German Development Minister: cooperation with Georgian Gov’t “can no longer be meaningfully implemented”

Over the past 2 years, the assets of borrowers remaining in the sector have halved. As of 01.01.2022, they exceeded 8 million GEL, and the loan portfolio (38 MFOs) amounts to GEL 1.3 billion.According to the 9-month report of microfinance organizations (33 MFOs), as of Q3/2024, up to 4.8 million GEL of borrowers' assets remain in the sector in exchange for outstanding liabilities. The total credit investment of MFOs is 1.963 billion GEL.The loan, before the property pledged as collateral is repossessed, is included in the bad debt portfolio, for which up to 100% is reserved according to the supervisory norm.Credit rating with repossessed property (GEL):

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In a press briefing, Patel also expressed “deep concerns” over reports of use of excessive police force against demonstrators, as well as arrests of, and attacks on journalists.He urged the Georgian Government to ensure peaceful nature of protests while “strictly adhering” to the rule of law, human rights, and fundamental freedoms.Patel highlighted the principles were “essential” to Georgia’s Euro-Atlantic aspirations.

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According to analysts, the NBG currently has a natural margin of appreciation, taking into account the seasonal factor, the NBG knows that demand for GEL will increase before the New Year.Whether or not it has been able to purchase more currency since November 25, the NBG will provide us with information again if it deems it appropriate, as it did on November 25 regarding the purchase of $85.7 million, after the September-October foreign exchange spending (up to $698 million).The combination of the NBG's steps makes expert Marina Guledani think that the recent decisions were precisely to compensate for the country's isolation and sanctions. She expressed doubts about this during her visit to BMG.The NBG knew about the interest in de-escalation and therefore would not have allowed it, because the choice is lustrated. The NBG knows that the risks are already realized. The cessation of Western capital is inevitable and therefore introduces a penalty rate that is tripled 3 weeks after the elections, explaining the need with a European directive. Guledani believes that the NBG expects resistance from the banking sector, which is part of a unified international financial system and will not be able to adapt to a local regulator.In October, the system was deprived of up to 600 million GEL of liquidity through the NBG's foreign exchange auctions (the NBG sold $213.5 million in 4 auctions). More than 1 billion through Bmatch trading and other instruments.In November, there was a decrease of 840 million GEL through government conversions. The balance of overnight loans, after an increase of 2 billion, decreased by 300 million in November and decreased by 375 million in December, respectively, falling below 2.5 billion by several hundred. In addition, 500 million GEL was issued through a one-month instrument in November.

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According to them, the move by the Georgian Dream to abandon EU accession negotiations is a complete betrayal of the absolute desire of the Georgian people to accept European values and institutions.“The Georgian Dream’s move to abandon European Union membership negotiations is a profound betrayal of the Georgian people’s clear and overwhelming desire to embrace European values and institutions. This is not the conduct of a government committed to democratic reforms and pluralism but of an insecure regime dragging Georgia toward Russian-style autocracy. These actions flagrantly violate international democratic norms and undermine the legitimate aspirations of the Georgian people.We strongly condemn the violence unleashed against peaceful protesters – tear gas, rubber bullets, water cannons, beatings, and mass arrests have no place on the streets of Tbilisi. Georgian authorities responsible for human rights abuses and the erosion of democratic principles must face accountability from their own people and the international community. The Georgian people’s sacrifices for Euro-Atlantic integration demand our continued solidarity and action,” the statement said.

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Participants of the mass protest rally gathered in front of the parliament for the sixth day. They again used pyrotechnics against the police forces of the Ministry of Internal Affairs.The Ministry of Internal Affairs first tried to disperse the protesters with water cannons, and then chased them away from the territory adjacent to the parliament. Soon after, the police forces began violently detaining citizens, using tear gas, and throwing so-called gas capsules from the roofs of buildings.Despite this, the protesters did not disperse, setting up barricades and trying to neutralize the tear gas capsules.Tedo Kvachakhia, a cameraman for the TV company “Formula”, has been taken to the clinic with a concussion.He was injured while covering the protest on Rustaveli Avenue on the night of December 4.Beso Gaprindashvili, a cameraman for Public Broadcaster, was also injured during the protest on Rustaveli Avenue. According to 1TV.ge, he was injured in the hand by pyrotechnics.After the measures to disperse the protesters on Rustaveli Avenue began, the participants of the protest retreated to Republic Square, where members of the special forces unit were also present.At dawn, some of the participants of the protest marched to the Delisi metro station, where the protest was dispersed.

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“Tonight marks a troubling escalation. Peaceful demonstrations barely began when crackdowns started. This is an attack on freedom of expression and the right to protest – basic rights violated, not to mention the way people are arrested and treated once detained,” she wrote on the X Platform.According to the President, Georgian people demand their “European future back.”“Across Georgia, people are rising against the Russian puppetry regime. From the capital to the smallest towns, this is a movement unlike anything in our history. The message is clear: Give me my vote back! Give me my European future back!” she said.

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“Naturally, Lithuania would provide asylum if such a need arose, but at the moment, President Zourabichvili has made it very clear that she will stand with her people in Tbilisi ” Skaisgiryte stated on LNK television.

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"A very important official denial of false information, as if Georgian soldiers in Ukraine would come and join the protests. Full propaganda. The only war is the one started by "Georgian Dream" against the Georgian people," the president wrote on social platform X.Earlier, the "Georgian Legion" released a statement that Russian propaganda recently started spreading false claims that the Georgian Legion plans to return to Georgia and participate in protests."We categorically deny these baseless accusations. While we fully support the Georgian people's righteous indignation at the Georgian government's decision to halt progress towards EU membership, our fight remains here in Ukraine, where our common enemy is. Since 2014, "Georgian Legion" has stood firm in its loyalty to Ukraine and will continue to stand against Russian aggression. "Our commitment to the victory of Ukraine is unwavering and we will be on the front line until this goal is achieved," the statement said.

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