About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
Passing of Bill on Suspending Foreclosures with Second Reading Delayed
Civil Georgia, Tbilisi / 27 Jul.'13 / 21:20

Lawmakers from the Georgian Dream parliamentary majority decided to delay discussion of a controversial bill on temporary suspension of mortgage foreclosures after PM Ivanishvili spoke out against the proposal.

The Parliament was initially planning discussion of the bill with its second reading at a session on Saturday, two days after the bill was passed with its first reading on July 25.

On July 26 PM Ivanishvili said it was “irresponsible” on the part of the Parliament to pass “hastily” this bill, which envisages suspending foreclosures of homes of individuals with defaulted mortgage loans till February 1, 2014.

Decision to postpone discussion of the bill was announced after Parliamentary Chairman Davit Usupashvili met on July 27 in Kutaisi representatives of commercial banks, who have warned the authorities that adoption of the bill would worsen investment climate and negatively affect banking and financial sector of the country.
“We’ve been promised that this issue would be decided by taking into consideration consequences that this bill will have on country’s economy, but also by taking into account the social issues related to this matter,” Zurab Gvasalia, president of the Association of Banks of Georgia, said after the meeting.

When adopting the bill with its first reading GD lawmakers were mainly citing the need to address the problem of “tens of thousands” of those citizens who were facing imminent eviction from their homes because of their defaulted mortgage loans. A group of defaulted borrowers were also in the Parliament in Kutaisi on July 27, complaining before some GD lawmakers about the decision to postpone adoption of the bill.

GD MP Gedevan Popkhadze, who spearheaded the bill, asked the lawmaker to postpone discussion of the proposal for Monday; he said that consultations would continue on how to proceed further with this bill.


Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2020, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.