Monetary Policy and Inflation in Georgia (1996-1998)

Introduction

Monetary policy and inflation in Georgia in the years 1996-1998 are the subject of this paper. As it is written in the middle of 1997, the discussed period is in a natural way divided into two parts: past and future. Correspondingly, first sections of the paper deal with facts which have already occurred and with their interpretation, while the remaining sections contain some projections that the authors tried to make for the future.