The Occupied Abkhazia Talks About The Seizure of the Vardnil Hydropower Plant 2

Kobakhidze emphasized that when a politician does not speak the truth, it has no effect on Georgian society."We often see that when such intensive statements are made by certain politicians or officials, there are usually signs of specific financial interests. I don’t know what the situation is in this case, but in any event, I wouldn’t pay much attention to it. The important thing is that the public has learned everything. First and foremost, the public has learned that no single politician should be followed blindly in their statements. You remember that the European Parliament passed 5 resolutions, but they couldn’t influence the public, because what matters to the public is what the truth is. When they see that a specific politician is not speaking the truth, these statements are no longer relevant to the public. Therefore, I would advise everyone to refrain from such fruitless campaigns. These cannot cause any special turmoil in Georgian society, and they won’t have an effect on the public. The only thing that influences Georgian society is the truth, and we have done a lot for that."The goal is this: "They activated the Republican politician because someone wants to create the perception of continued problems under Trump’s terms. We expect something different from the new administration. Our hand is extended. We offer the new administration a fresh start in strategic partnership, a qualitative renewal, and a rehabilitation of the relationship, which is not in a healthy state today. We hope that there will be reciprocal pragmatic steps from the new president’s administration. This is in the interest of both countries – Georgia and the United States,” Kobakhidze said.For reference, American Congressman and Helsinki Commission Chairman Joe Wilson stated that President Donald Trump made it very clear what his position is regarding America's self-declared enemies."If Bidzina Ivanishvili takes Georgia’s democracy to the point of destruction on December 29, he should expect a response he could never imagine," Wilson wrote.

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At IOSCO’s invitation, David Abesadze also joined a workshop on market development initiatives, where he shared Georgia’s recent successes in developing the corporate bond market with representatives of GEMC member organizations.In his presentation, David Abesadze highlighted the "Capital Market Support Program," implemented during 2022-2023. This program, co-initiated by the National Bank of Georgia and executed by the European Bank for Reconstruction and Development (EBRD) with funding from the European Union, included both educational and financial components. Notably, within the financial component, issuers were supported by funding for transaction costs associated with the public issuance of securities. David Abesadze emphasized the importance of raising issuers’ awareness of capital market instruments and underlined how financial incentive mechanisms significantly contributed to the program’s success.The event also featured the inaugural meeting of the GEMC Sustainability Reporting Standards Implementation Network. This new network, which the National Bank of Georgia has joined, aims to assist member organizations in adopting the reporting framework developed by the International Sustainability Standards Board (ISSB).Since becoming a full IOSCO member in 2021, the National Bank of Georgia has actively participated in the organization’s activities. The NBG is represented on both the European Regional Committee and the Emerging and Developing Markets Committee. Additionally, as of November 2024, the NBG has been a member of GEMC, the largest IOSCO committee, which includes 91 jurisdictions, 10 of which are G20 members.

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According to the statistics of the National Bank of Georgia, in November the net profit of banks increased by 260 million GEL (10/24 +279 million m-o-m; 09/24 +275 million m.m).The total profit for 11 months (of profitable banks) is up to 2.870 billion GEL. Among the 13 profitable banks is the sanctioned subsidiary of VTB.Silk Bank and digital banks that have not yet started full-fledged operational activities are at a loss (Hash, Paysera, Pave).The TOP-7 has changed: Cartu Bank with Georgian capital moves to 6th position, and the banking group of German capital - ProCredit Bank - to 7th.TOP-11 (+2) Of Profitable Banks 

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“I have such an offer to the “government”.While “Trump is fighting the Deep State”, let’s stop paying your salaries and bonuses and reimburse your expenses.A group of unrecognized, sanctioned and unconstitutional people who are playing the government, with orders, inaugurations and meaningless comments, it seems that you have no other function than to annoy and provoke citizens.The economy is entering a crisis, development projects are suspended and people will start starving in a few months!In this situation, instead of offering us ways to overcome the crisis, first give us until January 20, then say "it will take a little more time" and now "if".Remove all the privileges that you have received from the pockets of already needy citizens with a 40% tax.When you say "we will stand firm", the people of Rustaveli will show you this," - wrote the director of "Expo Georgia", Resan Kikava on the social network.

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A yellow security level will be in effect during the Presidential inauguration ceremony, restricting public access to the Parliament building. Media outlets seeking to cover the event must obtain special accreditation, with a maximum of two crews allowed per outlet.The Parliament will set up a dedicated media space in the Rustaveli Hall (B Block, ground floor) where journalists can watch the inauguration and record interviews.The Parliament will provide a broadcast signal for live coverage of the ceremony.Members of the electoral college, representatives of the government and constitutional bodies, and representatives of the Orthodox Church - a total of 300 people - have been invited to the inauguration.On December 14, the elections for the sixth President were held in the Parliament building of Georgia. 224 delegates of the Georgian Dream voted for the sole candidate, Mikheil Kavelashvili.Georgian President Salome Zurabishvili called the election of Mikheil Kavelashvili as president, a “provocation” and a “parody.”A rally was held in front of the parliament in parallel with Kavelashvili’s presidential election.For the 29th day, demonstrators in the capital and regions have been protesting the decision made in the “Georgian Dream,” according to which Georgia will not put the issue of opening negotiations for accession to the European Union on the agenda until the end of 2028.Since November 28, police have detained more than 400 participants of the rally, including more than 40 people who were arrested under criminal law and face several years in prison.

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Songulashvili highlighted the importance of the share of agriculture in development of the Georgian economy, and expressed interest in sharing Turkey's experience, while also emphasising that existing “friendly and partnership relations” between the two countries were a “basis for effective cooperation”.The Minister also pointed out the importance of diversifying Georgia's markets, with the parties also discussing deepening of the cooperation in fisheries, livestock, irrigation, forestry and waste management, and agricultural mechanisation.On his part, Orbai noted the countries were “connected by historical friendship and partnership”, which he said represented an “important prerequisite for deepening cooperation in various directions”.The meeting also noted the importance of increasing exports of Georgian products to Turkey, as well as deepening cooperation between Georgian wine producers and the HoReCa, hotels, restaurants and cafés sector of Turkey.

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As of the document, in November, the volume of term deposits increased by 655.88 million GEL (by 2.53%; exchange rate effect volume of term deposits increased by 2.14%). Demand deposits decreased by 216.29 million GEL.The larization ratio of total non-bank deposits constituted 48.32% by the end of November 2024 and decreased by 0.98 percentage point (exchange rate effect excluded decreased by 0.83 percentage point) compared to the end of October 2024.The market interest rate on term deposits constituted 6.61%. In particular, the market interest rate for national currency denominated deposits was 9.47% and the market interest rate for foreign currency denominated deposits was 2.75%.The share of the US dollar in the total volume of foreign currency denominated deposits equals 78.85% and the share of the Euro equals 19.48%.

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International currency reserves are an important guarantor of the country’s macroeconomic stability. Accordingly, NBG is always focused on replenishing reserves, which is confirmed by the bank’s stated policy: at a given moment, when the market allows it, the National Bank increases the country’s international reserves.In addition, the foreign exchange interventions carried out by the NBG in the 11 months of 2024 as follows:• January - Net purchase through Bmatch $8.1 million• February - Net purchase through Bmatch $77.5 million• March - Net purchase through Bmatch $127.9 million• April - Net purchase through Bmatch $73.1 million• May - Sale through foreign exchange auction of $108.7 million and net sale through Bmatch of $9.1 million• June - Sale through foreign exchange auction of $60 million and net sale through Bmatch of $42 million• July - Net purchase through Bmatch $1.9 million• August - Net purchase through Bmatch $41 million• September - Net sale through Bmatch $106.5• October - Sale of $213.4 million via foreign exchange auction and net sale via Bmatch of $377.7• November - Net purchase via Bmatch of $124.5The National Bank of Georgia will publish updated data on operations carried out in the foreign exchange market on January 25, 2025.

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