Georgia Monitors Ukraine Peace Plan Debates, Faces Domestic Protests, and Economic Shifts
The dominant news of the day centered on the complex discussions surrounding a potential US-backed peace plan for Ukraine. International and Georgian sources reported that US officials have suggested to NATO allies that Ukrainian President Volodymyr Zelensky might face a "much worse agreement" if he doesn't accept a peace deal soon. President Zelensky reportedly formed a delegation, led by Andriy Yermak, to begin consultations on ending the conflict. Georgian political figures offered varying perspectives, with Parliament Speaker Shalva Papuashvili stating Ukraine is in a position where it can "neither continue nor end the war," while President Salome Zurabishvili voiced solidarity with Zelensky.
Domestically, Georgia experienced ongoing political tensions, highlighted by protests in Tbilisi. Eight individuals were detained during demonstrations near the Parliament building on Rustaveli Avenue. Two of the detainees, Vano Skhirtladze and Mikheil Zakareishvili, received administrative sentences of 8 and 7 days imprisonment, respectively. The credit rating agency Fitch Ratings underscored these concerns, warning that a "prolonged or deeper political crisis" could weaken investor confidence due to high political uncertainty and polarization following the disputed 2024 parliamentary elections and the controversial "Transparency Law."
Economically, Georgia presented a mixed picture. Fitch Ratings maintained the country's sovereign credit rating at "BB" but upgraded its outlook to "Stable," primarily citing an increase in international currency reserves. However, Fitch reiterated that political instability remains a concern for investors. On a more local front, apartment prices in Tbilisi saw a 13% year-on-year increase in October 2025. Meanwhile, fines for large vehicles operating during peak hours in the capital escalated by 250% in the first ten months of the year, totaling over 2.5 million GEL. The Georgian Lari showed a slight strengthening against the US Dollar and Euro this week.
In sports, Georgian athletes delivered notable performances. Mixed martial artist Alexandre Topuria secured a decisive victory over Bekzat Almakhani at a UFC event in Qatar, marking his second win in the promotion. In rugby, the Georgian national team, the Borjgalosnebi, narrowly lost 23-25 to Japan in a test match held in Tbilisi. Head coach Richard Cockerill took responsibility for the outcome, though he commended his team's effort against formidable opposition, following earlier victories against the USA and Canada.