The war in Ukraine had just begun when I wrote (on the ISET Policy Institute's website and in the Georgian Times) that the present events in Ukraine offer the world a chance to become better. I could not have predicted at the time that hostilities would unfold in such a disastrous fashion or scale, nor could I have anticipated that, following four weeks of the war, we would witness an even larger and, I would say unimaginable human and global catastrophe.

ISET Policy Institute has launched a new project – “Develop the advocacy capacity of CSOs and PSAs”. This project is being implemented with the support of the USAID Economic Governance Program.

As I am writing these lines, Russian tanks are moving deeper into the territory of my country, Ukraine, and emotions are threatening to overwhelm me. But emotions cannot shake what we, as economics scholars, value the most: devotion to truth and careful, impartial use of facts and logic to arrive at conclusions.

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.

In previous articles we have discussed the visible deterioration of Georgia’s energy security, where energy demand keeps increasing and the share of domestic energy sources in overall primary supply (the gross amount consumed by the country over one year) is declining. Reversing this trend requires the country to accelerate the pace that it develops domestic – and mostly renewable – energy generation capacity; ideally in combination with greater efforts to improve energy efficiency.