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According to a communication from Galt & Taggart Research obtained by Opalesque, last week the Galt & Taggart Index (GTI) fell by 20.66% to 354.8 in GEL terms on a trading volume of GEL 20,317
Economy
The World Bank is leading an international mission to assess Georgia's needs following Russia's military intervention last month. The joint mission includes the Asian Development Bank, the European Bank for Reconstruction and Development, the European Commission, the European Investment Bank and the United Nations.
The mission, which began its work on Monday, will assess pressing needs in areas such as infrastructure, environment, agriculture, housing, business environment and social needs of those left destitute and homeless by the conflict.
The mission comes in response to a request from the Georgian government to identify priority areas and financial requirements needed for post-conflict recovery and reconstruction.
The World Bank has said it will also help set up a multi-donor trust fund for reconstruction investment in Georgia.
The National Bank of Georgia cut its benchmark interest rate by 1 percentage point for the second month citing increased business risks and a liquidity crunch.
The central bank reduced the benchmark rate to 10% at its extraordinary Monetary Policy Committee meeting on Friday.
The Committee noted that commercial banks activity has slowed significantly due to increased business risks and the ong...................... To view our full article Click here
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