Georgian Parliament overrides President's veto on ruling party’s bill on National Bank
With 82 votes and nine against, the legislative body supported the original version of the draft law at a plenary session, after the failure of the motivated remarks on the bill submitted by the President. Photo via Parliament of Georgia
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The Georgian Parliament on Tuesday overcame Georgian President Salome Zourabichvili’s veto on the amendments to the law on the country’s National Bank proposed by the ruling Georgian Dream party.
With 82 votes and nine against, the legislative body supported the original version of the draft law at a plenary session, after the failure of the motivated remarks on the bill submitted by the President, the Parliament press office said.
The new amendments introduce a new position of the First Vice-President of the National Bank in addition to the already existing three Vice-President positions, which will perform the duties of the President in the latter's absence.
Zourabichvili vetoed the ruling party-proposed bill in February, claiming the amendments would “undermine the independence” of the NBG and adding there was “no need” to add members to its board, or an interim President, if the position of the Chair became vacant.
Following the ruling party's claims last week that Zourabichvili was “deliberately hampering” the bank’s “uninterrupted operations” by not presenting candidates for two vacant positions in its board for voting in the Parliament, Irakli Kobakhidze, the head of the GD party, earlier today announced his party would “definitely override” President’s veto to “prevent a potential institutional crisis”.
In his comments, Kobakhidze said passing the bill would prevent potential threats to the “proper functioning” of NBG, adding it was a “fact” that the President’s moves were “encouraging a crisis” in the institution.
The party also accused Zourabichvili of “violating” a deal struck earlier this year, in which GD claimed the President had accepted to nominate Finance Minister Lasha Khutsishvili to the board in exchange for the party’s pledge not to override her veto on the amendments.
Responding to the ruling party’s allegations last week, the President’s office accused GD and the Government of “exerting pressure” on Zourabichvili to nominate Khutsishvili for the vacant post, alleging she saw the Minister as a “professional [individual], but affiliated [him] with the Government”.
Georgian President Salome Zourabichvili on Thursday vetoed the amendments to the country’s organic law on the National Bank, adopted by the Parliament on an expedited basis. As she explained the changes were “neither necessary, urgent nor reasoned”.
The ruling Georgian Dream party on Wednesday accused the country’s President Salome Zourabichvili of “hampering” the National Bank of Georgia’s operation by preventing appointment of members to its vacant board positions, and said it would overcome the Presidential veto on a bill of amendments on the institution in response.
Irakli Kobakhidze, the head of the ruling Georgian Dream party, on Tuesday announced his party would “definitely override” President Salome Zourabichvili’s veto on amendments to laws related to the country’s National Bank to “prevent a potential institutional crisis”.
Kakha Kaladze, the Secretary General of the ruling Georgian Dream party, on Monday said his party was “refusing to respond” to President Salome Zourabichvili’s critical comments on the current Government over the recent years due to its “respect of the Presidential institute” and “national interests”.
The Council of the National Bank of Georgia on Thursday elected the former Economy Minister Natia Turnava as the First Vice-President of the Bank with the majority of votes.
Natia Turnava, the newly appointed First Vice President of the National Bank of Georgia, who currently serves as the Acting Chairperson of the institution, on Saturday said the independence of the Bank, guaranteed by the Georgian Constitution, would be “inviolable and protected”.
Natia Turnava, the Acting President of the National Bank of Georgia, on Thursday discussed domestic economic trends, macroeconomic policy and projects implemented as part of the country’s cooperation with the United States Agency for International Development in her meeting with Kelly Degnan, the US Ambassador to Georgia, and John Pennell, the Head of the USAID mission.
Natia Turnava, the Acting President of the National Bank of Georgia, on Thursday discussed economic trends in the country, questions related to domestic financial stability and projects implemented with the support of the European Union in a meeting with Pawel Herczynski, the bloc’s Ambassador to Georgia.
Georgian President Salome Zourabichvili on Wednesday signed amendments related to the domestic medical sector and intellectual property rights despite having “several question marks” over the changes, her Administration said.