Economists' Statement to the Georgian Dream Party

Following Irakli Kobakhidze’s official announcement of the suspension of Georgia’s EU integration, the country’s economic stability has been seriously threatened.

This decision contradicts Article 78 of the Constitution of Georgia, which affirms the nation’s commitment to European integration. Economic development in Georgia requires the rule of law and the strengthening of democratic institutions—elements that are jeopardized by recent political decisions.

Under Bidzina Ivanishvili’s government, Georgia is increasingly veering towards isolation from the West. Each year, the country receives $9 billion in trade, investments, tourism, remittances, and other economic activities from Western nations. The stability of Georgia’s national currency and overall macroeconomic conditions are heavily dependent on continued Western capital.

Furthermore, the adoption of Russian-style laws and economic policies—such as the mismanagement of National Bank reserves, the “offshore law,” pension law changes, and questionable Chinese investments in infrastructure—are introducing further risks to the country’s economy.

The violent suppression of peaceful protests, the mistreatment of demonstrators, and illegal detentions are likely to escalate Western sanctions. These sanctions will pose significant challenges for Georgia’s financial sector and overall business climate.

In light of these imminent economic consequences, we urgently call on Bidzina Ivanishvili’s government to:

1. Immediately release those unlawfully detained during protests.
2. Identify and hold accountable the police officers responsible for the violence.
3. Return Georgia to a path of democratic development, where citizens’ freedom of expression and choice are protected.

Joining the Statement:

• Lasha Chochua – Associate Professor, International School of Economics (ISET); Doctor of Economic Sciences, Bielefeld University, Germany.
• Eteri Kvintradze – Association for Economic Education and Research (PEER), Academic Council ISET, MA Williams College CDE 1999, PhD Georgetown University 2007.
• Nino Abashidze – Assistant Professor, University of Wyoming.
• Sandro Sharashenidze – PhD Candidate, Stanford University.
• Tamari Matiashvili – PhD Candidate, Stanford University.
• Robizon Khubulashvili – Assistant Professor, University of San Francisco.
• Givi Melkadze – Assistant Professor, Georgia State University, PhD Georgetown University 2019.
• Beso Namchavadze – Chief Economist, Transparency International.
• Akaki Tsomaia – Head of the Institute of Economics, University of Georgia.
• Lasha Labadze – Economist, PMCG.
• Mikheil Giorgadze – Williams College, Center for Development Economics (CDE) 2001.
• David Djibouti – Economist, UBS, PhD Charles University Prague.
• Giorgi Mekerishvili – Senior Vice President, AlixPartners, LLP.
• Salome Goglichidze – PhD Candidate, Northeastern University.
• Giorgi Khishtovani – Research Director, PMCG; Associate Professor, Ilia State University.
• Ioseb Berikashvili – Researcher, UGSPN; Associate Professor, University of Georgia.
• Nino Javakhadze – Economist, PMCG.
• Levan Pavlenishvili – Founder, Researcher, Galadh Analytics OÜ.
• Maya Grigolia – Senior Consultant, Deloitte; USAID Contractor.
• Giorgi Bakradze – Williams College, Center for Development Economics (CDE) 2003; ISET, CU, IBSU.
• Giorgi Piriashvili – Assistant Professor, Head of Undergraduate Program, International School of Economics (ISET), University of Notre Dame, USA.
• Irina Guruli – Deputy Executive Director, Economic Policy Research Center (EPRC); Associate Professor, Ilia State University.
• Giorgi Papava – Leading Economist, ISET Research Institute; Associate Professor, Ilia State University.
• Nino Davitaia – Professor, University of Georgia School of Business and Public Administration; Williams College, 1997.
• Zurab Lukashvili – Williams College, Center for Development Economics (CDE) 1995.
• Nikoloz Pkhakadze – Assistant Professor, International School of Economics (ISET), PhD Georgetown University 2021.
• Rati Gabrichidze – Economist, PMCG.
• Giorgi Mamatelashvili – Pension Agency, Williams College, CDE 2013.
• Tamar Giorgadze – Economist, Bachelor of Arts, Williams College, 2016.
• Irakli Shalikashvili – Postdoctoral Scholar, University of Notre Dame; PhD in Economics, University of Notre Dame, 2024.
• Giorgi Barbakadze – Williams College, Center for Development Economics (CDE), 2009.
• Miraim Silveri Machavariani – AI CoE, Citi; Williams College, CDE 2011.
• Tornike Surguladze – Senior Researcher, ISET Research Institute.
• Giorgi Nebulishvili – Senior Researcher, ISET Research Institute.
• Davit Keshelava – Chief Economist, ISET Research Institute.
• Nino Dogonadze – ISET MA, Penn State PhD, Uber Scientist.
• Tamar Bliadze – Senior Researcher, ISET Research Institute.
• Salome Baslandze – Research Economist, Federal Reserve Bank of Atlanta, PhD University of Pennsylvania.
• Ana Burduli – Deputy Head of the Direction, ISET Research Institute.
• Tamar Jugeli – Senior Consultant, Deloitte Luxembourg, PhD University of Groningen.
• Giorgi Chabakauri – Associate Professor, London School of Economics; PhD London Business School.
• Mariam Lobjanidze – Leading Economist, ISET Research Institute.
• Zakaria Babutsidze – Professor, SKEMA Business School.
• Giorgi Shavreshiani – Senior Researcher, ISET Research Institute.
• Elene Seturidze – Deputy Head of the Direction, ISET Research Institute.
• Tatia Khidasheli – Senior Researcher, ISET Research Institute.
• Lika Goderdzishvili – Economic Development Consultant, Ilia State University, Visiting Lecturer.
• Mariam Katsadze – Senior Researcher, ISET Research Institute.
• Salome Solomnishvili – Senior Researcher, ISET Research Institute.
• Archil Iakobashvili – Full Professor, Georgian-American University School of Business; Foreign Exchange Reserves Portfolio Manager, National Bank of Georgia; Western Europe Regional Director, The Economist Intelligence Unit Researcher; Member of the Christian Democratic Union of Germany.
• Sophio Mkervalidze – Junior Researcher, ISET Research Institute.
• Erekle Pirveli – Professor, Director of the Research Center, Caucasus Business School.
• Lukas Kalandia – ISET BA, Newton Free School, IB MYP & DP Economics Tutor.
• Roni Kvachadze – Consultant, PMCG; Visiting Lecturer in Circular Economy, ISET.
• David Lezhava – Williams College, Center for Development Economics (CDE), 2002.
• David Papuashvili – Professor, Georgian-American University; University of New Mexico, 2005.
• Levan Gogichadze – Visiting Lecturer, Georgian-American University.
• Shota Digmelashvili – Economist, Public Sector Researcher; Editor-in-Chief of Forbes Georgia and Squander Detector.