Key Facts

GDP (ppp) per CAPITA

$4,700 (2008 est.)

Inflation Rate

10% (2008 est.)

Population

4,615,807 (July 2009 est.)

Country Risk Ratings

C

Ease of Doing Business

15/181

Global Competitiveness

90/134

Country Map

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gE Network

There are 7 members in the
gE Network for this country.

Georgia : Introduction

The region of present-day Georgia contained the ancient kingdoms of Colchis and Kartli-Iberia. The area came under Roman influence in the first centuries A.D. and Christianity became the state religion in the 330s. Domination by Persians, Arabs, and Turks was followed by a Georgian golden age (11th-13th centuries) that was cut short by the Mongol invasion of 1236. Subsequently, the Ottoman and Persian empires competed for influence in the region. Georgia was absorbed into the Russian Empire in the 19th century. Independent for three years (1918-1921) following the Russian revolution, it was forcibly incorporated into the USSR until the Soviet Union dissolved in 1991. An attempt by the incumbent Georgian government to manipulate national legislative elections in November 2003 touched off widespread protests that led to the resignation of Eduard Shevardnadze, president since 1995. New elections in early 2004 swept Mikheil Saakashvili into power along with his National Movement party. Progress on market reforms and democratization has been made in the years since independence, but this progress has been complicated by Russian assistance and support to the breakaway regions of Abkhazia and South Ossetia. After a series of Russian and separatist provocations in summer 2008, Georgian military action in South Ossetia in early August led to a Russian military response that not only occupied the breakaway areas, but large portions of Georgia proper as well. Russian troops pulled back from most occupied Georgian territory, but in late August 2008 Russia unilaterally recognized the independence of Abkhazia and South Ossetia. This action was strongly condemned by most of the world's nations and international organizations.

Georgia: National Bank of Georgia

The National Bank of Georgia is the central bank of the country and is focused on ensuring monetary and financial stability. Aside from the "Georgian Banking System Development Strategy for 2006-2009," the site offers reports on inflation as well as statistics on monetary issues. Available in English and Georgian.

Georgia: National Bank of Georgia

The National Bank of Georgia is the central bank of the country and is focused on ensuring monetary and financial stability. Aside from the "Georgian Banking System Development Strategy for 2006-2009," the site offers reports on inflation as well as statistics on monetary issues. Available in English and Georgian.

Sources:
CIA World Factbook (September 2009)
U.S. Dept. of State Country Background Notes (February 2009)