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Gvasalia: Version on Insufficient Liquidity of Banks is not Correct

Gvasalia: Version on Insufficient Liquidity of Banks is not Correct

“Larization program will reduce pressure on the national currency and rise foreign exchange risks to the borrowers”, – President of Banking Association declared on the double benefit of the governmental campaign.

Zurab Gvasalia focuses attention on functionality of the program, accessibility of refinancing loans at the expense of expanded collateral base and on the possibility to purchase USD at the fixed current exchange rates for the banks.

“It is wrong interpretation – several billion refinancing loans are issued, when the matter concerns to a one-week loan and mechanical fine does not correspond to the reality. Version of the banks’ liquidity shortage is also wrong, when the sector has more liquidity than enough”, – Gvasalia advises potential customers, participating in the program, to wait for the notification through 5 days and appeal to the banks, if there is not the respond.