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Tag Archives: National Bank of Georgia

Georgia Won Against Russia In “Global Inclusion Awards” Of 2018

The National Bank of Georgia won the 2018 Global Inclusion Award in the category of Regional “Country Award”. The Ministry of Finance of the Russian Federation was named in this category together with the National Bank of Georgia. This is the second time the National Bank of Georgia (NBG) listed …

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Banking Sector’s Revenues Grow

The banking sector’s revenues have increased by 113 million GEL year on year (+20% year on year). In the first quarter of 2018 the sector’s revenues amounted to 941.5 million GEL. In the same period of 2017, commercial banks received 828 million GEL revenues. According to National Bank of Georgia …

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NBG Forecasts Annual Target Inflation to Be around 3%

Koba Gvenetdze Makes a Comment on Sharp Devaluation of GEL

National Bank of Georgia (NBG) expects the 2018 target inflation rate to be balanced on 3% indicator. NBG plans to mitigate monetary policy moderately in midterm period, the NBG President told the Reuters. The 2017 annual inflation rushed up to 6.7%, instead of balancing on 4% target indicator. In January …

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NBG: Current Account Deficit Falls to Historical Bottom

“The current account deficit has seen one of the historical bottoms”, National Bank President Koba Gvenetadze noted. The current account deficit has dropped to 2.9% and this is a serious progress, he said. “For appraising the 2017 performance, economic experts need indicators of 3 other months. However, we can talk …

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IMF COUNTRY FOCUS – Georgia Growing

IMF COUNTRY FOCUS – Georgia Growing

Georgia is in the focus of the International Monetary Fund (IMF). The Vice Prime Minister of Georgia and the President of the National Bank of Georgia (NBG) are responding to the IMF questions on the current situation and perspectives in the country. The interview was held during the annual meeting …

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NBG Vice President: Public Expectations Make GEL exchange Rate Volatile

NBG Vice President: Public Expectations Make GEL exchange Rate Volatile

GEL exchange rate volatility was preconditioned by public expectations after importers have intensified activities. Archil Mestvirishvili, National Bank vice president: We have noted that Georgia has set floating exchange regime, which is accompanied by market fluctuations. As to the factors affecting exchange rate, we have made comments on the issue …

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How Much USD do Commercial Banks Buy and Sell?

National Bank of Georgia (NBG) published indicators about the volume of USD Georgia-based commercial banks buy and sell in Georgia. In 2013-2016 commercial banks used to buy 13.5bln USD and sold 14bln USD a year on average. This signifies commercial banks used to supply more USD to the currency market. …

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NBG to Determine New Rate of Monetary Policy

NBG to Determine New Rate of Monetary Policy

The next meeting of the Monetary Policy Committee of the National Bank of Georgia will be held on October 26 in Tbilisi. According to the NBG, Koba Gvenetadze, President of National Bank of Georgia will hold a press conference after the finish of Monetary Policy Committee. He will inform the …

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Dimitri Kumsishvili and Koba Gvenetadze met with Managing Director of the IMF

Dimitri Kumsishvili and Koba Gvenetadze met with Managing Director of the IMF

The First Deputy Prime Minister of Georgia and Koba Gvenetadze, President of the National Bank of Georgia have discussed current cooperation program and its progress with Tao Zhang, Deputy Managing Director of the International Monetary Fund. The meeting was also attended by Mercedes-Vera Martin, head of International Monetary Fund’s mission. According to the Ministry of Finance, …

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