Central Bank Acting President hopes for “close, effective” cooperation with IMF
Natia Turnava, the Acting President of the National Bank of Georgia, on Thursday met Andrew Jewell, the new representative of the International Monetary Fund in the country. Photo: NBG
Tweet 
Share
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.
Turnava told Jewell the IMF was an “important partner” of the country, adding the “close and effective cooperation” between the sides would continue.
The meeting reviewed the progress of the economic programme of Georgia supported by the Fund, which the sides said was contributing to the “strengthening of macroeconomic stability” in the country.
The NBG also said it had taken a number of “consistent and adequate” steps in response to global challenges, noting its “appropriate” policy had helped manage inflation expectations and ensure price stability in the country.
The institution noted domestic inflation had decreased to 0.3 percent in July, “well below” the target of three percent, while core inflation stood at 3.1 percent.
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.
Archil Mestvirishvili, the Acting President and Vice President of the National Bank of Georgia, on Wednesday said evaluations of Georgia's investment environment by international rating agencies boosted investors' and foreign organisations' confidence in the domestic economy.
The International Monetary Fund on Thursday announced the completion of the second review under the Stand-By Arrangement with Georgia, with the process making about $40 million in support available to the country.
A latest report by the national bank of Georgia has said the country’s financial sector is maintaining stability and is lending to the economy “without interruption”.
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.