared to the corresponding period of 2019. The rates rose to 56.9% and 61.3%, respectively.