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Tag Archives: National Bank of Georgia

At this Stage, the Crisis is Overcome, Lari Reached Highest Peak, PM Says

Irresponsible statements should not be made in relation to the national currency, PM Irakli Garibashvili told reporters at the government administration where he held a working meeting with the National Bank President George Kadagidze. The PM called on everyone to be responsible when referring to the national currency. According to …

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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 …

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Real Inflation Indicator Surpasses Target Point in Georgia

The annual inflation rate has surpassed the target point. In August, the annual inflation indicator made up 5.4% and exceeded the planned target by 0.4%. A major rise in prices was recorded in the sector of alcoholic beverages and tobacco. The inflation rate marked 13.1% in this sector. A 9.3% …

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Central Bank Raised its Refinancing Rate Again – Expert Evaluation

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on August 12, 2015 and decided to increase the refinancing rate by 50 basis points to 6.0 percent. According to the central bank’s  statement, the monetary policy decision is based on the macroeconomic forecast, which indicates increase …

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National Bank Increases Refinancing Rate by 50 Basis Points

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on August 12, 2015 and decided to increase the refinancing rate by 50 basis points to 6.0 percent. The National Bank has released a statement about the issue, which we are offering without any change in it: …

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President Vetoes the Bill on NBG

President George Margvelashvili has vetoed the bill on the National Bank of Georgia at today’s briefing. The bill, which envisages separation of the supervisory service from the National Bank, was submitted to the Presidential Administration on July 22. The President was given ten days to present his observations and carrying …

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Opinions of the National Bank and Banks Association Diverged

An interview with George Tsutskiridze, the Executive Director of the Association of Banks of Georgia President of the National Bank says  that the bill that envisions stripping the National Bank of Georgia (NBG) of its banking supervisory functions will have negative consequences for the banking system and investment climate in general. …

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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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