PM Kobakhidze hails Lari as symbol of statehood on 30th anniversary of currency

Prime Minister Irakli Kobakhidze has described Georgia’s national currency, the lari (GEL), as a cornerstone of statehood, as the country marks 30 years since its introduction into circulation.

Speaking at an international conference dedicated to the anniversary on Friday, Kobakhidze reflected on the historic decision to introduce the lari in 1995 and underscored its significance in Georgia’s post-independence journey.

“This year is very important - it is an anniversary year for our national currency,” he said. “I remember well the time when the government made the decision on the timely introduction of the Georgian lari. At that time, our sense that statehood was developing was very strong.”

The PM called the lari’s introduction a defining moment, linking it to a broader narrative of national resilience and identity. “The GEL was born before our eyes, gained a foothold, and today it has been established as one of the important symbols of our statehood.”

Kobakhidze also placed the modern currency within a long continuum of Georgian monetary history, referencing the Colchian Tetri, minted 2,600 years ago, and coins issued under Queen Tamar and King Erekle II.

“The Georgian GEL, which has been serving the interests of our state for 30 years, is a continuation of these traditions,” he noted.

The lari replaced a transitional coupon-based currency in 1995, becoming a key instrument in Georgia’s independent economic policy following the collapse of the Soviet Union.