On June 7, during his visit to Georgia, Mr. Anthony De Lannoy, the Executive Director of the IMF who represents Georgia along with the other 15 countries at the IMF Board of Directors, addressed an audience of ISET researchers, students and management, as well as senior representatives of the National Bank of Georgia, with an overview of the IMF and its cooperation with Georgia.

Mr. De Lannoy spoke of the IMF as an institution, and described its history, structure, functions, instruments and its evolution.

He further explained that the IMF’s activities include surveillance, in which the IMF acts as a global monitor over the economic, financial and exchange rate policies of its members, and a catalyst of the countries’ economic development; it provides to capacity development by providing technical cooperation support and contributes to policy analysis of various beneficiaries; and it extends lending, which is realized in its own currency Special Drawing Rights or SDR, which is the IMF’s own currency with 1 SDR being an equivalent of ca. 1.36$, through a range of financial concessional and non-concessional instruments, such as “precautionary and liquidity credit lines”, “extended fund facilities”, “standby arrangements’, “rapid credit facilities” and others, depending on the needs of the IMF members in covering their payment imbalance and their quota at the Fund (i.e. the members’ voting rights and access to funding relative to the amount of their contribution and their economic standing).

On May 21-23, ISET-PI researcher Davit Keshelava participated in the annual European Newspaper Congress in Vienna, Austria. The congress was entitled “Optimistic Journalism Thinkers and Facebook Criticism”, and focused on the main opportunities and challenges of the 'daily newspaper' medium, but the topics were much broader than the title suggested.

The Newspaper Congress was organized by the Oberauer media publisher in cooperation with tNorbert Kupper, a newspaper designer. During the congress, 38 speakers from both developed and developing European countries (including Georgia) presented 24 different topics in front of an audience of 500 bloggers and media experts from around the world.

On May 22, ISET hosted Francois Painchaud, the IMF Resident Representative in Georgia. Mr. Painchaud presented the 2017 May Regional Economic Outlook for the Caucasus and Central Asia, highlighting the three main areas of the global and regional environment, outlook and policy actions, and policy priorities.

At the beginning of the presentation, Mr. Painchaud overviewed the main trends in the global and regional environment. Firstly, the IMF predicts higher than expected real GDP growth in 2017, mainly at the expense of higher growth projections in the US, China, Russia, and emerging markets.

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