trending Market Intelligence /marketintelligence/en/news-insights/trending/baco7zx9nb1xyb5tsl-lqa2 content esgSubNav
In This List

Georgia's prime minister steps down

Blog

Banking Essentials Newsletter: October Edition

Blog

Banking Essentials Newsletter: September Edition, Part - 2

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Georgia's prime minister steps down

Georgian Prime Minister Giorgi Kvirikashvili has quit his post, citing disagreements with the leader of the country's ruling party, Reuters reported.

The entire cabinet is expected to resign along with him, as required by Georgia's constitution.

Kvirikashvili, who became prime minister in 2015, said in a televised statement that Georgian Dream party leader Bidzina Ivanishvili must now be given the opportunity to form a new cabinet.

Georgian Dream has seven days to submit a list of new cabinet members to President Giorgi Margvelashvili, who has another seven days to transmit it to parliament for approval.

Ivanishvili, a former prime minister and Georgia's wealthiest man, was again named Georgian Dream chairman in May. He resigned from the post in 2013.

Georgian Dream bolstered its status as ruling party with its victory in the 2016 parliamentary election. An alliance led by the party first gained control of the parliament in the 2012 polls, although Ivanishvili's coalition later broke away.