ISET would like to congratulate two of its resident faculty members, Karine Torosyan and Norberto Pignatti, together with our visiting faculty member Maksym Obrizan, on the publication of their new joint paper “Job market outcomes of IDPs: the case of Georgia”, in the IZA Discussion Paper Series from the the Institute of Labor Economics, Bonn (the series is ranked 6th worldwide for economics by IDEAS/RePEc). The paper was also published as Human Capital and Economic Opportunity Working Group (HCEO) Working Paper (the HCEO working paper series is one of the two Working Paper Series of the prestigious Becker Friedman Institute for Research in Economics (BFI), University of Chicago).

On March 12 2018, the implementation of a capital market development strategy was evaluated during the second phase of ReforMeter.

Archil Mestvirishvili, Vice President of National Bank of Georgia, Nikoloz Gagua, Deputy Minister of Finance, Bruno Balvanera, Regional Director of EBRD, Francois Painchaud, Resident Representative of IMF in Georgia as well as stakeholders from private and financial sectors attended the discussion.

As Government research revealed, at this stage, 67.7% of the reforms have been implemented. In Phase I, this indicator was 51%.

The greatest progress was achieved in the development of legislative frameworks. Last year, together with other important activities, the German ranking agency Scope was added to the list of agencies (Moodys, S&P and Fitch) recognized by the National Bank of Georgia, which implies that the NBG will consider reliable rankings given by this body to the securities offered as collateral to the NBG. Also, the tax advantage for the so-called free-float was changed in the Tax Code and was replaced with wider advantages that are more convenient to investors. According to this advantage, capital gains are exempt from tax.

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