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Government unlikely to present anti-crisis plan before March 5

By Tea Mariamidze
Thursday, March 5
The government will not present a plan on how to tackle the current economic and the national currency downfall before March 5 as it had been announced.

Finance Minister Nodar Khaduri stressed that the negotiations are still ongoing with the Ministry of Economy and representatives of the International Monetary Fund.

The minister also states that the capacity of Georgia’s foreign loans has increased, as they are in dollars and the budgetary income in GEL.

Several days ago, the opposition United National Movement appealed to the Georgian president to call a special session of parliament to discuss the current economic situation.

However, the president rejected the request, saying that they should wait until March 5 when the government will have a chance to present its plans.

In response, the UNM announced a street rally where they will demand a change in the current government.

The opposition accuses the government of putting forth a poor economic policy, which has put the country’s economic stability at risk.

Meanwhile, the country’s economic team is pointing its finger at the head of the National Bank Giorgi Kadagidze, who, according to them, failed to take the necessary measures when the problem emerged.

Former PM Bidzina Ivanishvili was the first who openly criticized Kadagidze.

The previous chair of Cartu Bank Nodar Javakhishvili, states that the International Monetary Fund representatives will presumably attribute the devaluation of the Lari to international events.

“But it would not be true, as such a situation also took place during Shevardnadze’s time, owing to the mistakes of the National Bank. The Monetary Bank representatives stated then too that it was due to other factors,” Javakhishvili said.

He also directed blame to the government, saying that “we export 20% and import 80%.”

Meanwhile, the former head of the National Bank Roman Gotsiridze states that Kadagidze acted correctly. He said that foreign factors and the current government’s various poor decisions and regulations caused the crisis.