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1. საკრედიტო რისკების მოდელირების ჯგუფის უფროსი
Grigol Modebadze
(+995 593) 970807
grigol.modebadze@gmail.com
PROFECIONAL EXPERIENCE
02.2014 – current STATE SECURITY AND CRISIS MANAGEMENT COUNCIL, Economic Security
Department, Senior Adviser
“Doing Business Ranking Improvement” working group (10 groups) – Team leader
(four groups: Enforcing Contracts; Trade Across Borders; Paying Taxes and Resolving
Insolvencies):
• Identified potential rooms for development in “Doing Business” main/sub indicators;
• Assessed and analyzed potential rooms for development;
• Prepared legislation and policy recommendations for Prime Minister and Government.
Created complex analytical tool for all “Doing Business” indicators (10) based on “Doing Business”
methodology, that gives possibilities to identify potential rooms for development in sub indicators and
based on „simulation modeling“ calculate country ranking.
Main responsibilities:
• Reporting and analyzing an issues of broad scope and complexity pertaining to State
security within the field of Economics and Social affairs (basic directions of internal and
external threats and challenges);
• Preparing proposals and recommendations on economic development policy and strategy, as
well as on various issues related to national development and security;
• Prepared analytical framework (complex instrument tools) for measuring and forecasting
financial stability of country economy;
• Analyzing comprehensive data on various issues related to development and reform based
policy;
• Obtaining and analyzing the most important internal and foreign policy issues directly
related to the ensuring of the state development and security;
• Coordinating of Economic Sector National Policy Formulation and its implementation
process;
• Evaluating of effectiveness of the State Economic Development Programs and providing
recommendations on the improvement of the programs design and implementation etc.;
• Providing the Director of Department with informational and analytical materials on
Macroeconomic (public policy, international trade, investment and other) issues;
• Coordinating of timely implementation of planed activities taking in to account principles
and procedures set by the Governmental agreements and local legislation;
• Elaborating and delivering to the Director of Department to forecast, avoid and neutralize
the internal and external threats to the vital interests of the country;
• Presenting proposals and recommendations to the Director of Economic security department
on the issues to be discussed at the Meeting of the Council;
• Monitoring the implementation of the Prime Minister’s resolutions on the matters state
development and security;
• Coordinating the activities of the temporary interagency working groups established by the
Council.
• Preparing the meetings of the Department on economic issues;
• Organizing coordinated activities of the state agencies under occurrence or threats of crisis.
09.2011 – current FREE UNIVERSITY OF TBILISI and AGRARIAN UNIVERSITY OF GEORGIA,
Assistant Professor, Department of Economics and Business
Courses: Macroeconomics, Microeconomics, Financial Management and Corporate
Finance.
09.2011 – 09.2013 THE WORLD BANK, TBILISI, Economist

2. Macroeconomic monitoring:
• Substantially contributed to “Georgia: Economic Report” September 2013, “Georgia: New
Challenges and New Opportunities” April 2013, “Georgia: Economic Report” October
2012, “Georgia: Policies for Sustained Strong Growth” March 2012 and “South Caucasus
Macroeconomic Monitoring Report” September 2011.
• Calculated GDP and Export Growth elasticity for South Caucasus countries, conducted
analysis for cross country current account deficit and did various cross country analysis, etc
• Prepared monthly short notes on macroeconomic development of Georgia
• Prepared quarterly short notes on fiscal and banking sector development of Georgia
• Worked-out medium term macro projections applying RMSMX modeling tool
Note on Georgian regions:
• Coauthored “Trends and Challenges in Regional Development” report.
Note on Georgian banks interest rate spread:
• Prepared mimeo on drivers of banks interest rate spread in Georgia - “Are banks interest
rate spreads too high in Georgia “. This work also includes excel spreadsheet that allows
doing analysis for any period (yearly, monthly).
Support to Public Expenditure Review (PER) and Development Policy Operation (DPO)
reports:
• Substantially contributed to prepare Georgia PER and DPO reports
• Prepared economic analysis for DPO
• Collected all available fiscal data for Georgian municipalities and build complex
spreadsheet for all kind of fiscal data analysis on five digit level
• Conducted data analysis
Support to Georgia Competitive Industries study
• Conducted statistical analysis of Enterprise firm survey data in STATA for investigation of
firms labor productivity in different economic sectors
• Conducted research on firm competitiveness by economic activity
• Investigated potentials of economic sectors by region
Cross support to Imereti and Kakheti regional development project preparation:
• Provided cross-support for preparation of Kakheti and Imereti Regional Development
Projects. In particular: collected all available data for Georgian regions and build complex
spreadsheet for all kind of analysis, forecasting and calculations. I have conducted
statistical analysis of Regional and Enterprise firm survey data in STATA, wrote economic
analysis, and prepared annexes (Economic and Financial Assessment) for kakheti and
Imereti regional development report, contributed to develop monitoring indexes for Kakheti
and Imereti projects etc.
Cross support to South Caucasus Skill Development project
• Conducted Vocational Education and Training Tracer Survey (I-III phase ) data analysis
Data analyzing, monitoring and updating:
• Prepared following datasets: Cross country comparison data for analyzing economic
development of key sectors of the Georgian economy. Created database for Georgian
regions, build spreadsheet to calculate indicators for mining sector in Georgia and did
filtering all kind of datasets for various analysis. Updated Macroeconomic database for
Georgia by monthly, quarterly and yearly. Created complex five-digit level fiscal data
matrix for Georgian municipalities etc. regularly updated Georgia LDB to support the User
Survey databases, regional tables, fiscal database, GNI per capita exercise and have done
many other related comprehensive data analysis.
02.2008 – 07.2011 TBILISI STATE UNIVERSITY (TSU), Assistant Professor, Department of Economics
and Business
Courses: Principles of Economics and Microeconomics
08.2010 – 01. 2011 THE WORLD BANK, FDI analyst; the project sought to estimate FDI restrictions in key service
sectors in Armenia.
• Estimated Ad Valorem Equivalents in Key Services Sectors of Armenia
• Supported for the built the template of Market Share by Region in Key Service Sectors of

3. Armenia
• Analyzed Armenian Law to support WBI’s “Survey on Impediments to International
Integration”
• Wrote a detailed project report for the Ad Valorem Equivalents Estimation
08.2008- 07.2011 INTERNATIONAL SCHOOL OF ECONOMICS (ISET), Senior Researcher.
General support to ISET faculty and the following projects:
• Khachapuri Index – a way of tracking inflation. Providing market analysis for Khachapuri
ingredients and calculating index.
• Conducting regressions and basic statistical analysis for cross section and panel data sets for
a variety of ISET faculty projects
• Providing recommendations for the econometric technique that was most appropriate for the
“Dynamics of Neighborhood Formation and Segregation by Income” project.
The World Bank, FDI analyst; the project sought to estimate FDI restrictions in key service
sectors in Georgia.
• Estimated Ad Valorem Equivalents in Key Services Sectors of Georgia
• Built the template of Market Share by Region in Key Service Sectors of Georgia
• Analyzed Georgian Law to support WBI’s “Survey on Impediments to International
Integration”
• Wrote a detailed project report for the Ad Valorem Equivalents Estimation
• Supported for the Input-Output Table Decomposition in Business Services
• Gathered and updated government data (National Bank of Georgia and National Statistic
Department) to approximate sector market share
Millennium Challenge Georgia Economic Impact Evaluation; Rural Infrastructure
Development Project –Evaluation of Economic Benefits from expending water supply by using
Computable General Equilibrium Model (CGEM);
• Co-designed an Input-Output table for all economy sectors of Georgia
• Built templates ( micro models) for Georgian business for better understanding their coping
strategies
• Cleaned data sets from the National Statistics Department
• Co-Wrote a literature review on the structure and features of applied CGE models.
• Provided assistance in designing quantitative studies on the effects of unreliable water
supply on Georgian businesses
• Conducted in-depth interviews to better understand how Georgian communities cope with
poor water quality
• Learned GAMS and gave a presentation for MCG on how GAMS software can be used for
their impact evaluation
Comparative Study of teaching programs at five Centers of Excellence: NES (New School
of Econ, Moscow), KSE (Kiev School of Econ), Cerge-EI (Center for Economic Research and
Graduate Education of Charles University), CEU (Central European University) and ISET
(International School of Econ, at Tbilisi).
05.2008 – 09.2008 KALA KAPITAL, financial consultant
• Reviewed various project reports and, evaluated financial projects.
• Budgeted, built financial statements, and wrote reports for financial projects.
04.2008 – 07.2008 THE NATIONAL BANK OF GEORGIA, Intern.
• Monitored the quality of received datasets, performed regressions on panel, cross section
and time series data and conducted macroeconomic modeling;
01.2008 – 05.2008 THE WORLD BANK, SWEROAD AND MINISTRY OF ECONOMIC
DEVELOPMENT OF GEORGIA, Transport Economist; the project sought to estimate
Human Costs of the Road Traffic Accidents for Georgia
• Analyzed data based on information received from Transport Department of the Ministry of
Internal Affairs of Georgia: quantitative analysis of car crash accidents, human deaths,
automobile damages, automobile brands;
• Conducted highway construction cost-benefit analysis: calculated economic rate of return,
defining maximal and minimal speed limits on different highway sections, estimated car
repair, human health care or funeral costs after the car accident, etc.
02.2008 – 05.2008 CAUCASUS ONLINE, financial consultant

4. • Coordinated project on implementation of institute of stock and bonds at the Georgian stock
exchange;
09.2005 – 10.2006 TBILISI CITY HALL, Economic policy Department, specialist;
WORKING PAPERS
Modebadze Grigol., 2011 "Foreign Investment Effects on the Banking Sector in Georgia". Research Paper
under the Economics Education and Research Consortium (EERC) grants competition, # R09-5741, EERC Working
Papers Series 11/11E
Modebadze, Grigol and Eroyants, Karine., 2010 “Ad Valorem Equivalence to FDI Restrictiveness in Armenia”
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1912366
Modebadze Grigol., 2004 "Investments of Commercial Banks, Functional, Organization and Structural
Perfection Issues". VII th international scientific conference of students and aspirants, international business
faculty. Tbilisi, Diploma for the first place. Thesis published in 11/ 2004, TSU special edition
MIMEOS:
Modebadze, Grigol, 2012 “Are Banks Interest Rate Spreads Too High in Georgia”
Modebadze, Grigol,. 2009 “Ad Valorem Equivalence to FDI Restrictiveness in Georgia”
https://docs.google.com/folder/d/0B0V-t-Bs4-hXYjA3MTQ5MDctNTAxYy00M2I4LWI3NDAtZGRiNDI3NmYwOGU2/edit?hl=en&pli=1#
PAPERS IN EDITED VOLUMES
Jensen, Jesper and Tarr, David G., 2010 "Regional trade policy options for Tanzania: the importance of services
commitments," The World Bank Policy Research Working Paper Series 5481.
Edward J. Balistreri and David G. Tarr., June 2010 “Services Liberalization in Preferential Trade Arrangements:
The Case of Kenya”, The World Bank Policy Research Working Paper Series 5552.
Jensen, Jesper and Tarr, David G., May 2010 “Can Preferential Liberalization of Services Reduce Welfare: The
Case of Tanzania”.
EDUCATION
2015-current THE CHARTERED FINANCIAL ANALYST (CFA)
Candidate of CFA 1
2006-2008 INTERNATIONAL SCHOOL OF ECONOMICS (ISET), Tbilisi, Georgia
Master in Economics (MA).
2002-2006 IVANE JAVAKHISHVILI TBILISI STATE UNIVERSITY, Tbilisi, Georgia
Bachelor’s Diploma received Faculty of Economics and Business, “Finance, Banking and insurance”-
special group
1997.2002 IN HONOR I. VEKUA “PHYSICS AND MATHEMATICS” HIGH SCHOOL.
2012 Training: “Modern Econometrics with STATA” The World Bank; Washington DC, United States
2012 Training:”Macroeconomic Accounts and the Elements of Financial Programming”, The World Bank,
Washington DC, United States
2010 Training: “Analytical Tools for Services Trade Analysis Course” The World Bank; Moscow, Russian

5. Federation;
2010 Training: “Transport & Logistical Services Trade & Negotiating Skills: A Training of Trainers and
Executive Course for CIS/Balkan Countries”. The World Bank; Vienna, Austria;
2010 Training: “Services Trade Reform and Negotiations in the CIS and Balkan Countries”. The World Bank;
Vienna, Austria;
2009 Regional Seminars for Excellence in Teaching”The Art of Economic Decision -Making”, International
School of Economics (ISET), Tbilisi, Georgia;
2009 Winter Workshop: Global Financial Crisis. Free University of Tbilisi;
2008 Teaching fellowship seminar. Center for Economic Research and Graduate Education of Charles University
(CERGE_EI), Prague, Czech Republic;
2008 - 2009 Association of Charted Certified Accountants (ACCA) F1, F2, F3, F5_ English program;
2006 Training Certificate in “International Accounting Standards and Tax System”. Accounting Training center;
2005 Training Certificate in “CORPORATE GOVERNANCE”. Tbilisi Stock Exchange;
AWARDS
2006-2008 Merit Scholarship for Master's Study, International School of Economics (ISET);
2002-2006 Merit Scholarship for Bachelor’s study, TSU.
SKILLS
Languages: Georgian (native),
English (Excellent),
Russian (Well)
Computer skills: STATA, SPSS, Maple, Microsoft Office.

6. Federation;
2010 Training: “Transport & Logistical Services Trade & Negotiating Skills: A Training of Trainers and
Executive Course for CIS/Balkan Countries”. The World Bank; Vienna, Austria;
2010 Training: “Services Trade Reform and Negotiations in the CIS and Balkan Countries”. The World Bank;
Vienna, Austria;
2009 Regional Seminars for Excellence in Teaching”The Art of Economic Decision -Making”, International
School of Economics (ISET), Tbilisi, Georgia;
2009 Winter Workshop: Global Financial Crisis. Free University of Tbilisi;
2008 Teaching fellowship seminar. Center for Economic Research and Graduate Education of Charles University
(CERGE_EI), Prague, Czech Republic;
2008 - 2009 Association of Charted Certified Accountants (ACCA) F1, F2, F3, F5_ English program;
2006 Training Certificate in “International Accounting Standards and Tax System”. Accounting Training center;
2005 Training Certificate in “CORPORATE GOVERNANCE”. Tbilisi Stock Exchange;
AWARDS
2006-2008 Merit Scholarship for Master's Study, International School of Economics (ISET);
2002-2006 Merit Scholarship for Bachelor’s study, TSU.
SKILLS
Languages: Georgian (native),
English (Excellent),
Russian (Well)
Computer skills: STATA, SPSS, Maple, Microsoft Office.