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Tag Archives: NBG

Georgia Forex Reserves Down to $2.449 bln in Oct – c.bank

Forex Reserves

Reuters reporting: Georgia’s foreign exchange reserves declined to $2.449 billion as of Oct. 31, down from $2.464 billion a month earlier, the central bank said on Friday. Reserves have fallen by $250 million since the beginning of the year. The central bank set the lari’s official exchange rate for Friday at …

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NBG Tightens Monetary Policy to Avoid Further Inflation

Inflation Geogia

The Monetary Policy Committee of the National Bank of Georgia  met on November 4, 2015 and decided to increase the refinancing rate by 50 basis points to 7.5 percent. The monetary policy decision is based on the macroeconomic forecast, according to which the National Bank of Georgia continues the monetary …

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Money Transfers in Georgia Amounted $88.6m in September

Georgia is experiencing less financial inflow from abroad. The sum of money transfers coming into Georgia in September 2015 was 32.9 percent less year-on-year (y/y), official figures reveal. National Bank of Georgia (NBG) published latest figures about remittances, which revealed the sum of money transfers from abroad constituted $88.6 million …

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The Gross External Debt Increased by $437.4 mln

DEBT

The gross external debt of Georgia amounted to 14.1 billion USD (31.8 billion GEL) as of 30 June 2015, that accounts to 90.9 percent of the GDP. The gross external debt of Georgia increased by 437.4 million USD during the second quarter of 2015. Out of that increase 341.7 million …

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The Net International Investment Position Increased by 607.6mln

The net international investment position (IIP) of Georgia amounted to -17.5 billion USD (-39.3 billion GEL) for June 30 2015. This is -112.3 percent of Georgia’s GDP. This figure has increased by 607.6 million USD compared to the second quarter of 2014, and by 356.7 million USD compared to the …

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Georgian Central Bank Expects Local Currency’s Strengthening

Georgian central bank’s head, Giorgi Kadagidze considers the rejection to spend state reserves against the backdrop of falling national currency as a right move, RIA Novosti reported Sept. 27. Kadagidze also expects the strengthening of Georgian national currency – the lari. The lari’s rate has for several years remained at …

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Finance Minister: Government and NBG are Actively Cooperating

Finance MInister nodar_khaduri

Georgian Finance Minister Nodar Khaduri believes  that refinance loans issued by the National Bank do not have a negative impact on the exchange rate of the lari. According to him, in general, purely macro-economic factors that contribute to devaluation of the national currency are exhausted, and in the coming days …

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Parliament Overrides Presidential Veto on Banking Supervision Bill

parliament

The Parliament overturned on September 3 presidential veto on a package of bills that removes banking supervisory functions from the Georgian National Bank (NBG). The veto was overridden by the Georgian Dream (GD) parliamentary majority group with 81 votes, 5 more than required minimum of 76. Opposition lawmakers from UNM and …

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NBG: Bank Deposits in Georgia

Latest trends show the number and sum of deposits made in Georgian banks is growing. Specifically, figures released by the National Bank of Georgia (NBG) showed the total sum of non-bank deposits and demand deposits were on the rise in Georgia while term deposits were decreasing. NBG noted the total …

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NBG: The Volume of Money Transfers Declined in July 2015

NBG, publishes report about money transfers in Georgia, in July. In July 2015, the volume of money transfers from abroad constituted 93.4 million USD (210.7 million GEL), which is 31.8 percent (43.5 million USD) less than the amount in July 2014. 90.9 percent of the total money transfers from abroad came …

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