Three int’l consultants join National Bank of Georgia as advisers to Acting Governor

The National Bank of Georgia on Monday said “high-level” international consultants had joined its team as advisers to help the Acting Governor Natia Turnava in efforts for developing the domestic financial market, implementing current and planned reforms in accordance with international standards, and “strengthen[ing] activities in various directions”.

Douglas Laxton, David Vavra and Marcial Nikola Smet will advise Turnava in macroeconomic and monetary policy, development of financial markets, combating financial crimes, enforcement of international financial sanctions and more, the NBG said.

I am sure their experience will make a significant contribution to activities of the National Bank and implementation of current and future projects. Based on the best international experience of the consultants, we will further improve our work in various areas and introduce high standards”, Turnava said.

Laxton previously held high positions at the International Monetary Fund and the Canadian Central Bank. He was involved in the development of the Forecasting and Monetary Policy Analysis System for the NBG.

Vavra also worked at the IMF as well as at the Czech, Ukrainian and Serbian central banks while also contributing for the NBG on a project for refining macroeconomic modelling and forecasts. 

Smet at different times was the head of the financial crimes team at different organisations and Chairman of the Russia and Iran Sanctions Business Committee at UniCreditGroup. He will advise the National Bank on issues of enforcement of sanctions and combating financial crime.