Georgian gov’t increases threshold under which loans must be denoted in national currency

Georgian banks and financial organizations will have to issue loans up to 200,000 GEL only in the national currency.

From January 1, 2017 banks were obliged to issue loans worth up to 100,000 GEL only in the national currency, the Georgian lari. Now the threshold will rise to 200,000 GEL.

The change will affect both physical and legal entities.

Georgian Prime Minister Mamuka Bakhtadze stated today that the change would make Georgia’s macro-economic situation more stable and protect the national currency from external risks.