Central Bank Acting President hopes for “close, effective” cooperation with IMF

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.