Foreign Agents Law Fuels Economic Uncertainty in Georgia: Dip in Stock Exchange Shares and Lari Depreciation Spark Concerns over Sanctions and Frozen Aid”.
The controversial law on “foreign agents” has caused a decrease in the shares of Georgian companies listed on the London Stock Exchange. At 15:30 Tbilisi time today, Bank of Georgia group has decreased by more than 16%, TBC Bank Group by 15%, and Georgia Capital by about 8%. The capitalization of Bank of Georgia has decreased by 1.5 billion GEL in the past two weeks, causing concerns about the potential impact of sanctions or frozen aid from the US and Europe.
In addition to the decline in share prices, the national currency of Georgia, the lari, also faced challenges yesterday. It depreciated by approximately 5 points against both the dollar and euro during buying and selling activities.
These economic developments have prompted discussions and analyses on various platforms and blogs related to financial jobs, anti-money laundering specialists, local pharmaceutical development, and gaming. Experts in different industries are exploring and discussing potential strategies for navigating these challenges and their impact on the economy.
