“The lobby of the Metropole, Moscow's lovingly restored grand hotel a few blocks from Red Square, is almost deserted on this gray spring afternoon. That's just fine with Jeffrey D. Sachs, a boyish-looking 38-year-old Harvard professor who is now probably the most important economist in the world. He has appropriated a cluster of comfortable armchairs for a meeting with two members of his team, Americans who work full time in Russia. The agenda is Russia's safety net or, more precisely, whether unemployed workers will be able to make ends meet.

High and rising levels of foreign currency indebtedness have been an important topic in Georgia over the past several years. To address this issue and protect borrowers from currency risks, the National Bank of Georgia (NBG), as well as the Georgian Government have implemented regulations to hinder excess indebtedness. Let’s have a look at the timeline (Figure 1) of recent lending regulations and the accompanying monetary policy measures and observe their impact on changing lending patterns in the Georgian economy.

The biennial Tbilisi Silk Road Forum was held from October 22-23, an event of the utmost importance for Georgia’s economic development. With over 2,000 people in attendance, the Forum gathered together policymakers, businesses, community leaders, and academics to discuss trade and connectivity, as well as examine the challenges facing countries along the New Silk Road.

People face complicated financial decisions starting from a young age. Financial mistakes made early in life can be costly. Thus, Financial literacy could play an important role in sound financial decision-making. Financial illiteracy has implications for many household behaviors. People with the lack of financial literacy participate less in the stock market (van Rooij et al. 2011), choose mutual funds with higher fees (Hastings and Tejeda- Ashton, 2008), and accumulate less retirement wealth (Behrman et al. 2010).

The average cost of cooking one standard portion of Imeretian Khachapuri stood at 3.24 GEL in May 2019. This is 6.4% lower MoM (compared to April 2019), and 2.4% higher YoY (compared to May 2018).