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Nino Burjanadze’s Election Promise Regarding Offshore Funds

Published: September 9, 2013 | 1:46 pm
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The head of the Democratic Movement-United Georgia party and presidential candidate Nino Burjanadze has made an election promise to have offshore funds returned to Georgia and made public. Her press-speaker Bakur Bakuradze has told TV3 that the companies registered in offshore zones will be identified, which will enable the funds to be returned to Georgia.
TV3 has sought to find out whether fulfilling Ms. Burjanadze’s promise is a realistic prospect. According to the Tbilisi State University professor Emzar Jgerenaia, the possibility to have the funds returned from offshore zones to Georgia does exist, even though the process will be a difficult one. According to him, the companies in question cannot be easily identified,and lengthy negotiations with partner states will be required.
Mr. Bakuradze has expressed hopes that a new legislation could soon be introduced, which would make it possible to make companies registered offshore public.

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