Tbilisi hosts Asian Development Bank’s regional forum

The national debt management strategy including sustainable analysis, risk management and monetary policy of dozens of countries has been discussing at the Asian Development Bank’s (ADB) regional forum in Tbilisi today.

More than one hundred delegates from ADB member countries as well as international finance institution representatives attended the forum that was opened by a welcoming speech by Georgia’s Finance Minister Nodar Khaduri.

He believed Georgia had to manage the reduction of national debt and promote development of the economy.

"Georgia’s national debt limit value is not high in comparison to other countries and it is very important to maintain the sustainable national debt,” Khaduri said.

The Finance Minister believed Georgia had finished going through the transitional period and the country now had to implement the various reforms and fundamental changes.

"During the transition of authority Georgia’s economy halted and time was needed for businesses to regain confidence,” he told the forum participants.

Khaduri focused on the Association and Deep and Comprehensive Free Trade Agreements, which are expected to be signed in June this year and would help move Georgia closer to the European Union.

"But we believe it is essential to further deepen cooperation with our Asian partner countries. Opportunities the Asian market gives Georgia must be utilised," he said.

ADB Deputy Treasurer Kazuki Fukunaga also welcomed the event participants in his speech and stressed that after the global economic crisis discussions on national debts management had become important.

"Asian Development Banks’s regional forum will contribute to better debt management practices on the regional level and will enable delegates to exchange the views and experiences,” Fukunaga said.

The event will last for three days and was co-organized by the Georgian Finance Ministry and the Asian Development bank.

ADB is Georgia’s strategic partner financial institution. Georgia became a member of Asia’s Development bank in 2007 and since then the organization helped finance important infrastructure projects in Georgia.