Georgian Weekly Digest 14 August 2017

Economy

National Bank of Georgia (NBG) purchased US$ 20mn at 2.3910 exchange rate on 7 August 2017. This marked the 8th time in 2017 the national bank intervened in FX markets. So far in 2017 NBG bought net amount of US$ 129.75mn through its currency auctions.

Georgia’s gross international reserves stood at US$ 2.94bn (up 2.9% y/y and down 0.6% m/m) as of 31 July 2017. The NBG did not purchased currency during June. Georgia’s foreign reserves equal 3.9 months’ worth of imports.

 

Debt and Money Market

Eurobonds: during the week Georgia’s Sovereign Eurobond (GEORG 4/21) price was unchanged w/w at 112.0 (YTM 3.4%). BGEO Group JSC (BGEOLN 7/23) price was down 0.1% w/w to 102.6 (YTM 5.5%), Georgian Oil & Gas Corporation (GEOROG 4/21) price was unchanged w/w at 105.8 (YTM 5.0%), while Georgian Railway (GRAIL 7/22) price was down 0.1% w/w to 110.0 (YTM 5.4%).

 

Equity Market

On Friday’s trading session, TBC Bank Group PLC (TBCG LN) shares closed at GBP 15.60, down by 8.7% w/w. During the week 105.0 thousand shares traded on the London Stock Exchange.

During the week 257.9 thousand of BGEO Group PLC (BGEO LN) shares traded, closing at GBP 33.92 (down by 6.2% w/w) on Friday’s trading session.

Georgia Healthcare Group PLC (GHG LN) shares were down by 3.5% w/w closing at GBP 3.45 on Friday. During the week 147.4 thousand GHG shares changed hands on the LSE.

No trades were recorded on the Georgian Stock Exchange.

 

Georgian Weekly Digest

August 14, 2017
National Bank of Georgia (NBG) purchased US$ 20mn at 2.3910 exchange rate on 7 August 2017. This marked the 8th time in 2017 the national bank intervened in FX markets. So far in 2017 NBG bought net amount of U ... learn more

Georgian Weekly Digest

August 7, 2017
Georgia’s real GDP growth rate was 4.6% in June 2017 while average real GDP growth in 2Q 2017 was 4.0% and 4.5% in 1H 2017. The rapid estimates for GDP growth are calculated by GeoStat based on VAT numbers, ... learn more

Georgian Weekly Digest

July 31, 2017
The National Bank of Georgia (NBG) kept its policy rate unchanged at 7.0%. The central bank noted that a spike in inflation in Q2 2017 was in line with initial forecasts and was mainly driven by one-off items s ... learn more

Georgian Weekly Digest

July 24, 2017
In June 2017, trade deficit shrank by 13.3% y/y to US$ 411.4mn on the back 37.4% y/y increase in exports to US$ 230.8mn and a unchanged y/y imports at US$ 642.2mn. ... learn more