National Bank Council elects former Economy Minister Turnava as First Vice-President of Bank
She said the Bank would continue cooperation with international partners, financial and banking institutions and would maintain “strong, close collaboration” with the International Monetary Fund. Photo via National Bank of Georgia
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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.
At the briefing after the meeting of the Council, Turnava said it was a “great honour” to take this position and noted the Bank’s main mission was to “take care of the financial stability of the country and also the stability of consumer prices”.
Our financial system proved its strength [amid challenges] to everyone, maintained high international ratings, and, of course, together with the effective economic policy of the Government, the right [and] adequate monetary policy conducted by the National Bank played a very big role [in it]”, she emphasised and vowed to continue “an adequate, cautious monetary policy”.
She said the Bank would continue cooperation with international partners, financial and banking institutions and would maintain “strong, close collaboration” with the International Monetary Fund.
The continuation of reforms will be one of the priorities, including new technologies, the introduction of digital technologies, the creation of new banking products, and other “interesting innovations” in this regard, Turnava noted.
The Georgian Parliament last week supported the amendments to the law on the country’s National Bank, proposed by the ruling Georgian Dream party, with 82 votes, which introduced 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.
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.
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”.
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.
Archil Mestvirishvili, the Acting Governor of the National Bank of Georgia, on Monday said compliance with international sanctions imposed on Russia for its invasion of Ukraine was “very important”, and the Georgian financial sector was taking the matter “very seriously”.
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.
Natia Turnava, the Acting President of the National Bank of Georgia, on Wednesday said the domestic economic growth this year could exceed the planned six percent.
Natia Turnava, the Acting President of the National Bank of Georgia, on Thursday discussed macroeconomic trends in the country at an introductory meeting with Andrew Jewell, the new representative of the International Monetary Fund in the country.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Tuesday said access to diverse investment resources and innovative financial products could benefit the domestic private sector, in an event organised by the Financial Innovation Programme of the United States Agency for International Development.
Natia Turnava, the Acting Governor of the National Bank of Georgia, on Wednesday defended her institution's "effective policy" and asserted its independence and alignment with international sanctions before the Parliament.