Georgian PM: devaluation of national currency “short-lived”, “temporary”

Georgian Prime Minister Irakli Kobakhidze on Monday claimed  “some individuals” were “wishing to see a devaluation” of the national currency, the lari, amid ongoing protests in the country against the Government's decision to suspend the country's European Union accession talks until 2028, adding changes in the currency exchange balance were going to be “short-lived”.

As soon as the situation subsides - and it will happen very soon - it will directly affect the rate of the lari”, he said, attributing some of the economic challenges to “external disruptions funded from abroad”.

If it were not for the constant attempt to disrupt the country, our economy would be developing even faster. We have the highest growth rate in Europe; however, it could be even higher if it were not for the constant attempts to destabilise the country from abroad and the actions of the radical opposition. This situation is temporary”, Kobakhidze claimed.

The official exchange rate on Monday showed $1 at ₾2.8478 and €1 at ₾2.9967 in relation to the national currency.