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The President Plans to Name Board Members of NBG Until the End of January

The President continues consultations for selection of board members of NBG and supposedly, it should be finished until the end of January, – George Abashishvili, head of Presidential Administration has declared about it to the reporters.

The new candidate should replace George Kadagidze, president of National Bank of Georgia on the Board of NBG, whose authority term expires in February. However, the new candidate will not automatically become the Chairman of the Board and President of the NBG.

According to the procedure, a new candidate submitted by the President needs to be supported by the parliament, and he merely will become the Chairman of the Board. Later, Board of NBG will submit candidate of Chairman of the Board by majority of voters and if the President approves him, he will head the National Bank. It should be noted, that Board of NBG can adopt the decision with 4 members, so approval of the new member is not urgent.

However, authority term expires to other three members of the Board in December, 2016 – Archil Mestvirishvili, Otar Nadaraia and Lasha Jugeli. Head of Presidential Administration hopes that the parliament will support the named candidate.

We welcome the professional discussion, but disapproval of openly selected candidate should not be right