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TBC Capital Publishes Macroeconomic Update – International Reserves Are at Historic Highs, but Compliance Rate Is Also Increasing
Summary by Forbes Georgia
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Georgia’s international reserves reached USD 7.5 billion by the end of July, the highest level on record and 118.7% of the International Monetary Fund’s (IMF) reserve adequacy ratio (ARA). The accumulation of reserves, among other factors, was one of the reasons for S&P’s August 7 revision of Georgia’s sovereign credit rating outlook from stable to positive. The agency believes that further strengthening of external buffers could be a prerequisi…
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