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Georgia Signs Currency Swap Deal With China

Georgia Signs Currency Swap Deal With China

Georgia has signed a framework agreement for a currency swap deal with China, the Chinese central bank said Sunday.

The head of the People’s Bank of China, Zhou Xiaochuan, signed the deal with his Georgian counterpart in Tbilisi, the Georgian capital, while attending a meeting of central bank governors of Central Asia, the Black Sea region and the Balkan countries, according to a statement on the PBOC website.

Both sides expressed willingness to establish the swap arrangement to strengthen cooperation on currency matters, promote settlement in local currency, and enhance trade and investment, the PBOC said.