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Georgian Experts Predict the Outflow of Dollars from Georgia to Azerbaijan

Georgian Experts Predict the Outflow of Dollars from Georgia to Azerbaijan

Will the currency crisis in Azerbaijan create additional pressure on the Georgian national currency’s rate?

The experts interviewed by CBW predict the outflow of dollars from Georgia to  Azerbaijan. The expert Emzar Jgerenaia assesses the situation as alarming and says  that panic in  Azerbaijan and demand for dollars will definitely affect Georgia. According to him, the Azerbaijani business is trying to exchange manats for  a hard currency in Georgia that  will increase the demand for dollars and will further devalue the Georgian  lari .

Roman Gotsiridze, a former president of the National Bank, calls concerns about the outflow of dollars from Georgia to Azerbaijan absurd. In his words,  the Georgian foreign exchange booths will not exchange Azerbaijani mantas for US dollars.