Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-10-Speech-2-470-500"

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"en.20110510.60.2-470-500"2
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". This European Union macro-financial assistance is intended to help cover Georgia’s external finance needs, identified in cooperation with the International Monetary Fund (IMF) in the context of the IMF stand-by arrangement for the sum of USD 1.17 billion, which has been in force since October 2008. Half the proposed aid will be supplied in the form of subsidies and the other half in the form of loans. Additional macro-financial assistance should help assist Georgia to deal with the economic consequences of the conflict with Russia and the world crisis, and also support the government’s economic reform programme. I voted for this report, because I agree with the financial assistance concerned and also with the need – in spite of financial assistance being controversial – to guarantee a model for supervising the implementation of this assistance that enables Parliament and other institutions to find out about how these funds are being spent."@en1

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