Russia rebukes IMF loan to Georgia

Russia considers the International Monetary Fund's (IMF) help to Georgia financial assistance to the republic's military ambitions, Foreign Ministry's spokesman Andrei Nesterenko told journalists in Moscow today.

He noted that such decisions made by the IMF were more than just a bit questionable.

Nesterenko pointed out that, according to Georgia's data, the country's expenses on military necessities surged 25 times, from 0.7 percent to 8.5 percent of GDP, or from $28.3m to $900m in money terms.

In reality, the official believes that it is the towns of Tskhinval and South Ossetia's which need IMF's help.

This week, IMF approved an extension of a $750m loan to Georgia.

[Source: RosBusinessConsulting, Moscow, 19Sep08]

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The Question of South Ossetia
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