Study of Georgia’s Money and Corporate Markets for the Georgian Financial Markets Treasuries Association (GFMTA)   

A study of Georgia’s Money and Corporate Markets for GFMTA is being implemented under the USAID Economic Governance Program.  

In particular, the study has two main objectives: to identify the need for money market instruments among local corporations; and to understand associated challenges that will inform the laying out of a roadmap for specific reforms to support better competition and closer integration of the buy-side sector into the financial markets ecosystem. 

Here, PMCG is employing a mixed-method research design and conducting the following four activities: 

• Engaging in desk research to gain an understanding of relevant challenges and then prepare a roadmap for financial market ecosystem reforms; 

• Carrying out a survey of current members of the GFMTA (the sell-side); 

• Holding in-depth qualitative interviews with representatives of local corporations (the buy-side); and 

• Completing data analysis of the survey results and interview notes. 

Ultimately, the feedback and data obtained from these activities will be summarized and presented in the findings published in a report not exceeding 30 pages. In addition, the report will include a review of international success stories of implementing specific money market instruments. 

The report will also be enriched by up-to-date sources of information, and will contain specific recommendations as well as a proposal to introduce and apply new market tools.