LONDON/United KIngdom, NOV. 19 2014 (The Conway Bulletin) — Kakha Bendukidze, one of the chief architects of Georgia’s radical privatisation drive under President Mikheil Saaskhvili, has died in London aged 58.
He had recently undergone minor heart surgery and there was no suggestion of foul play.
A biologist who became a wealthy businessman towards the end of the Soviet Union, Bendukidze is best known for being the economy minister under Mr Saakashvili. Under Bendukidze, Georgia pursued one of the most aggressive privatisation schemes in the world.
This massive privatised and tax cutting drive — dubbed Bendunomics — attracted both praise and criticise. Praise from international organisations, such as the World Bank and the IMF, which champion private ownership over state ownership but criticism from rivals who pointed out that lucrative assets which had formerly belonged to the state ended up in the hands of Mr Saakashvili’s allies.
Before he was appointed economy minister in 2004, Bendukidze was a high profile businessmen in Russia advocating a low tax regime and reduced state intervention. He had been on close terms with Mikhail Khodorkovsky, who was arrested and imprisoned on tax evasion charges, largely interpreted as being linked to his various challenges to Russian President Vladimir Putin.
After Mr Khodorkovsky’s arrest and imprisonment, Bendukidze decided that it was time to leave Russia and he readily accepted a position in Mr Saakashvili’s revolutionary government.
A larger than life figure, both in terms of his size and booming personality, Bendukidze left Georgia earlier this year after the current government started to arrest and prosecute high- profile members of the previous administration for various economic crimes. Over the last few months Bendukidze had been advising the new president of Ukraine, Petro Poroshenko, and had been expected to take up a government position.
ENDS
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(News report from Issue No. 209, published on Nov.19 2014)