Georgia's interim president has warned the country stands on the brink of "economic collapse" after the ouster of Eduard Shevardnadze
Published:
29 November 2003 y., Saturday
Georgia's interim president has warned the country stands on the brink of "economic collapse" after the ouster of Eduard Shevardnadze and says drastic steps have to be taken to reverse the situation.
Acting President Nino Burdzhanadze told top officials in a televised broadcast that the legacy of economic decline left by the discredited Shevardnadze administration was "even worse than we thought".
"The situation is very difficult. Yesterday's data shows that we are facing economic collapse," she said, adding the situation called for radical measures.
She gave no specific details beyond urging state enterprises to work at full capacity. But her warning clearly prefaced fresh appeals to the West to help her impoverished former Soviet country where the average monthly income is about $40 (24 pounds).
Georgia has fallen out with the International Monetary Fund which refused to lend it money under a poverty reduction programme until the Shevardnadze government dealt with mass corruption and tax evasion.
Šaltinis:
news.ft.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
When you fill up your car with petrol you often find that your hand will reek of petrol unless you have worn gloves.
more »
The EU is going through its worst recession since WWII. Inflation has slowed, but employment and public finances are hard hit. The situation should stabilise in 2010.
more »
In the current economic environment, banks should carefully analyze the current and future total cost of ownership of their technology assets, and evaluate the outsourcing alternative.
more »
Commission proposes first EU law on hedge funds and issues guidelines on bank pay practices.
more »
On 30 April, Lithuania’s Minister of Foreign Affairs Vygaudas Ušackas took part in the round table discussion “The European Union’s External Trade Policy and Lithuania’s Positions: Threats and Possibilities for the Lithuanian Industry”.
more »
Since 28 April this year, the clients of AB Bank SNORAS will be able to process their financial matters in a clearer and more user-friendly environment of “Internet Bank+” system.
more »
2009 ageing report: Europe tackling the challenge of an ageing population but the recession threatens a setback.
more »
More choice, investment and security of supply lie at the heart of the 3rd energy package.
more »
Swine flu, a new strain of influenza, has so far left more than a hundred dead. But in one sector, the illness could have huge benefits.
more »
Central European bargain hunters are crossing borders for the best buys. Slovakian shoppers in Hungary are making the most of their new eurozone membership.
more »