Georgia: Lifting of Russian Wine Embargo to Have Limited Economic Impact?
While the recent lifting of the Russian embargo on Georgian wine was a cause for celebration -- both for Russian consumers, who had to go without their favorite bottles of Saperavi for some seven years, and for Georgian winemakers, who had to make due after losing access to a large market with a less-than-discerning wine palette -- questions are being about just how much of an impact this development will have on the Georgian economy.
From a report in the Financial, a Georgian economic news website:
"We do not expect these developments to have a tangible bearing on Georgia's creditworthiness in the near term," said Standard & Poor's credit analyst Ana Jelenkovic. "But they could lead to improvements in key economic and external indicators over the medium to longer term."
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