WORLD
RATE OF INFLATION GOES UP IN GEORGIA
The head of the International Monetary Fund mission John Wakeman-Linn who arrived in Georgia to get acquainted with the economic situation in the country said that present rate of inflation in the country poses serious risk to stability. According to him, although the rate of inflation was 5 percent in the beginning of 2006 and 6 percent in April, however, in July it reached 14,5 percent.
John Veykman-Lin advised the Georgian government and the President of the National Bank to cut expenditures and to stop buying lari in the Tbilisi currently exchange, saying it will curb the inflation by the end of 2006.
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