Georgia: Financial System Stability Assessment

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2001 Issue 210

Publication date: November 2001

ISBN: 9781451814477

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Topics covered in this book

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Banks and Banking , Finance , ISCR , CR , banking system , central bank , foreign currency , monetary policy , U , S , dollar , exchange rate , country risk , Commercial banks , Basel Core Principles , Payment systems , Loans , Bank supervision , Europe

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Summary

The Georgian financial system is small by international standards and by comparison with countries in the region. The vulnerabilities and policy challenges in the Georgian financial system are closely linked to the transitional stage of the economy. The legal framework governing the financial sector needs improvement. The assessment of compliance with the Basel Core Principles (BCP) for Effective Banking Supervision (EBS) found that while substantial advances in bank supervision have occurred during the past two to three years, there are several areas in need of improvement.