[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108829-en":3,"doc-seo-108829-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},108829,2336464648746,"Skyler","https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c",8,"Research & Report","Georgia - Financial Sector Assessment - December 2021","Financial Sector Assessment of Georgia prepared in December 2021 consolidates results of virtual missions conducted in January–February 2021 and May–June 2021. The assessment updates the Financial Sector Assessment Program (FSAP) findings from 2014, highlights key vulnerabilities and developmental issues across the financial sector, and sets out policy recommendations. It covers financial stability and risk assessment, macroprudential policy and dollarization, financial oversight including banking supervision and cyber security, financial safety nets, market infrastructure, and measures to broaden access, improve efficiency, and develop capital markets.","Public Disclosure Authorized Public Disclosure Authorized  \nFOR OFFICIAL USE ONLY  \nGEORGIA  \nFINANCIAL SECTOR ASSESSMENT  \nDecember 2021  \nPrepared By  \nFinance, Competitiveness, and Innovation Global Practice and  \nEastern Europe and Central Asia Regional Vice Presidency  \nA joint IMF and World Bank team conducted virtual missions to Georgia during January-February 2021 and May-June 2021, to update the findings of the Financial Sector Assessment Program (FSAP) conducted in 2014.1 This report summarizes the main findings of the mission, identifies key financial sector vulnerabilities and developmental issues, and provides policy recommendations.  \n1 The team comprised Haocong Ren (Mission Chief, World Bank), Mustafa Saiyid (Mission Chief, IMF), Heinz Rudolph (Deputy Mission Chief, World Bank), Ahmed Faragallah, Jose Antonio Gragnani, Sonia Iacovella, Sheirin Iravantchi, Oliver Masetti, Graciela Miralles Murciego, Noelia Carreras Schabauer, Andrius Skarnulis (all World Bank), Keith Ligon (World Bank external expert); Rachid Awad (Deputy Mission Chief, IMF), Julia Faltermeier, Inutu Lukonga, Maksym Markevych, Rangachary Ravikumar, Sergejs Saksonovs, Francisco Vazquez (all IMF), Tim Clark and David Scott (IMF external experts) . The FSAP benefited from research support provided by Stephanie Ng and Hannah Sheldon (both IMF), and administrative support provided by Nino Kurtanidze (World Bank), Vanessa Guerrero, Angelica Mendez, and Kene Ndir (all IMF) . The FSAP team gratefully acknowledges the close cooperation and openness of the authorities and technical counterparts.  \nCONTENTS  \nGLOSSARY............................................................................................................................................ 3  \nEXECUTIVE SUMMARY ....................................................................................................................... 4  \nBACKGROUND..................................................................................................................................... 9  \nA. Macroeconomic Context....................................................................................................................................... 9  \nB. Financial System Overview ................................................................................................................................. 11  \nFINANCIAL STABILITY AND RISK ASSESSMENT ............................................................................ 12  \nA. Policy Actions Underpinning Overall Resilience ........................................................................................ 12  \nB. Risk Assessment ..................................................................................................................................................... 14  \nMACROPRUDENTIAL POLICY AND DOLLARIZATION ................................................................... 15  \nFINANCIAL OVERSIGHT.................................................................................................................... 16  \nA. Banking Supervisory Oversight ........................................................................................................................ 16  \nB. Cyber Security Oversight .................................................................................................................................... 18  \nC. Insurance Oversight .............................................................................................................................................. 18  \nD. Capital Markets Oversight .................................................................................................................................. 19  \nE. AM L/C FT .................................................................................................................................................................... 19  \nFINANCIAL SAFETY NETS .............................................................","cbCaicnGKNFPZkoI","https://ap.wps.com/l/cbCaicnGKNFPZkoI","pdf",1310020,4,1,44,"English","en",105,"# Executive Summary\n# Background\n## Macroeconomic Context\n## Financial System Overview\n# Financial Stability and Risk Assessment\n## Policy Actions Underpinning Overall Resilience\n## Risk Assessment\n# Macroprudential Policy and Dollarization\n# Financial Oversight\n## Banking Supervisory Oversight\n## Cyber Security Oversight\n## Insurance Oversight\n## Capital Markets Oversight\n## AM L/C FT\n# Financial Safety Nets\n# Financial Market Infrastructure\n# Broadening Markets and Improving Access and Efficiency\n## Enhancing Financial Inclusion and Access to Finance\n## Promoting Competition\n## Developing Capital 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efficiency.\"}]",1784474228,111,{"code":4,"msg":31,"data":32},"ok",{"site_id":25,"language":24,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":28},"georgia-financial-sector-assessment-december-2021","",{"@graph":36,"@context":85},[37,53,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":20},"https://docshare.wps.com/document/georgia-financial-sector-assessment-december-2021/108829/",{"url":52,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":24,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":41,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What 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