Standards & Methodology
How CIG sources, checks and presents the information it publishes.
Sources
We rely first on primary sources: central banks, national statistics offices, stock exchanges, regulators, company annual reports and filings, official transaction announcements, government publications, and international financial institutions such as the IMF, World Bank, EBRD and ADB.
Secondary sources, such as press reports and third-party research, add context. Where a figure rests on a secondary source alone, we name it and say so.
Figures
Every figure states its value, unit, currency, period and source, for example: GEL 4.1bn, end-2025, National Bank of Georgia. Where we convert currencies, we give the rate and its date. We use exact periods, and we do not present historical data as current. When we compare countries, we use the same definition and period, or say where they differ.
Fact, estimate and view
We keep four kinds of statement distinct:
| Statement | How we present it |
|---|---|
| Fact | Stated plainly, with its source |
| Estimate | Labelled as a CIG estimate, with the method explained |
| Interpretation | Marked as our reading: “we think”, “in our view” |
| Opinion | Attributed to whoever holds it, or labelled “CIG view” |
Structure
Substantial CIG publications move from fact, to context, to analysis, to investment implication. They set out what happened, how it compares, why it happened and what it means for companies, assets and capital flows.
Checking
Every publication is edited and approved by the Head of Research before release. Figures that cannot be verified are removed or presented as clearly labelled uncertainty.
Scope of views
We analyse markets, sectors, companies and transactions. We do not publish buy, sell or hold recommendations, price targets or trade ideas. Where we discuss valuation, we describe it, for example by comparing a transaction multiple with precedents. We do not prescribe action.
Charts and data
CIG charts state their source and period, and the data behind each chart is available to download as a CSV file.
Corrections
When we find an error, we correct it in the publication and add a dated note explaining what changed. We do not make silent corrections.