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Levan Vepkhvadze: there will be pressure on the GEL ... In such a case a non-standard approach is necessary

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Natia Taktakishvili
12.11.20 13:30
693
Levan Vepkhvadze, President of Business Association of Georgia declares, that pandemic will have the pressure on the GEL.

However, the so-called Lockdown, announced in the major countries by remittances will have an impact on USD inflow.

"I personally see more pressure on GEL due to the problems created by the pandemic in the country. We talked about the pandemic in the spring and we talked about the post-pandemic period. However, the pandemic continues and the post-pandemic has not come, hence the pressure on lari continues. We see that "lockdowns" have also started in those traditional countries and this can have a negative impact on USD inflow. Also, the prospect of tourism renewal is not in the near future. Naturally, the pressure will be on the national currency, so I say that in such situation non-standard approaches are necessary and only a change in the monetary rate cannot help it. On the contrary, it can damage the process," - said Vepkhvadze.