Georgia plans measures to ease pressure on exchange rate as lari hits new low

Georgia is planning steps to ease the pressure on the lari currency, which hit a record low on Tuesday, including taking some of the burden off individuals repaying dollar mortgages and banning online credit services, the prime minister said.
The former Soviet republic has been hit by a drop in exports and remittances and a plunge in the Russian rouble.
While remittances have been growing again, the lari has begun to slide further, hitting an all-time low of 2.5311 to the dollar on Tuesday, down from 2.5026 on Monday.
Prime Minister Georgy Kvirikashvili said the government was planning measures including fixing the exchange rate for individuals repaying mortgages in dollars 20 points lower than the market rate, with the difference to be subsidised by the government.