The Daily Beat: 18 July
Belgium removed Georgia from the list of safe countries. According to the Belgian Internal Federal Public Service, the decision is based on the opinion of the General Commissioner for Refugees and Stateless Persons, and “this overall assessment was carried out with great caution.” Belgium introduced the safe country of origin concept in 2012, updating it annually. However, the list can be reviewed if the situation in the country of origin has changed. Georgia was on the updated list as of April 7, 2023, and removed from the most recent version on July 10, 2023.
Speaking to journalists at an environmental event supported by the EU and the UN, the EU Ambassador, Paweł Herczyński, reiterated the importance of the EU’s decision to restrict movement and contacts with Russia in response to its brutal and unprovoked invasion of Ukraine, stressing: “…We would expect everyone, all international community and especially the like-minded countries and especially countries who want to join the European Union, to follow the same approach.”
The International Monetary Fund (IMF) postponed the submission and approval by its Board of Directors of the second review of Georgia’s Stand-By Arrangement, which included a loan of USD 289 million. According to the Fitch Ratings report of 14 July, the world’s leading credit rating agency, the delay in board approval was “partly due to disagreement on a change to the National Bank of Georgia’s (NBG) management structure.” Recently parliament adopted amendments to the law on the NBG, introducing the post of first vice-president and increasing the number of executive board members. These amendments triggered local and international concerns over the independence of the NBG.
A law firm “Metric” released a statement describing the current situation around the cases of former prime minister and founder of “Georgian Dream” Bidzina Ivanishvili vs. Credit Suisse. The statement notes that the Bermuda Court of Appeal’s decision, dated June 23, upheld the first-instance decision ordering the Credit Suisse subsidiary to pay USD607 million. In addition, Singapore’s Court of First Instance ordered Credit Suisse Trust Limited to pay damages of USD 926 million on May 26, 2023. Nevertheless, a law firm claims that Ivanishvili’s access to most assets has remained problematic.
