Fitch: Georgia needs stability

Fitch Ratings said that following the lifting of the state of emergency in Georgia today, it will be vital for the country to attain greater political stability if it is to preserve its strong recent economic record and its BB- long-term foreign- and local-currency issuer default ratings and stable outlook.

"If the level of political instability seen in the past fortnight in Georgia were to persist, it could risk undermining economic policy discipline, local confidence and the country's international image at a time when it is vital to attract foreign capital to finance its rapid economic development and substantial current account deficit," Edward Parker, head of Emerging Europe sovereigns at Fitch, said in an agency report.

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