For Georgia and internationally - The state of the Sustainable Development Goals 2018
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A number of reports released during late spring described and explained global achievements related to Sustainable Development Goals (SDGs). First released was the World Bank’s “Atlas of Sustainable Development Goals 2018”, which shed light on trends on a regional level (Georgia is categorized as lower-middle income country). With the help of data collected from the World Development Indicators, the report presented pedagogical charts and colored maps to show the extent of progress (or lack thereof) on each of the seventeen SDGs with the help of carefully-chosen indicators. The main reasons for this comparison were to show global advancement and how it affects countries and their inhabitants. It will thus help the World Bank and its partners to elevate efforts in areas where they are the most needed. In the case of Georgia it was noted that, for example, Goal 7 (ensuring - in short - access to affordable, reliable, sustainable and modern energy for all). According to the report, of the total energy consumption in Georgia, 10-40% consists of renewables. This is a share that Georgia has in common with major emerging countries such as India and China as well as the neighboring country Armenia.
Gigla Mikautadze Panelist at TBC Capital Business Forum
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Gigla Mikautadze, the project manager of ReforMeter, was invited to a business forum dubbed “Bond Market in Georgia” organized by TBC Capital on June 15, 2018. One of the major highlights of the forum was a research paper entitled “Bond Market in Georgia”, which concerned the trends and challenges that TBC Capital presented to the forum attendees.
According to the paper, the corporate bond market followed in the footsteps of the government bond market, but at a slower pace. Bank of Georgia issued the first corporate bond in 2005 (USD 2 m in par value), but the public corporate market did not grow noticeably until 2014. In that year, the NBG started accepting GEL-denominated corporate bonds as collateral from commercial banks, fueling both bond issuance and commercial activity. As a result, public corporate bonds outstanding more than quadrupled from GEL 56 m in 2014 to GEL 232 m in 2017. Nevertheless, the ratio publicly issued corporate bonds to GDP is still low at just 0.6% in 2017.
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