The News in Brief
Wednesday, October 9, 2024
Prepared by Messenger Staff
TI Georgia Condemns Appointment of U.S.-Sanctioned Official for Election Oversight
Transparency International - Georgia has condemned the Interior Ministry's decision to appoint U.S.-sanctioned official Zviad Kharazishvili, known as "Khareba," to lead the formation of "territorial groups" tasked with detecting electoral violations during the pre-election period and on election day. Kharazishvili has been sanctioned for his involvement in the crackdown on protests against the Foreign Agents Law.
TI Georgia expressed concern, stating, "It is alarming that the Minister of Interior has not dismissed Z. Kharazishvili but has appointed him to manage election-related processes." They noted that this allows Kharazishvili and his task forces to act against peaceful gatherings near polling stations.
The organization called on the Interior Ministry to revise its ordinance and remove the Special Task Department Director from the territorial task forces, urging a restriction on police actions against voters gathered near polling places.
National Bank of Georgia Sells $48.5 Million to Stabilize Lari Amid Exchange Rate Pressure
The National Bank of Georgia sold $48.5 million at auction, with a weighted average exchange rate of 2.7194 GEL per US dollar. This move came in response to heightened demand for foreign currency, which placed additional pressure on the lari's exchange rate.
According to the National Bank, the pressure on the lari was primarily due to large, one-time transactions, specifically linked to the scheduled issuance of dividends. To mitigate this impact and stabilize the currency, the National Bank intervened by offering $60 million.
"Over the last few days, excessive demand for the currency has created additional pressure on the exchange rate of the lari, mainly due to large one-time transactions related to the scheduled issuance of dividends. To alleviate this pressure, the National Bank decided to intervene in the currency market," the statement reads.
TI Georgia Condemns Appointment of U.S.-Sanctioned Official for Election Oversight
TI Georgia expressed concern, stating, "It is alarming that the Minister of Interior has not dismissed Z. Kharazishvili but has appointed him to manage election-related processes." They noted that this allows Kharazishvili and his task forces to act against peaceful gatherings near polling stations.
The organization called on the Interior Ministry to revise its ordinance and remove the Special Task Department Director from the territorial task forces, urging a restriction on police actions against voters gathered near polling places.
National Bank of Georgia Sells $48.5 Million to Stabilize Lari Amid Exchange Rate Pressure
According to the National Bank, the pressure on the lari was primarily due to large, one-time transactions, specifically linked to the scheduled issuance of dividends. To mitigate this impact and stabilize the currency, the National Bank intervened by offering $60 million.
"Over the last few days, excessive demand for the currency has created additional pressure on the exchange rate of the lari, mainly due to large one-time transactions related to the scheduled issuance of dividends. To alleviate this pressure, the National Bank decided to intervene in the currency market," the statement reads.