Bidzina Ivanishvili, the head of Georgia's ruling party and the country's wealthiest man, said Monday he was leaving politics for good, the TASS news agency cited a letter by the politician as saying, Daily Sabah reports. 

Ivanishvili is head of the Georgian Dream party and served as prime minister in 2012 and 2013.

In power since 2012, Georgian Dream has seen its popularity fall due to discontent over its failure to address economic stagnation and perceived backsliding on commitments to democracy.

After a parliamentary election in October, all of the country's opposition parties accused Georgian Dream of rigging the vote it narrowly won, sparking a political crisis in the ex-Soviet country.

Critics accuse Ivanishvili – who is widely seen to be calling the shots in Georgia – of persecuting political opponents and creating a corrupt system where private interests permeate politics.

News.Az