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Loan Larization Scheme to Launch on September 17

A single-use scheme for loan larization (de-dollarization of national currency), which has been developed by the Georgian Government in cooperation with the National Bank, will be launched on January 17, 2017, while the details of this plan will be approved by the Government at today’s meeting.

Georgia’s Prime Minister Giorgi Kvirikashvili instructed the Minister of Finances to provide a detailed explanation of this process and relevant procedures after today’s meeting of the Government, to provide answers to all possible questions that may arise.

“This is the right process seeking gradually to decrease the dependence of our population and the financial sector on the dollar, and we believe that this project will prove a success,” the Prime Minister stated.