(Interpressnews.) TBILISI, DFWatch–The Georgian government offers a temporary aid package to people who have their mortgage loans in US dollars, to ease the disastrous consequences of the lari’s continued race to record low depths. The decision was made at a […]
TBILISI, DFWatch–Amid growing discontent with the economic situation in the country, and a national currency which plunges to new depths every day, the government announces a hike in excise the tax rate for fuel, tobacco, imported autos and gambling. “As you know, […]
(Interpressnews.) TBILISI, DFWatch–Georgian lari on Friday hit an all-time low at 2.5026 against the US dollar. The previous record was in January this year, when it was valued at 2.49 laris per USD. Georgia’s National Bank has sold USD 180 million of its reserves since August, but has not […]
(Interpressnews.) TBILISI, DFWatch–The Georgian lari is on course for a new historic low, after setting a record earlier this year at 2.4921 laris per US dollar. Today it is valued at 2.4899. Prime Minister Giorgi Kvirikashvili explained the new drop in the value of the lari is as a result of growing imports. […]
(Interpressnews.) TBILISI, DFWatch–The Georgian national currency on Monday reached a new historic low of 2.4923 lari for one US dollar. The price of dollars in exchange booths and banks was more than 2.53 laris. On January 23, one US dollar was 2.4694. Since the lari was introduced […]
Giorgi Kadagidze, head of Georgia’s National Bank. (Interpressnews.) TBILISI, DFWatch–Georgia’s National Bank intervened to bolster the flagging currency lari on Tuesday, causing its value to rise four tetris against the US dollar. The Bank put USD 40 million up for auction, out of which USD 27 million has been sold so far. The lari currently […]
Irakli Garibashvili. (Interpressnews.) TBILISI, DFWatch–Georgia’s national currency is four cents away from reaching its lowest point ever against the US dollar. When the lari began to drop rapidly in November, 2014, one USD was about 1.75 laris. Today, the Georgian National Bank’s official exchange […]
Prime Minister Irakli Garibashvili. (Interpressnews.) TBILISI, DFWatch–Georgia’s currency lari has reached its lowest level since 1999, but the government is optimistic and blames media and analysts of being incompetent and engaging in speculating. The lari is now at 2.416 against the US dollar, near the all-time low […]
Irakli Garibashvili. (Interpressnews.) TBILISI, DFWatch–Georgia’s prime minister blames business leaders for causing the instability of the national currency lari by keeping their money in US dollars. Irakli Garibashvili explained Wednesday during a visit to Batumi, a city on Black Sea coast, […]
Bidzina Ivanishvili. (Interpressnews.) TBILISI, DFWatch–Former Prime Minister Bidzina Ivanishvili says he once planned to arrest Kadagidze due to ‘personal’ business, but changed his mind by request of representatives of the International Monetary Fund (IMF). The revelation comes after weeks of criticism […]
TBILISI, DFWatch–After a period of depreciation, Georgia’s national currency, lari, has started to stablize. The government has cancelled plans to drastically cut the budget. According to data from the National Bank, one USD is today worth 2.3234 laris. Due to the […]
Economy Minister Giorgi Kvirikashvili. (Interpressnews.) TBILISI, DFWatch–The government in Georgia is preparing to drastically cut the state budget to deal with a 30 percent reduction in value of the national currency. Presenting the plans Monday, members of the ruling coalition said the budget will be cut by 500 […]
Kakhi Kaladze. (Interpressnews) TBILISI, DFWatch–Georgia’s vice prime minister claims the National Bank could have helped stabilize the lari by monitoring large bank transactions in and out of the country. Energy Minister Kakhi Kaladze said this during an appearance on the talk show 2030 […]
If the government can’t acknowledge that their popularity is dropping then we are dealing with an even worse situation, says Tornike Sharashenidze, Professor at GIPA. (Interpressnews.) TBILISI, DFWatch–Georgians are disappointed with the government, lack confidence in the opposition and are worried about the situation in the country – these are the main findings of a recent poll published by the National Democratic Institute (NDI). Judging […]
Suma Chakrabarti. (Interpressnews.) TBILISI, DFWatch–The head of the European Bank for Reconstruction and Development (EBRD) commends the head of the National Bank for conducting an exemplary monetary policy. The Georgian lari has tanked in recent months. The lari has gone down […]
Giorgi Kvirikashvili. (Interpressnews.) TBILISI, DFWatch–The economy minister in Georgia has finally admitted that people’s conditions have worsened in recent weeks and months. But Prime Minister Irakli Garibashvili follows his predecessor and godfather of this government in blaming the devaluation […]
(Interpressnews.) TBILISI, DFWatch–For the second time this year, the National Bank has increased the refinancing rate by half a percentage point. The rate now stands at 5 percent. About 8,000 people will have higher interest rate on their loans because of the change. Economic […]
Giorgi Kvirikashvili. (Interpressnews.) TBILISI, DFWatch–As Georgia’s national currency lari is continues to fall in value, the economy minister assures the public that the fall will not continue and calls on journalists not to speculate. Economy Minister Giorgi Kvirikashvili said Monday that there […]
(Interpressnews.) TBILISI, DFWatch–Businessman and retired politician Bidzina Ivanishvili has again blamed the National Bank for not helping to prevent a drop in the Georgian lari. “I suspect that the National Bank is still acting inadequately,” he told journalists on Thursday. […]
Zurab Tkemaladze. (Interpressnews.) TBILISI, DFWatch–Parliament in Georgia is calling on the group of economy ministers to explain themselves again about the falling currency rate, but the finance minister claims the drop in the lari’s value is only temporary. The value of the Georgian lari started […]
(Interpressnews.) TBILISI, DFWatch–The Georgian parliament again failed to hold an extraordinary session about how to tackle a drastic drop in the value of the national currency, the lari. Again, the reason for cancelling the plenary session was that parliament members from the governing […]
Lado Sadghobelashvili from Free Generation. (Interpressnews.) TBILISI, DFWatch–Six people were detained during clashes at a rally against the government’s economic policy outside the old parliament building in Tbilisi on Thursday. Free Zone, an activists group which supports the National Movement, demonstrated […]
President Margvelashvili. (Interpressnews.) TBILISI, DFWatch–The Georgian president on Tuesday called a special parliamentary session dedicated to the monetary crisis in the country on March 13 at 12:00. The president’s administration published a decree signed by Giorgi Margvelashvili, which specifies […]
(Interpressnews.) TBILISI, DFWatch–The Georgian president on Monday decided to call a special session of parliament to let the government face its critics after the national currency dropped thirty percent. Free Democrats MP Irakli Chikovani announced the decision after a meeting […]
(Interpressnews.) TBILISI, DFWatch–The National Movement party warns of an economic crisis in Georgia and demands measures from the government. The government claims the situation is under control and the ruling coalition sees no need for scheduling the special session. […]
Finance Minister Nodar Khaduri. (Interpressnews.) TBILISI, DFWatch–President Margvelashvili is reconsidering the idea of having a special parliament session to discuss the crisis sparked by an over 30% drop in the value of the national currency, the lari. At the height of panic a few weeks ago, the president […]
Nodar Khaduri. (Interpressnews.) TBILISI, DFWatch–The government in Georgia says it has not yet prepared an action plan for tackling the currency crisis after a drastic drop in the value of the national currency lari over the last few months. An action plan was expected on March 5, after […]
Zurab Japaridze from the National Movement. (Interpressnews.) TBILISI, DFWatch–Georgia’s former ruling party, the National Movement, is preparing to take to the streets this spring in a change of roles since a few years back. The call comes after the government refused to show up in parliament on Saturday to debate […]
(Interpressnews.) TBILISI, DFWatch–The president of Georgia’s National Bank may be impeached after former Prime Minister Bidzina Ivanishvili on Thursday accused him of inaction in the face of a sudden thirty percent drop in the lari. The National Bank is an independent body whose […]
Giorgi Kadagidze. (Interpressnews.) TBILISI, DFWatch–Georgia’s National Bank will not spend its reserves of foreign currencies to stabilize the lari despite a dramatic 30 percent drop earlier in the week. The bank’s president Giorgi Kadagidze explained at a briefing at noon on Friday that […]
Free Georgia, Reformers and Christian Democrats activists demonstrating outside the Finance Ministry building on Thursday. (Interpressnews.) TBILISI, DFWatch–There were several anti-government demonstrations in Tbilisi on Thursday in reaction to the thirty percent drop in the value of the national currency, the lari. Smaller groups that are not represented in parliament made up the brunt […]
(Interpressnews.) TBILISI, DFWatch–As the Georgian government is waiting to hear what ideas experts from the IMF have to deal with the weakened national currency, the lari, the former ruling party will be demanding answers at a special session of parliament on Saturday. […]
Bidzina Ivanishvili. (Interpressnews.) TBILISI, DFWatch–Former Georgian Prime Minister Bidzina Ivanishvili weighs in on the question of who is to blame for the more than 30% depreciation of the national currency in recent days. The businessman blames the National Bank and its head, who he assumes […]
(DF Watch.) TBILISI, DFWatch–The lari, Georgia’s embattled national currency, showed signs of recovery on Thursday after both the National Bank and the government announced that they are taking measures to stop it from further depreciation. In recent days, the national […]
(DF Watch.) TBILISI, DFWatch–The government in Georgia has presented a list of state properties to be sold off to bring in new money, as a means to deal with an unexpected 30% drop in the value of the national currency, the lari. Among the properties to be sold are the […]
