How has the war in Iraq affected the National Bank of Georgia (NBG)?
The war may have indirect effects if the economic situation worsens in Turkey or Russia, Georgia's two major trade partners, accounting for 36% of total trade. Turkey has been largely dependent on external financing, and its ability to revive its economy and service its debts without international aid is questionable. Russia will be mostly affected through the price of oil.
Stepping back from the immediate situation, what have
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