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Francois Painchaud: National Bank of Georgia is The Best Central Banks in Region

National bank of Georgia, is one of the best central banks in the region, IMF Resident Representative for Georgia Francois Painchaud said.

“The monetary policy of the National Bank of Georgia is adequate. In 2016, the inflation was reduced, although in early 2017, the National Bank tightened monetary policy because inflation was rising due to rising excise and imports. As we know, the exchange rate in the Caucasus region and Central Asian countries does not define the price stability, so the countries should strengthen the monetary policy frameworks. At the same time, countries of the region must have clear monetary policy goals, the central banks should be independent and have strong communication mechanisms, as well as to improve their analytical tools and enhance the transmission mechanisms”.

I would like to emphasize that the National Bank of Georgia has implemented these challenges already.

The National Bank of Georgia is one of the most powerful central banks in the region. It has strong regulations, successfully carries out banking supervision, is proactive and provides financial stability in the country, “François Painchaud said.