This was after the Georgian lari
weakened against the dollar and euro, the two main currencies in which Georgia Healthcare buys around 70% of its goods.
IFC has announced a long-term local currency loan of 100 million Georgian lari
(about $35 million) to Bank of Georgia to help boost access to finance for smaller businesses and women entrepreneurs.
According to the bank, with support from EBRD in the amount of $60 million, Georgia Capital Eurobond initiates first-ever Eurobond to be issued in Georgian lari
In 2018, Adjarabet generated revenues of 215m Georgian Lari
and EBITDA of GEL 68m.
Ongoing FX Risk: Tegeta Motors faces FX mismatch as all revenue is generated in Georgian lari
, while around 70% of operating costs are linked to foreign currencies, mainly to the US dollar and euro.
I noticed several Georgian entrepreneurs and business people chose to keep their money not in Georgian Lari
(GEL), but in Euro (or very rarely, dollars (USD).
"Strong market fundamentals made the Georgian lari
immune from contagion in the regional currency selloff until early August 2018," analysts at Galt & Taggart Research including Eva Bochorishvili said in a note.
This is the EBRDEe's third successful bond issuance in Georgian lari
managed by JSC Galt & Taggart.
Currency exchange rate fluctuations (the value of the Georgian lari
dropped by around 35% against the US dollar between the third quarters of 2014 and 2015) supported the sales growth of traditional subcategories like bar soap.
[USPRwire, Mon Jun 27 2016] The currency fluctuation in Georgia from the third quarter of 2014 resulted in a 35% devaluation of the Georgian lari
against the US dollar by the corresponding period in 2015.
Since then, however, the republic has grown rapidly, with GDP increasing roughly fivefold in the new millennium, prices and exchange rates of the Georgian lari
remaining stable, and foreign direct investment increasing steadily.
Bank of Georgia Holdings PLC (BGH), the holding company of JSC Bank of Georgia (the Bank), on Wednesday announced that BG Capital, the Bank's the wholly-owned brokerage subsidiary, jointly with TBC Bank, the second largest Bank in Georgia, has lead-managed and underwritten a Georgian Lari
(GEL) denominated bond issued by the European Bank for Reconstruction and Development (EBRD).