Economic Press Monitor

IN THIS ISSUE:

Papuna Lezhava, vice-president of National Bank of Georgia (NBG), indicated that “from the second half of 2020, when along with beginning of the pandemic, expectations of economic actors changed to the negative, this caused sharp depreciation of the exchange rate”.

“While in the last month, when the economy opened, positive expectations arose, and this caused sharp strengthening of lari”, Lezhava pointed and stated: “This year is expected to be better than last one”.

Grant agreement, signed between the US and Georgia, envisages allocation of a grant of $67 million to Georgia, Tabula reports. The article notes that volume of the grant can grow up to $330.5 million.

Georgian Railway placed 7-year Eurobonds totaling to $500 million at 4%, the magazine reports, referring to the London Stock Exchange.

The emission aims refinancing of 10-year Eurobonds, placed in 2012 at 7.5%.

Today, leaders on the Georgian market are leasing companies established by leading local commercial banks – TBC Leasing (TBC Bank) and Georgian Leasing Company (Sakartvelos Banki (Bank of Georgia)), the magazine points.

The article indicates that according to these companies’ financial reports, the pandemic has had a negative impact on their earnings.