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Tag Archives: NBG

Ministry of Finance Sells 20 million GEL T-bills

On October 18, Ministry of Finance sold 20 million GEL T-bills with 10-year maturity period.  According to National Bank of Georgia (NBG), three commercial banks took part in the T-bill auction. The demand constituted 36 120 000 GEL, while the bottom interest rate totaled 8.950%, the top rate hit 9.380%, …

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National Bank Evaluates 2018 State Bidget Bill

NBG

High deficit in the 2018 state budget does not create inflation risks, the report by NBG on Georgian State Budget Law reads. “The 2018 state budget deficit grows by 60 million GEL to 1.374 million GEL. The consolidated budget bill is planned at 3.7% in relation to the 2018 forecast …

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Capital Market Development Issues Discussed with EBRD Representatives

Dimitri Kumsishvili, Georgia’s first vice Prime Minister and Minister of Finance, and Koba Gvenetadze, president of National Bank of Georgia (NBG), discussed capital market development issues with representatives of EBRD. The meeting was held in Washington, the USA, as part of the annual meeting of IMF and World Bank. At …

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Banking Sector and Securities Market as Competitors

National Bank of Georgia (NBG) warns Georgian citizens that corporate bonds are not insured by either government or NBG guarantees. According to NBG, the website ubani.ge has spread a securities offer with erroneous and misleading information that does not comply with Georgian legislation requirements for securities market. We remind you …

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National Bank Lobbying Commercial Banks

Several days ago National Bank of Georgia (NBG) released a special statement promulgating that corporate bonds are not insured by either Government or NBG guarantees. Therefore, NBG warns the population to show caution when purchasing bonds. Issuance of corporate bonds started in 2014 and several companies have already issued similar …

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50-Tetri Coins of 1995 Issuance to Lose Legal Force in 2018

50 tetri

Under the National Bank’s resolution N5 passed on October 4, 2017, starting January 1, 2018, coins of 50 Tetri nomination issued in 1995 will lose legal force for payment. The so-called Golden 50-Tetri coin comprises a griffon image and the inscription of TETRI on the head side, while on the …

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NBG Keeps Its Policy Rate Unchanged At 7%

NBG

The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on September 6, 2017 and decided to keep the refinancing rate unchanged at 7 percent. The inflation dynamics is in accord with the existing forecast. The annual inflation in August has decreased to 5.7%. According to the …

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GEL/USD Turnover Shrinks on Currency Market

GEL/USD Turnover Shrinks on Currency Market

GEL/USD turnover has shrunk on currency market. Without NBG interventions (70 million USD), in June the contraction constituted 29% month on month (-33 million USD).  According to Monthly Review of NBG, number of deals between market players has decreased (-32% month on month; -19% year on year). Currency market concentration …

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National Bank of Georgia Keeps Key Interest Rate at 7 pct

NBG

National Bank of Georgia said it kept its key interest rate unchanged at 7 percent on Wednesday, based on forecasts showing annual inflation exceeding its target of 4 percent this year. Consumer prices were up 7.1 percent in annual terms in June, 0.4 percent lower from the previous month. “Rising …

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