National Bank of Georgia sold $120 million of its reserves in the last 2 weeks, but the GEL keeps devaluing. At this rate, Georgian Dream will literally bankrupt the whole country just to stay in power.
https://i.redd.it/bmlvzd3cm53d1.jpeg
Posted by Appropriate-Lion-455
10 Comments
Source: [https://bm.ge/news/seb-ma-savaluto-auqtsionze-60-milioni-gamoitana-gaiyida-487-milioni](https://bm.ge/news/seb-ma-savaluto-auqtsionze-60-milioni-gamoitana-gaiyida-487-milioni)
Currency rate: [Wise.com](http://Wise.com)
But the previous increase in the value of the lari was not related to the government, was it? 🙂
Thats Euro, got me scared for a moment
As a tourist, is it better to pay with $, € or GEL? From the viewpoint of both us and the locals.
I wonder if you all realise that amerika is also pretty mich cllse to bacruptcy. And germany aswell. And pretty much all the fucking banks in this world
Reminds me of Turkey back in early 2017. Let’s hope Georgia won’t go down that path
Pretty sure the National Bank is not controlled by the ruling party.
Considering import and export what is the desired rate? The stronger GEL is the better?
Wait for collapsing devaluation in coming weeks.
Decolonization is essential for Georgia’s future. Currently, half of the country is owned by Western interests. Two Western banks in Georgia generate more revenue than twenty banks in post soviet Latvia combined. Western entities control much of Georgia’s natural resources. The national bank should increase taxes on foreign investors and lower loan interest rates for citizens, which are currently astronomically high. While Georgia will encounter economic, political, and social challenges in reducing Western influence, these steps are necessary to prevent the country and its people from being exploited for money laundering purposes.