Georgian PM accuses opposition of failed revolution plan involving lari exchange rate manipulations

Georgian Prime Minister Irakli Kobakhidze on Tuesday alleged that the radical opposition had a plan to instigate a revolution by manipulating the exchange rate of the Georgian lari and orchestrating the arrival of European officials in Tbilisi, and noted the plan, which was “weak and ultimately unsuccessful”, aimed to destabilise the country over two days.

Kobakhidze claimed the recent change in the exchange rate of lari was “completely artificial” and was an orchestrated intervention by a “specific entity”, stressing “there were possible signs of sabotage”, on which he could not provide details because of the legal restrictions.

It is also forbidden for the National Bank of Georgia by the law to speak about it, but there were direct signs of artificial intervention”, he explained.

“There were plans that the exchange rate of the lari would fall for two days, European MPs, foreign ministers would arrive, and a revolution was supposed to happen. It was such a weak calculation”, the Head of the Government said, emphasising the “calculations” of the radical opposition were “so weak that they are already doomed to failure”.

Responding to a journalist's question about the country’s economic indicators, Kobakhidze noted that Georgia’s economic growth would surpass the International Monetary Fund’s predictions by the end of the year, highlighting preliminary data for the first four months of the year that showed an average economic growth rate of more than 8 percent.

In addition, the PM addressed the business environment in Georgia, highlighting the alleged pressures and bullying faced by businesses from radical opposition. “Business is completely free, but our opponents act against businessmen with exactly the same methods they used before 2012”, he added.