国际货币基金组织：2024格鲁吉亚精选问题报告（英文版）

Inflation spiked in Georgia following the pandemic and Russia’s war in Ukraine. And only recently has it been brought under control. Given the challenges in managing inflation in a highly dollarized, small open-economy prone to large external shocks, it is important to look at the drivers of inflation in Georgia, the monetary policy stance including the natural rate, the transmission mechanism including the impact of dollarization, and the appropriate monetary policy path going forward. U