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Dollarisation increasing in Georgia

By Messenger Staff
Monday, April 19
The quantity of dollarisation in the country is quite high. More than 70% of the deposits in Georgian banks are in dollars. Analyst Kovzanadze thinks this situation has arisen due to the fall of the GEL in autumn 2008. Before this the GEL rate was quite stable.

In order to counter this increase in dollarisation the State should do its best to increase public confidence in the local currently and Georgian banks. If it fails to do so quite serious developments could follow.