06.Apr .2020 18:28

Coronavirus and Stock Exchanges - Forecast of Galt & Taggart's Managing Director

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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.