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What did coronavirus change in economic rankings?

What did coronavirus change in economic rankings?
What did coronavirus change in economic rankings?

As financial market researcher Vakhtang Khomizurashvili says, the evaluations by international rating companies recently fail to reflect the economic processes accurately.

In particular, Khomizurashvili says the economic models drastically changed and re-order rankings that may have a negative influence on the investors' plans.

''The rating companies that establish investment and credit rankings have become inefficient,'' he says, adding they use old standards when making evaluations.

''The business and social development lags behind the progress of the economic development,'' he said.

''Our government cannot imagine how an economic model can be… they are mistaken when focusing on the tourism that will be in agony for at least five years,'' he says.

In his words, it is not right to focus on tourism currently, adding the developing countries' economies are facing higher hazards.

Vakhtang Khomizurashvili claims that it will be necessary to introduce crisis-adapted [economic] models to mitigate the risk of the influence of estimations.

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