National Bank President discusses inclusion of Georgia in Int’l Institute for Management Development’s World Competitiveness Index
Natia Turnava, the Acting President of the National Bank of Georgia, on Thursday hosted Arturo Bris, a representative of the International Institute for Management Development. Photo: NBG
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Natia Turnava, the Acting President of the National Bank of Georgia, on Thursday hosted Arturo Bris, a representative of the International Institute for Management Development, an organisation that publishes the World Competitiveness Index, for a discussion on the possibility of including the country in the ranking.
The National Bank said the meeting saw the sides discuss prospects of future cooperation and the opportunity to include Georgia in the Index to evaluate the country’s infrastructural, institutional and economic environment.
Turnava said the IMD’s openness to cooperation with the country’s central bank was due to the “openness and transparency” of the Georgian financial system and its “proper and sustainable functioning”.
We will be happy if Georgia is evaluated according to the World Competitiveness Index, like other authoritative ratings”, she said.
The NBG added the Institute's interest in Georgia was also stemming from the “correct positioning” of the country in the international arena and its “leading positions” in other international ratings.
Georgian Economy Minister Levan Davitashvili on Tuesday said Georgia’s banking system was “stronger than ever” while the country was a “reliable” investment partner.
The World Bank on Tuesday said Georgia had advanced “ambitious” second-generation reforms aimed at boosting private sector development and enhancing financial inclusion thanks to the institution’s €4 million Georgia Financial Inclusion and Accountability project.
Ensuring better quality of internal audit in Georgia’s public sector and raising awareness on relevant practices in municipalities across the country are among the objectives of a new project of the Finance Ministry, revealed on Tuesday.
Georgian authorities have improved the country’s public financial management systems, the World Bank said on Thursday in its 2022 Public Expenditure and Financial Accountability assessment, which compared improvements to the institution’s 2018 report.
The National Bank of Georgia on Monday hosted internal auditors of 12 central banks of different countries as part of an international seminar for internal auditors to share its experience.
Natia Turnava, the Acting President of the National Bank of Georgia, on Friday met representatives from local commercial banks to discuss cooperation for ensuring more resource investment in the domestic economy and ensuring access to finance for bank customers.
The National Bank’s regulations for the financing of the development sector were reviewed on Saturday by Natia Turnava, the Acting President of the National Bank of Georgia and the representatives of local commercial banks and the Business Association of Georgia.