Georgia's politicians sign a fragile truce
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Opposition leader release, Parliament boycott ends, general election if ruling party wins under 43% in October local one
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Tourism drives 9% of GDP so fewer protests are positive but truce is fragile with October the next potential flash point
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Contradiction: US$500mn 5y Eurobond 4x oversubscribed this month whereas bellwether stock Bank of Georgia down c10% ytd
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
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