IMF praises Georgia’s non-bank overhaul, but says issues remain
“Issues and challenges” could still threaten the sector’s viability, fund staff warn
An overhaul of non-bank supervision by the National Bank of Georgia (NBG) and the country’s government has made “significant progress”, but some issues still remain, according to a report by the International Monetary Fund.
In May 2017, an IMF technical assistance team visited Georgia to help the authorities deal with a sector that was lightly regulated and “virtually unsupervised”. Since then, new legislation and action by the central bank have tightened the regulatory regime and toughened
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