Results of The Last Trading Session on The Stock Markets

“The OSCE/ODIHR, as well as Georgian society, recognize the elections; this is the main point,” stated the Georgian Prime Minister, Irakli Kobakhidze, at a briefing held at the Government Administration. The Prime Minister presented the results of a survey in which 53.4% of respondents positively assessed the parliamentary elections. “I’d like to share the results of a sociological survey commissioned by us. The survey included a question on the fairness of the elections: 45.5% of respondents considered the elections to be fair, while 7.9% saw minor violations. In total, 53.4% gave a positive response. Meanwhile, 4.4% considered the elections to have significant violations, and 19.6% viewed them as unfair, giving a total of 24% with a negative opinion. Additionally, 22.6% said they were unsure. The second question asked whether the election results were personally acceptable to the respondents. The responses were as follows: 44.7% said they were acceptable, 6.5% said they were mostly acceptable, so 51.2% found the results acceptable. On the other hand, 3.9% considered the results mostly unacceptable, and 22.8% found them completely unacceptable, with a total negative response at 26.7%. Again, 22.1% were unsure. In conclusion, both the OSCE/ODIHR and Georgian society recognize the legitimacy of elections. This is the most important takeaway. The primary source of legitimacy is the Georgian people, and as you can see, they have acknowledged the legitimacy of these elections. The people who voted for the Georgian Dream with 54% are a testament to that, and the OSCE/ODIHR’s assessment is also important. We appreciate the OSCE/ODIHR for its proper evaluation of Georgia’s parliamentary elections,” the Prime Minister concluded.

The OSCE Office for Democratic Institutions and Human Rights (ODIHR) has released its final report on the observation of the 26 October parliamentary elections in Georgia. According to the press release,  the OSCE/ODIHR reiterates its earlier findings and conclusions. It highlights serious concerns regarding the impact of recently adopted legislation on fundamental freedoms and civil society, efforts to undermine the independence of institutions involved in the electoral process, and pressure on voters. “The elections took place amidst serious concerns about the impact of recently adopted legislation on fundamental freedoms and civil society, steps to diminish the independence of institutions involved in the election process, and pressure on voters, which combined with election day practices compromised the ability of some voters to cast their vote without fear of retribution. In its assessment of post-election developments and complaints, ODIHR found that cases were not considered sufficiently, limiting legal remedies, and the forcible suppression of protests and numerous arrests caused grave concerns about compliance with international commitments to freedom of peaceful assembly. “Numerous issues noted in our final report negatively impacted the integrity of these elections and eroded public trust in the process,” said Eoghan Murphy, who headed ODIHR’s 2024 election observation mission to Georgia. “To safeguard the democratic principles currently at stake in Georgia, it is imperative that the authorities urgently address all concerns.” While observers noted the legal framework provides an adequate basis to hold democratic elections, the report also emphasizes that recent frequent amendments marked a step backwards, raising concerns over its use for political gain, and restated ODIHR’s longstanding recommendation for a comprehensive legislative review. Today’s report reiterates the negative impact of the polarized and instrumentalized media and limited campaign finance oversight, although contestants were generally able to campaign freely and candidates across 18 party lists competed in a low-key campaign. Many advantages taken by the ruling party in addition to a significant imbalance in financial resources contributed to the uneven playing field. Preparations for the elections were well managed. However, on election day frequent compromises to the secrecy of the vote, several procedural inconsistencies, and reports of pressure and intimidation, including through the recording of the process, negatively impacted public trust in the process and an otherwise generally procedurally orderly election day. Today’s report underlines that complaints both before and after election day were frequently not comprehensively considered and dismissed on technical grounds, undermining the right to a proper review of concerns. ODIHR therefore recommends measures to guarantee effective remedy and increase public trust. Following the elections, there have also been massive protests that were repeatedly violently dispersed and resulted in numerous arrests and allegations of brutality towards protesters and journalists, in breach of international commitments guaranteeing the right to freedom of assembly as well as the right to freedom from torture and other forms of ill-treatment. In line with its mandate, ODIHR does not recognize or endorse elections. Instead, ODIHR provides a comprehensive and impartial assessment of the electoral process based on universal principles, international obligations, and the commitments to hold democratic elections made by all OSCE states. This enables voters to form their own judgments about the quality of the election. The Office also stands ready to support a wide range of electoral stakeholders in their efforts to address the issues through post-election dialogue and concrete action. Today’s report offers a number of recommendations to improve the conduct of elections. These require changes both in law and practice to address the issue of low public trust and the ability of voters to cast their ballots without fear, and at the same time to increase the transparency and integrity of the electoral process in Georgia for the benefit of all,” the press release reads.

“I would like to thank the OSCE/ODIHR for their proper assessment of the parliamentary elections, despite the attacks,” the Georgian Prime Minister, Irakli Kobakhidze, announced at today’s briefing. The PM noted that the OSCE/ODIHR’s recent conclusion essentially mirrors the preliminary assessment issued shortly after the elections. “I would like to thank the OSCE/ODIHR, which, despite the attacks, appropriately evaluated the parliamentary elections. It is important to us that the OSCE/ODIHR has shown its willingness to cooperate with the newly elected authorities of Georgia to improve the electoral environment and procedures,” the Prime Minister stated.

“Today we propose visa restrictions for Georgian diplomats. Our message to the leadership is clear: Stop harming your own people,” wrote Ursula von der Leyen, President of the European Commission on the X Platform. “The Georgian people have been protesting against the government’s choice to halt the EU path. Peaceful protests, met with police violence. Today we propose visa restrictions for Georgian diplomats. Our message to the leadership is clear: Stop harming your own people,” she said.

“The radical opposition has failed in absolutely all attempts, including their attempt to pressure businesses,” stated Georgian Prime Minister Irakli Kobakhidze at today’s press conference. As the head of government noted, business freedom cannot be threatened in any way. “The radical opposition has failed in absolutely all attempts, including their attempt to pressure businesses. They achieved some small results, but they couldn’t achieve any substantial results. Our response to all of this will be singular: business freedom cannot be threatened in any way, including the freedom of those business entities that joined such acts, our attitude is unequivocal. As for the radical opposition, the same signature they had under their governance until 2012, they are acting with exactly the same signature today – invasion into business, violation of business freedom, pressure on business, this was their signature until 2012 and the exact same signature can be read here,” stated Irakli Kobakhidze.