Natia Turnava: The Lari Is a Pillar of Georgia’s Economic Independence and Statehood

The past three decades have been a period full of both achievements and challenges, during which the lari has fulfilled its main function – to be a reliable and stable currency for economic relations and the daily lives of citizens,” said Natia Turnava, President of the National Bank of Georgia, during her speech at an international conference in Tbilisi held to mark the 30th anniversary of the lari.

More than 300 guests from 30 countries around the world are participating in the conference, entitled “From Trust to Close Cooperation.”

As Turnava noted, the lari stands as one of the most important symbols of Georgia’s economic independence and statehood. Its creation was preceded by a centuries-old history of Georgian currency.

“On April 9, 1991, following the restoration of Georgia’s statehood, an independent monetary and credit system was established in the country. It was from this period that the preparatory work officially began on the design, name, and technical parameters of the Georgian currency. On October 2, 1995, the lari was declared the sole legal means of payment throughout the territory of Georgia,” she said.