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Loan Dollarizations Decreased From 65 to 58 Percent

“Commonwealth has positively assessed joint events and projects implemented by the Georgian Government and the national bank of Georgia,” Dimitri Kumsishvili says.

According to the Finance Minister, high rates of dollarization are solid challenge for several countries, including Georgia.

It has been five month since the beginning of our larization strategy implementation process and rates has decreased from 65% to 58.

De-dollarization program started in January 2017. Individuals who had real estate bank loans in foreign currency managed to convert it into national currency. Pre-coverage commission fees also abolished.