Georgia – Absolute Bank

A SUPPLEMENT TO EUROMONEY – April 1997

Stabilization and reform

Prior to the breakup of the Soviet Union, Georgia was among the most productive and, probably, the wealthiest of the Republics. So, at independence in April 1991, expectations for the country’s well being were high. Unfortunately, severe political turmoil and economic mismanagement in Georgia coincided with the many disruptions in trade and economic ties within the former Soviet Union. The results, over the next five years, were very large decreases in production, trade and employment.