According to the Galt & Taggart's Managing Director, Georgia and the world met the crisis caused by Coronavirus more prepared than years ago.
Speaking to BMG, Otar Sharikadze also talked about the risks that the extension of the pandemic could create on global stock exchanges while assessing the sustainability of the financial sector.
"Globally, the stock market is in a bad condition. After markets showed growth since Trump has become the presidents, today that growth is completely erased. At the same time, it seems that both the European Financial Institutions and the United States Reserve Fund are ready to raise unlimited funds not to suspend supply of necessary sums and avoid defaults. If we compare the situation to 2009, then the risk of bank default was very high and many banks even faced this reality. Today, not only in Georgia, but also globally, they are much more ready to meet this, ” Otar Sharikadze said, adding that today the problematic situation is more for global companies than for financial institutions.
According to G&T's Managing Director, the main question now is whether the corporations will be ready to handle the commitments.
See all the news
Turkey to open doors to 31 countries for health tourism
Coronavirus: Boris Johnson moved to intensive care
First-Stage Land Usage Permit for APM Terminals Poti
How will Nenskra HPP Reduce the Electricity Import?
Carrefour: The product will be on the shelves with the prices same as before
Differences between tobacco and nicotine products
OECD cuts 2020 global growth forecast over virus
Georgia to export new armored vehicle Didgori Meomari
"Hotels are in shock, reservations are canceled" - Shalva Alaverdashvili
Georgian brand Entrée enters the UK market and opens its first facility in London
Frontera claims that Georgian government has started harassing the company since 2013
Company HotelFriend offers convenient eComerce platform to Georgian Touroperators
Will the head of "Anaklia Deepwater Port Development Agency" be replaced?
TOP-10 Exporter Companies from Georgia to Russia
TBC Bank Group announces certain changes to the composition of the Management Board
Silknet signed Memorandum of Understanding with Global Communications Company One Web
Prosecutor’s Office allows Avtandil Tsereteli to leave the country
Mamuka Khazaradze: We want to avoid arbitration, but the Consortium is ready for that
Reuters: Dutch city tells floating Georgian monastery to cast off
TBC Bank Group Shares up by 6.3% WoW on the LSE