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Banking

De-dollarization would be the Only Way to Increase Confidence within the National Currency, Says PM

I trust Koba Gventadze\’s statement that de-dollarization could be the only technique to improve confidence while in the Georgian lari, – Pm Giorgi Kvirikashvili said while commenting on NBG President Koba Gventadze\’s statement as outlined by which, people should get accustomed to living without having the dollar.?

“I absolutely are in agreement with Koba Gventadze\’s statement, …

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Banking

The National Bank Of Georgia Continues Sharing Its Experience On Prudential Supervision

Within the frames from the regional capacity development program, the International Monetary Fund Technical Assistance Center for East Africa (IMF East AFRITAC) arranged a professional visit to your representatives with the Bank of Uganda to the National Bank of Georgia (the NBG). Within the visit, the NBG shared its analytical framework and experience on macroprudential …

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Banking

National Bank Lowers Monetary Policy Rate to.5%

The Monetary Policy Committee (MPC) on the National Bank of Georgia (NBG) met on September 7, 2016 and thought to minimize the refinancing rate by 25 basis points to 6.5 %.

The monetary policy decision will be based upon the macroeconomic forecast, in line with that this phasing away from tight monetary policy must …

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Banking

National Bank Releases Special Statement on Deal between TBC Bank and Bank Republic

The National Bank of Georgia (NBG) has released an exceptional statement for the new deal between TBC Bank and Bank Republic. The statement reads:

\”Regarding info on today\’s deals staying with you sector, the nation\’s Bank of Georgia (NBG) declares that negotiations amongst the parties are confidential additionally, the NBG is not really authorized to divulge …

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Banking

Temporary Administration is Appointed by NBG in \”Caucasus Development Bank-Georgia\”

National Bank of Georgia (NBG) adopted decision to appoint?temporary administration in \”Caucasus Development Bank-Georgia\”.

According to NBG, to tell the truth not brought on by the difficulties from the bank, operating in Georgia, but by the processes developed around Azerbaijan-based mother bank.?Assets of \”Caucasus Development Bank-Georgia\” amounts 0.14% of total banking assets. The lender still continues …

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Banking

National Bank of Georgia has Set a brand new Exchange Rate

GEL has dropped against USD, while strengthened against EUR.

National Bank of Georgia has set the latest exchange rate by September 20, depending on which cost of 1 USD can become 2,3167 ?GEL, 1 EUR /2.5866 GEL.

Starting with September 19, the GEL has devaluated by 0.0056 ?point? against USD, while …

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Banking

NBG: GEL Was Strengthened In excess of the essential Factors Conditioned

Vice-President of National Bank of Georgia estimates the existing drop of GEL rate.

Archil Mestvirishvili explains, that commenting on instant change of GEL minute rates are not correct in order to avoid production of expectations along at the market.?Manager of NBG names the reasons why, which caused fluctuation of GEL rate.

“Due towards correction of external sector, …