LEADER 06277oam 22015494 450 001 9910788402603321 005 20230828235741.0 010 $a1-4623-7704-1 010 $a1-4527-6830-7 010 $a1-283-51748-5 010 $a1-4519-8697-1 010 $a9786613829931 035 $a(CKB)3360000000443919 035 $a(EBL)3014429 035 $a(SSID)ssj0000940049 035 $a(PQKBManifestationID)11502265 035 $a(PQKBTitleCode)TC0000940049 035 $a(PQKBWorkID)10946750 035 $a(PQKB)10482491 035 $a(OCoLC)694141077 035 $a(MiAaPQ)EBC3014429 035 $a(IMF)WPIEE2006173 035 $a(EXLCZ)993360000000443919 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aAnalyzing Balance Sheet Vulnerabilities in a Dollarized Economy : $eThe Case of Georgia /$fAndreas Billmeier, Johan Mathisen 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (29 p.) 225 1 $aIMF Working Papers 300 $a"July 2006". 311 $a1-4518-6433-7 320 $aIncludes bibliographical references. 327 $a""Contents""; ""I. INTRODUCTION""; ""II. BACKGROUND""; ""III. ANALYTICAL FRAMEWORK, KEY CONCEPTS, AND DATA""; ""IV. FOREIGN CURRENCY MISMATCHES IN GEORGIA ""; ""V. ADDRESSING BALANCE-SHEET VULNERABILITIES IN GEORGIA""; ""VI. CONCLUSIONS AND POLICY IMPLICATIONS""; ""REFERENCES"" 330 3 $aBalance-sheet analysis (BSA) complements traditional flow-oriented macroeconomic analysis by gauging mismatches in aggregate and sectoral balance sheets of an economy. Enabled by recent progress in data availability, this paper applies BSA to Georgia, focusing on currency mismatches. In reviewing developments over the last five years, the paper finds that the still-high level of dollarization continues to create financial vulnerabilities, but that the overall level of currency mismatch has fallen and that liquidity problems are unlikely, in part owing to a strengthening of sectoral buffers, hedges, and insurance against shocks. Policy recommendations include accumulating reserves, strengthening securities markets, enhancing banking supervision, and maintaining a flexible exchange rate. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/173 606 $aDollar, American 606 $aFiscal policy$zGeorgia 606 $aMonetary policy$zGeorgia 606 $aBanks and Banking$2imf 606 $aExports and Imports$2imf 606 $aFinance: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMethodology for Collecting, Estimating, and Organizing Macroeconomic Data$2imf 606 $aData Access$2imf 606 $aMacroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General$2imf 606 $aAccounting$2imf 606 $aMacroeconomic Analyses of Economic Development$2imf 606 $aEconomywide Country Studies: Europe$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aMonetary Policy$2imf 606 $aBanking$2imf 606 $aMonetary economics$2imf 606 $aFinance$2imf 606 $aInternational economics$2imf 606 $aCommercial banks$2imf 606 $aCurrencies$2imf 606 $aCurrency mismatches$2imf 606 $aExternal debt$2imf 606 $aInternational reserves$2imf 606 $aFinancial institutions$2imf 606 $aMoney$2imf 606 $aFinancial sector policy and analysis$2imf 606 $aCentral banks$2imf 606 $aBanks and banking$2imf 606 $aFinancial risk management$2imf 606 $aDebts, External$2imf 606 $aForeign exchange reserves$2imf 607 $aGeorgia$2imf 615 0$aDollar, American. 615 0$aFiscal policy 615 0$aMonetary policy 615 7$aBanks and Banking 615 7$aExports and Imports 615 7$aFinance: General 615 7$aMoney and Monetary Policy 615 7$aMethodology for Collecting, Estimating, and Organizing Macroeconomic Data 615 7$aData Access 615 7$aMacroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General 615 7$aAccounting 615 7$aMacroeconomic Analyses of Economic Development 615 7$aEconomywide Country Studies: Europe 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aInternational Lending and Debt Problems 615 7$aMonetary Policy 615 7$aBanking 615 7$aMonetary economics 615 7$aFinance 615 7$aInternational economics 615 7$aCommercial banks 615 7$aCurrencies 615 7$aCurrency mismatches 615 7$aExternal debt 615 7$aInternational reserves 615 7$aFinancial institutions 615 7$aMoney 615 7$aFinancial sector policy and analysis 615 7$aCentral banks 615 7$aBanks and banking 615 7$aFinancial risk management 615 7$aDebts, External 615 7$aForeign exchange reserves 700 $aBillmeier$b Andreas$01493502 701 $aMathisen$b Johan$01549479 712 02$aInternational Monetary Fund.$bMiddle East and Central Asia Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788402603321 996 $aAnalyzing Balance Sheet Vulnerabilities in a Dollarized Economy$93849997 997 $aUNINA