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Daily Archives: March 29, 2016

CNN: Georgia Plans for 6% Growth Despite Oil, Currency Crisis

CNN Giorgi Kvirikashvili

CNN had an exclusive interview with Georgian Prime Minister Giorgi Kvirikashvili. Watch the video HERE. According to CNNMoney, Georgia is preparing for a huge boost in economic growth in the coming year, despite suffering from low oil prices and a recent currency crisis. Georgian Prime Minister Giorgi Kvirikashvili took office …

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Bad Loans Account for 538.8 million GEL as of March 1

Bad Loans Account for 538.8 million GEL as of March 1

Volume of bad loans declined in the bank sector to 3.3% ratio in total loan portfolio. Nonperforming loans marked 538.8 million GEL as of March 1, 2016. Bad loans (nonstandard, doubtful, bad) are regulated by 30%, 40% and 1000% reserve requirements. Reserves for possible losses exceeded 1 billion GEL, including …

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CNN: Georgia is Looking to Become a Go-To Trade and Logistics Hub

CNN: This Country Plans for 6% Growth Despite Oil, Currency Crisis

Georgia — a country with less than five million people — is preparing for a huge boost in economic growth in the coming year, despite suffering from low oil prices and a recent currency crisis. Georgian Prime Minister Giorgi Kvirikashvili took office in December, but already has big plans for …

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