Before the current insolvency reform, Georgia’s legislative framework regulating insolvency proceedings fell short of meeting international standards – it did not meet either creditors’ or debtors’ needs and failed to offer incentives to the insolvent companies to choose rehabilitation as their optimal strategy for resolving financial difficulties.

ReforMeter and the USAID Economic Governance Program hosted yet another public-private dialogue dedicated to assessing progress in regulatory impact assessment (RIA) institutionalization reform.

On 24 October, Tamar Sulukhia, Director of ISET’s Policy Institute, participated in a panel discussion at an event hosted by the United Nations. This discussion covered numerous critical topics, such as creating decent jobs within the inclusive labor market, the importance of ensuring effective decentralization, etc.

For the fourth quarter of 2023, business confidence in Georgia increased (by 2.4 index points) and reached 18.1. The highest increase in business confidence is observed in the trade (+21.7) sector. The positive change in BCI for Q4 2023 was driven by improved past performance as well as more optimistic expectations.

On 18 October, Tamar Sulukhia, Director of the ISET Policy Institute, took part in a panel discussion dedicated to the launch of the Systemic Country Diagnostic (SCD) Update for Georgia during an event organized by the World Bank. The report, entitled “Georgia: Keeping the Reform Momentum”, provides a comprehensive analysis of the developmental challenges and opportunities that the country requires to accelerate progress toward a reduction in poverty alongside shared prosperity in a sustainable manner.