Prior to the current Insolvency Reform, Georgia’s legislative framework regulating insolvency proceedings fell short of meeting international standards – it did not meet neither creditors’ nor debtors’ needs and failed to offer incentives to the insolvent companies to choose rehabilitation as their optimal strategy for resolving financial difficulties.

Georgia’s new insolvency law – the Law of Georgia on rehabilitation and the collective satisfaction of creditors’ claims – became effective on 1 April 2021. Under which, if a business operating in Georgia has reached a low ebb and is no longer able to meet its financial obligations, it has the opportunity to regulate relations with creditors based on new legislative instruments – effectively, it is able to rehabilitate and return to the market in a viable manner, or, if necessary, it might declare bankruptcy and exit the market.

If you are an undergraduate student of an accredited higher education institution or a student of a vocational education institution in Georgia and ongoing economic reforms in the country interest you, this call is for you!

On 22 June 2022, ISET Policy Institute visited the Svaneti region’s Tetnuldi College in Mestia to conduct an informational ReforMeter session with the local youth and organizations that work on youth issues, among their other activities.

The ISET Policy Institute, the USAID Economic Governance Program, and Internews Georgia hosted a two-day training course to introduce journalists to the MediaTOR platform and its Library of Economic Reforms for Media.