Bank chief hired on as Georgia’s next prime minister
By Christina Tashkevich and Keti Zavradashvili
Monday, November 19
As Georgia’s nine-day state of emergency was lifted November 16, the president nominated a successful banker as the country’s new prime minister.
In a cabinet meeting Friday evening, President Mikheil Saakashvili stated that Lado Gurgenidze would be nominated to take over from outgoing Prime Minister Zurab Noghaideli, who said health reasons were forcing him to step down after nearly three years on the job.
Gurgenidze, a well-known banker with both Georgian and British citizenship, was chair of the supervisory board of the Bank of Georgia until he formally resigned on November 18.
Gurgenidze is expected to nominate a new cabinet on November 19. According to the constitution, the cabinet must step down when the prime minister resigns.
However, Tbilisi Mayor Gigi Ugulava said a major reshuffle is not expected, according to the online news source civil.ge.
After announcing the nomination, Saakashvili spoke of the need for “more momentum to our reforms” and said Gurgenidze had been instructed to provide a two-fold increase in pensions, and an increase in social assistance, in addition to creating more jobs.
“We need a man like him, we need new energy,” Saakashvili said.
Gurgenidze reiterated that his cabinet would focus on social programs, and said a major task he faced was reaching a consensus with Georgians who face socioeconomic problems.
He also said Georgian businesses, foreign investors and Diaspora Georgians are “the three most important groups on which our economic strength and progress is based.”
Gurgenidze is well-known amongst voters, at least in part because he starred in a reality television show, “Kandidati,” last year. The television contest is modeled on Donald Trump’s “The Apprentice.”
The day after his nomination, Saakashvili took Gurgenidze to visit a town in eastern Kakheti province, where the two spoke about supporting the export of Georgian wine.
Gurgenidze publicly expressed support for the November 7 government crackdown on protestors, while speaking at a meeting between the president and leading Georgian businessmen on November 10.
He commented that the government’s actions had reassured foreign investors, underlining the fact that his bank’s share prices on the London Stock Exchange stabilized on November 7—after a precipitous drop when political unrest intensified in October—and began to rise soon after.
Economist Emzar Jgerenaia described Gurgenidze as one of the best candidates for the post.
“This was a fantastic choice—Gurgenidze is one of the most talented managers Georgia has ever had,” Jgerenaia said.
Under Gurgenidze, Bank of Georgia grew into the country’s largest bank.
In a cabinet meeting Friday evening, President Mikheil Saakashvili stated that Lado Gurgenidze would be nominated to take over from outgoing Prime Minister Zurab Noghaideli, who said health reasons were forcing him to step down after nearly three years on the job.
Gurgenidze, a well-known banker with both Georgian and British citizenship, was chair of the supervisory board of the Bank of Georgia until he formally resigned on November 18.
Gurgenidze is expected to nominate a new cabinet on November 19. According to the constitution, the cabinet must step down when the prime minister resigns.
However, Tbilisi Mayor Gigi Ugulava said a major reshuffle is not expected, according to the online news source civil.ge.
After announcing the nomination, Saakashvili spoke of the need for “more momentum to our reforms” and said Gurgenidze had been instructed to provide a two-fold increase in pensions, and an increase in social assistance, in addition to creating more jobs.
“We need a man like him, we need new energy,” Saakashvili said.
Gurgenidze reiterated that his cabinet would focus on social programs, and said a major task he faced was reaching a consensus with Georgians who face socioeconomic problems.
He also said Georgian businesses, foreign investors and Diaspora Georgians are “the three most important groups on which our economic strength and progress is based.”
Gurgenidze is well-known amongst voters, at least in part because he starred in a reality television show, “Kandidati,” last year. The television contest is modeled on Donald Trump’s “The Apprentice.”
The day after his nomination, Saakashvili took Gurgenidze to visit a town in eastern Kakheti province, where the two spoke about supporting the export of Georgian wine.
Gurgenidze publicly expressed support for the November 7 government crackdown on protestors, while speaking at a meeting between the president and leading Georgian businessmen on November 10.
He commented that the government’s actions had reassured foreign investors, underlining the fact that his bank’s share prices on the London Stock Exchange stabilized on November 7—after a precipitous drop when political unrest intensified in October—and began to rise soon after.
Economist Emzar Jgerenaia described Gurgenidze as one of the best candidates for the post.
“This was a fantastic choice—Gurgenidze is one of the most talented managers Georgia has ever had,” Jgerenaia said.
Under Gurgenidze, Bank of Georgia grew into the country’s largest bank.