International Monetary Fund technical assistance report outlines next steps for Georgia state owned enterprise reform

The International Monetary Fund has published a technical assistance report reviewing Georgia’s state-owned enterprise reform agenda and identifying the main areas where further action is needed. The report finds that Georgia has made substantial progress over the past decade in financial oversight, transparency, and fiscal risk management for state-owned enterprises, but says additional reforms are needed to strengthen ownership, governance, and accountability. According to the report, reforms led by the Ministry of Finance and the Ministry of Economy and Sustainable Development have already delivered stronger fiscal risk disclosure, the introduction of Statements of Corporate Intent, and adoption of a strategy for comprehensive state-owned enterprise reform aimed at aligning state ownership and corporate governance with international good practices. Remaining priorities are to expand and apply financial oversight more consistently, formalize public service obligations, professionalize state-owned enterprise boards, and complete the legislative framework supporting the reform program. The report links these steps to lower fiscal risks, reduced political interference, and better enterprise performance.