Georgia's interim president has warned the country stands on the brink of "economic collapse" after the ouster of Eduard Shevardnadze
Published:
29 November 2003 y., Saturday
Georgia's interim president has warned the country stands on the brink of "economic collapse" after the ouster of Eduard Shevardnadze and says drastic steps have to be taken to reverse the situation.
Acting President Nino Burdzhanadze told top officials in a televised broadcast that the legacy of economic decline left by the discredited Shevardnadze administration was "even worse than we thought".
"The situation is very difficult. Yesterday's data shows that we are facing economic collapse," she said, adding the situation called for radical measures.
She gave no specific details beyond urging state enterprises to work at full capacity. But her warning clearly prefaced fresh appeals to the West to help her impoverished former Soviet country where the average monthly income is about $40 (24 pounds).
Georgia has fallen out with the International Monetary Fund which refused to lend it money under a poverty reduction programme until the Shevardnadze government dealt with mass corruption and tax evasion.
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