Financial Soundness Indicators for Sector Stability in Georgia
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The report "Financial Soundness Indicators for Sector Stability in Georgia" provides an overview of the health of the Georgian financial sector and the key challenges it faces. Over the medium term, to increase domestic savings, reduce borrowing cost, and improve the credit risk, the report recommends facilitating property registration, improving the credit information-sharing mechanism, ensuring security of bank deposits, and legislating improvements in reporting standards for firms. In the long term, the government needs to pay particular attention to diversifying its industrial base, setting clear development goals to encourage banks to finance innovation, and create a solid legal base for developing capital markets as an alternative source of firms’ financing. Some financial sector problems, such as low domestic savings, may not be fixed easily, since they would require reducing the inequality in income and wealth. The government’s economic strategies aimed at job creation and inclusive growth are part of the long-term solution.
APRC Study Tour to Poka Nunnery of St. Nino
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On October 9, Agricultural Policy Research Center organized an excursion to Phoka Nunnery of St. Nino, in the Javakheti region of Georgia. The Javakheti highland is a mountainous terrain at an altitude of 2000 m above sea level and home to the ominous Abul Mountain (3301 m) which can be seen from every side. Students from both ISET and researchers ISET-PI joined the excursion.
The nunnery makes many contributions to education of the completely non-Georgian local population. Extra lessons are conducted for the school pupils on Georgian language and literature, geography and English.
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