August 11, 2008
HP-1112

Statement by Deputy Secretary Robert M. Kimmitt
on Support for Georgia’s Economy

Washington– Deputy Secretary of the Treasury Robert M. Kimmitt today issued a statement welcoming the statements of support for Georgia's economy by the International Monetary Fund (IMF), World Bank, and the European Bank for Reconstruction and Development (EBRD), as well as their signals of continued engagement with the Government and their clients and banks in the private sector:

"The U.S. Treasury Department welcomes the statements of support for Georgia's economy made earlier today by the IMF, World Bank, and EBRD." 

"Given its sound macroeconomic and fiscal policies and excellent progress in transition to a market economy, Georgia is well placed to weather the current crisis. Georgia's economy has been one of the strongest in the region owing to its proven record of reforms, and this reform effort deserves continued international support. The United States has strongly supported Georgia's reform and economic development programs and is prepared to join other countries to support the International Financial Institutions' future engagement to promote a vibrant economy that builds on the existing foundations," said Kimmitt.

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