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Presidential Administration Calls on the National Bank and Financial Supervision Agency to Coordinate with Each Other

The Presidential Administration calls on the National Bank and Financial Supervision Agency to coordinate with each other. The corresponding statement was made at a press conference held by President’s Economic Advisor Giorgi Abashishvili.

“The President and the international financial institutions did their best to prevent the weakening and separation of the constitutional institution – the National Bank. Since this wrong decision has already been made, now it is necessary that the government, the National Bank and the Financial Supervision Agency cooperate with each other in order to prevent further losses from the exchange rate”, said Abashishvili.

In addition, he responded to the statements of high-ranking officials on the separation of supervision function from the National Bank. “It is noteworthy that after the veto was overridden, statements have been frequently made by high-ranking officials that the decision on separation of the supervision function from the National Bank was wrong.

It is clear that the only motive for the adoption of the law was weakening of the constitutional institutions”, he said.