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Tag Archives: Giorgi Kadagidze

Seizure of Liberty Bank’s shares to Hinder Investors

Seisure of Liberty Bank’s shares to Hinder a New Investor Entrance

Giorgi Kadagidze, the president of National Bank of Georgia declares that new investments cannot be implemented due to the seizure of Liberty Bank’s shares. This information was declared in Rustavi2 TV company based on the announcement of Giorgi Kadagidze. He noted about the protracted disputes, harmful practices of seizing companies’ …

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National Bank Expects the Exchange Rate to Stabilize in the Near Future

The exchange rate of the national currency will stabilize in the nearest future – Giorgi Kasagidze, President of the the National Bank of Georgia, states. According to him, the devaluation of the national currency in recent weeks was  largely caused by   the negative expectations that have arisen due to the …

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Georgia’s Banking Sector Looks to 2016 with Optimism

The Fitch rating for the Georgian bank sector is “Stable”. This signifies considerable reserves of commercial banks will compensate the quality of assets affected by the GEL depreciation. The 36% devaluation was the main challenge in 2015. The bank sector has showed steadiness amid the GEL depreciation, GDP growth slowdown …

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Georgian Central Bank Expects Local Currency’s Strengthening

Georgian central bank’s head, Giorgi Kadagidze considers the rejection to spend state reserves against the backdrop of falling national currency as a right move, RIA Novosti reported Sept. 27. Kadagidze also expects the strengthening of Georgian national currency – the lari. The lari’s rate has for several years remained at …

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Bill has Affected Investor Attitudes, NBG President

NBG-president

President’s veto on the bill concerning the National Bank is yet another opportunity for Members of Parliament to reconsider their decision, NBG’s President Giorgi Kadagidze told reporters. According to him, the bill may create serious dangers for Georgia. “First of all, even from a legal point of view, the bill cannot stand …

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Georgian Lari strengthens against US dollar and Euro

Georgian Lari strengthens against US dollar and Euro

The national currency of Georgia, the Lari (GEL), is continuing to strengthen against the US dollar and the Euro after falling dramatically about seven months ago. For several days the Lari has steadily regained some of its value; it’s first appreciation since plummeting about 30 percent in value since November …

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NBG President Does Not Expect Further Depreciation of GEL

NBG President not Expects a Further Depreciation of GEL

President of the National Bank of Georgia Giorgi Kadagidze, does not expect the GEL to depreciate further in the mid-term period. Giorgi Kadagidze made this comment after holding a meeting with the head of the Budget and Finance Committee Tamaz Mechiauri, together with Finance Minister Nodar Khaduri, Regional Development Minister Nodar …

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NATIONAL BANK RESPONDS TO ACCUSATIONS

NATIONAL BANK RESPONDS TO ACCUSATIONS

The National Bank of Georgia (NBG) and the charges against it are still relevant. After ex PM Bidzina Ivanishvili criticized the NBG President, members of the government’s economic team and representatives of the parliamentary majority also disapproved the NBG activities. It is interesting only several experts had blamed the NBG …

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