Mikheil Kukava, CEO of Stemscale, declares that the country is in a crisis due to the reduced volume of foreign investments.
In an interview with BMGtv, he focused on the importance of achieving an investment-grade sovereign credit rating for the country.
"There is a real crisis in the country. [Sovereign credit] ratings obviously do not fully reflect the situation. As for how citizens will feel about it, there are already very clear signs of this. Foreign direct investment is decreasing, and the deterioration of the outlook is also very bad. This does not mean at all that [Moody's] will downgrade our rating.
The government's task should be to do what we can to move from the current speculative [Ba2] rating to an investment rating by two points. If the rating increases by one point, confidence in the country will increase tenfold," Mikheil Kukava said.
