“Compliance with sanctions is very important, and the financial sector is taking it very seriously”, declared Archil Mestvirishvili, acting president of National Bank of Georgia (NBG). He noted that NBG “monitors compliance with sanctions”. More...
Fady Asly, head of the International Chamber of Commerce (ICC) in Georgia, estimates that the ruling Georgian Dream has lost legitimacy, as its leaders are trying to “lead us to Russia instead of Europe”. Asly stated this in an open letter published today, which is addressed to Bidzina Ivanishvili (billionaire founder of the Georgian Dream), which he signs as a businessman, and not as the head of ICC Georgia. More...
Sakstat released estimation, according to which Georgia’s real GDP growth in April, in comparison with the same month of 2021, made up 7.5%. Average rate for the 1st quarter made up 7.2%, while for January-April – 7.3%. More...
National Bank of Georgia (NBG) reported that its Financial Stability Committee decided today to keep the countercyclical buffer unchanged at a neutral level of 1%. NBG noted that for the past 2 years, ratio of loans to Georgia’s GDP has decreased, reflecting the effect of high economic growth and strengthening of lari exchange rate. More...
National Bank of Georgia (NBG) reported that its Financial Stability Committee decided today to increase the liquidity requirements for non-residents’ deposits, placed in foreign currency. The changes will enter in force on September 1. More...
In Georgia, growth of selling price for real estate is rather proportional to construction costs and inflation of industrial production, National Bank of Georgia (NBG) said. Whereas in case of rent, the growth is of larger scale and exceeds its long-term trend by about 30%, NBG pointed. More...
Papuna Lezhava, vice-president of National Bank of Georgia (NBG), points that the Tbilisi interbank rate of interest (TIBR) represents a more market-based and “financially more justified interest”. Lezhava confirms that possibility of linking loan interest to TIBR is being considered, but he does not name the terms at this stage. More...
At the plenary session today, the Georgian Parliament approved draft amendments to the law “On Joint Stock Company – Partnership Fund” (77 votes “pro”). In particular, the name of the Partnership Fund is changed to Georgian Development Fund. More...
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