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Tag Archives: National Bank of Georgia

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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1130 out of 27 000 Credits are Converted in GEL

1130 out of 27 000 Credits are Converted in GEL

According to the President of National Bank of Georgia, 4.2% of loans are converted into GEL by this time. 1 130 (up to $40 000) out of 27 000 credits, with a volume of 14 million USD are converted into GEL. Koba Gvenetadze has declared on the advantage of larization …

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NBG Published Economic Growth Forecast

Photo/ Nika Ksovreli

National Bank of Georgia (NBG) expects economic growth within the frame of 4 percent. According to the central bank, the growth will be basically conditioned by increase of total consumption and investments, which will be supported by the fiscal stimulus, infrastructural projects and business environment improvement. Forecast made by the …

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Koba Gvenetadze: “Finances Should Be Secured”

Koba Gvenetadze NBG

The legislation of National Bank does not regulate such organizations, such as financial company “Georgia”-the head of National Bank, Koba Gvenetadze declared. As Gvenetadze noted in the interview with journalists, the population should pay attention what is written in the contract, not to lose their savings. The legislation of National …

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GEL Devaluated by 14.8% Against USD from Early this Year

GEL Devaluated by 14.8% Against USD from Early this Year

National Bank of Georgia (NBG) purchased the same amount of USD, as it had sold. According to Galt & Taggart, NBG made foreign exchange intervention 24 times. The central bank purchased over 278 million USD and sold 280 million, at that 40 million – in the previous week. It should …

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National Bank of Georgia sold $40 million

National Bank of Georgia sold $40 million

National Bank of Georgia made the first foreign exchange intervention after October 12. NBG sold USD 40 000 000 during its Foreign Exchange Auction. The average weighted bid rate was 2.7823. NBG sold 180 million USD from August. The central bank of the country regards, that the rate of national …

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