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IMF Demands Return of Supervisory Board to NBG Before the Approval of new Program

IMF Demands Return of Supervisory Board to NBG Before the Approval of new Program

“Board of Directors of International Monetary Fund will approve the new program for Georgia at the meeting scheduled on April 12, in the case of accelerated adoption of legislative changes linked to the returning of Financial Supervisory to NBG. However, in the case of standard procedure, the procedure will take place on May 15 or in the next month”, – Nikoloz Gagua, deputy Finance Minister noteds.

He declared at the parliament, that the market and its players need to determine expanded function of Supervisory Board at the NBG for more clearness.

As a result, the issue would be moved forward before the Constitutional Court adopts the decision, despite that NBG completely fulfils the mentioned function under the ongoing regime.