About Civil.ge
Eng | Geo | Rus
Last updated: 14:35 - 24 Apr.'14
 
RSS
Mobile
Twitter
Facebook
Money Transfers from Abroad Decline
Civil Georgia, Tbilisi / 17 Feb.'09 / 16:25

Money transferred from abroad to Georgia reduced to USD 51.2 million in January, 2009, a 12.5% decline on the same period of last year, the National Bank of Georgia (NBG) said on February 16.

The last time when decline in the figure for the first month of year was reported was in 2001.
 
The reduction is mainly attributed to the decline of remittances from Russia – a largest source of remittances for Georgia. In January, 2009, money transfers from Russia went down to USD 27 million from USD 35.6 million last January.

Money transfers from abroad amounted to slightly over USD 1 billion in 2008, against USD 866.1 million in 2007.

A joint policy paper by Open Society-Georgia Foundation and Economic Policy Research Center on Georgia’s economic challenges, released last week, warned that remittances were expected to decline this year because of the world financial crisis. It said that the trend would create “a heavy burden” for people, national currency and the banking sector.

Latest News
24 Apr.'14 14:35
Georgian President in Prague for EaP Anniversary
Margvelashvili participates in high-level meeting marking 5th anniversary of Eastern Partnership.
24 Apr.'14 13:42
French, German FMs Hold Talks with Georgian Leadership in Tbilisi
Fabius and Steinmeier arrived in Tbilisi after visiting Moldova.
23 Apr.'14 18:54
Georgian, Greek FMs Meet in Athens
Bilateral ties, Georgia’s EU, NATO integration, as well as Ukraine discussed.
23 Apr.'14 17:43
French, German FMs to Visit Tbilisi
The visit is part of their joint trip, which also includes Moldova and Tunisia on April 23-25.
23 Apr.'14 17:40
PM Rules Out Cabinet Reshuffle
These rumors are spread by UNM to instill “sense of instability”, PM Garibashvili said.
22 Apr.'14 23:49
Ex-Defense Minister Okruashvili Barred from Running for Gori Mayor
CEC said Okruashvili, who returned to Georgia less than 2 years ago, fails to meet residency requirement.
22 Apr.'14 22:52
Iranian President Meets Georgian Diplomat, Raises Rail Link with Georgia via Azerbaijan
The entire region will benefit from this railway link, President Rouhani said.
22 Apr.'14 19:57
Saakashvili Presidential Library Holds Soft Opening
Saakashvili said via video link he will return much sooner than Ivanishvili can imagine.
22 Apr.'14 14:31
Russia Releases Georgian Jailed for 'Spying'
So far Russia released three Georgian citizens, who were serving prison terms for spying.
21 Apr.'14 17:42
Security Chief Replaced in Breakaway S.Ossetia
Attoev, who led breakaway region’s KGB since November 2006, was sent into retirement.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
71