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GSE board chief: global financial shakeups have little impact on Georgia

By M. Alkhazashvili
(Translated by Diana Dundua)
Wednesday, January 30
Recent turbulence on world financial markets—the worst experienced since terrorist attacks on New York in 2001—has had an impact on the Georgian stock exchange, but only on those shares in the global market, chair of the Stock Exchange Observation Board Gogi Loladze announced.

Bank of Georgia’s shares went down on the London Stock Exchange by nine percent, from GEL 44 to GEL 40. But companies with shares only on the Georgian stock exchange did not experience any drops.

Given that the Georgian stock exchange has escaped the financial turmoil unscathed, Loladze says, the country’s investment climate may be improving.

“In this situation, investors are looking for markets that have not been affected by problems,” he said according to the newspaper Ekonomikuri Plitra.