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Tag Archives: National Bank of Georgia

National Bank: Impact of External Shocks Decline

National Bank: Impact of External Shocks Decline

National Bank of Georgia (NBG) has released a statement promulgating tat negative risks factors have declined in relation to Georgia. According to NBG, Georgian economy continues to recover from the external shock, both due to improvements in the domestic and external environment. In particular, the exports of goods and services, …

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Robert Singletary: Larization Program is Undeniably Successful

Robert Singletary: Larization Program is Undeniably Successful

Robert Singletary, member of the Board of the National Bank of Georgia progressively estimates larization program, despite the fact that merely 3000 out of 27 000 beneficiaries are engaged in the larization program. Member of the Board of the National Bank of Georgia announced on positive expectations of 10-point government plan …

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Minimum Capital Requirement is Increased up to 50 mln for the Banks

Minimum Capital Requirement is Increased up to 50 mln for the Banks

Mandatory minimum of capital requirement is increased for the commercial banks. According to Koba Gvenetadze, president of National Bank of Georgia, capital requirements have not been changed for the commercial banks after 2006 and today the increase is conditioned due to the  the general practice, but it does not mean …

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New Regulations to Set For Tax Service Providers

From 16th of March, tax service provides will registers according to the new rule by the order of President of Georgian National Bank. Georgian National Bank spreads information about it. On the one hand, a new regulation sets new approaches in sense of protecting customers’ right; on the other hand, …

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International Monetary Fund Starts $285 million Program in Georgia

International Monetary Fund starts a three-year project of 285 million in Georgia, – mission of IMF finishes the visit with such a result. IMF supports the program with “extended funding mechanism”. To note, 201,4 million SDR ( over $285 million) will be allocated within the frame of the program, i.e. …

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Supervision of the Financial Sector is Returned to NBG

Supervision of the Financial Sector is Returned to NBG

Supervision of financial sector is returned to National Bank of Georgia. Dimitri Kumsishvili has submitted the draft bill on delivery of supervision to NBG at the government session. “As a result of recent changes we considered that supervision of the financial sector should be returned to the National Bank. Therefore, …

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Alternate Executive Director of IMF Visits Georgia

Alternate Executive Director of IMF Visits Georgia

Dimity Kumsishvili, Minister of Finance and the First Deputy Vice-Premier met Richard Doornbosch, Alternate Executive Director at International Monetary Fund (IMF), who visits Georgia for the first time on this position. The First Vice-Premier Dimity Kumsishvili focused attention on the economic indexes of Georgia, as well as implemented and ongoing fiscal and structural …

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