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Papava speaks out against Eurobonds issue

By M. Alkhazashvili
(Translated by Diana Dundua)
Thursday, February 21
MP Lado Papava has announced his opposition to the government’s planned USD 500 million Eurobonds issue.

“By issuing Eurobonds we would be drawn into the current crisis [in world financial markets],” the newspaper New Kommersant quoted Papava, a former economy minister, as saying.

On January 31 Prime Minister Lado Gurgenidze said the government is in talks with several major banking groups including JP Morgan, UBS and Merrill Lynch to manage the issue.