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Roman Gotsiridze: “In a period of two months

Roman Gotsiridze: “In a period of two months, the Ministry of Finance of Georgia has lent GEL 500 million to banks. The GEL depreciation started from that period.”

6 mins read

The FINANCIAL -- On 20 September 2017, at a session of the Parliament of Georgia, Roman Gotsiridze stated: “Since 5 July 2017, the Ministry of Finance of Georgia has lent GEL 0.5 billion to commercial banks as three-month long deposits. From the period when that money appeared in circulation, GEL started to depreciate.” According to the statement, Mr Gotsiridze believes that this latest depreciation of GEL was caused by the aforementioned decision of the Ministry of Finance.…

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Roman Gotsiridze: “In a period of two months, the Ministry of Finance of Georgia has lent GEL 500 million to banks. The GEL depreciation started from that period.”

6 mins read

The FINANCIAL -- On 20 September 2017, at a session of the Parliament of Georgia, Roman Gotsiridze stated: “Since 5 July 2017, the Ministry of Finance of Georgia has lent GEL 0.5 billion to commercial banks as three-month long deposits. From the period when that money appeared in circulation, GEL started to depreciate.” According to…