In the past two weeks, Georgians have been waking up with a sense of déjà vu. In a matter of days, the Georgian currency lost over 8% of its value against the US dollar and reversed the course of appreciation against the euro. The lari winter blues are reminiscent of the last months of 2013, when, after a long period of stability, the lari lost about 5% of its value against the dollar in the course of ten weeks.

Any observer of the Georgian economy would probably agree that the country has too many people employed (or, rather, under-employed) in agriculture. Historically, many countries have experienced a secular decline in the share of employment (and GDP) related to the agricultural sector. Yet, Georgia has seen limited structural change out of agriculture (other than, perhaps, into seasonal or permanent labor migration).

One of the most puzzling aspects of the Georgian labor market is what is known as the “qualification mismatch”. While unemployment is high, many positions remain vacant due to a lack of qualified applicants.

Over the last weekend, I was invited by an international development bank to run a workshop in the nice Hotel Eden in Kvareli, Kakheti. The topic of the workshop was “Georgia’s economic future”.

Located in a beautiful gorge between Nabeghlavi and Bakhmaro, Chkhakaura village is home to tough Guruli trout fishermen. The village is difficult to reach even in a sturdy 4x4 SUV, but this does not prevent locals from taking advantage of dilapidated Soviet infrastructure and unique natural conditions to grow trout.