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OC Media

Opinion | Georgia’s economy has failed; now it’s time to build factories

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Tato Khundadze is a lecturer in Inter­na­tion­al  Political Economy at the Georgian-American Uni­ver­si­ty and head of the Ana­lyt­i­cal Division at the Georgian Public Broad­cast­er.

Despite the many inter­na­tion­al economic indices sug­gest­ing Georgia is a great success story, most Georgians live in poverty. In a country where emi­gra­tion is rampant and half the pop­u­la­tion ekes out a living in agri­cul­ture, the gov­ern­ment needs to create new strate­gies to form a strong, indus­tri­al economy. [Read more…]

PM promises to write off ₾1.5 billion in debts for 600,000 Georgians

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Mamuka Bakhtadze (/OC Media)

Georgia’s Prime Minister Mamuka Bakhtadze has announced plans to write off ₾1.5 billion ($570 million) in unpaid loans for ‘over 600,000’ people black­list­ed by Georgian banks. [Read more…]

Opinion | Bank reforms touted by Georgia’s Prime Minister–to-be could spell the end of predatory lending

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Mamuka Bakhtadze (/OC Media)

Tato Khundadze is editor at European.ge.

Just two months after announc­ing sweeping reforms of Georgia’s banks, 36-year-old Finance Minister Mamuka Bakhtadze looks set to become the new Prime Minister. While the country’s banks have become among the most prof­itable in the world, they have done so at the expense of ordinary Georgians. If Bakhtadze and his replace­ment at the finance ministry follow through on these reforms, they could be the first step in address­ing some of Georgia’s most pressing economic woes.

[Read more…]

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