Tbilisi. Transparency International - Georgia released a blog post - "Temporary suspension of mortgage foreclosure: Citizens' problems will remain unsolved, while the country's economy may suffer". "We call on Parliament not to adopt the draft law, and to treat with caution any future initiative that may potentially undermine the stability of the country's financial system. We do acknowledge the need to reform this sector, however, and welcome relevant initiatives put forth by the authorities in this respect. Yet, these changes must be staggered and relatively painless for the country's financial system. Furthermore, it is vital that financial institutions are actively involved in the reform of this sector.

Moreover, it should be questioned whether this initiative was driven by elections and if administrative resources are used for election purposes. Such unreasonable initiatives, which are in fact solely focused on gaining the voters' will rather than on solving the problem, point to an abuse of administrative resources during the pre-election period", says the blog post.

Source:transparency.ge