Georgian President vetoes amendment to organic law on National Bank, says it’s “neither urgent nor reasoned”
These doubts must be “dispelled”, otherwise the “principle of the independence” of the National Bank may be in question, Zourabichvili stressed, expressing hope that the Georgian Parliament would not override the veto and would take into account the “motivated remarks”, submitted by the President, in regard to the draft law. Photo via Presidential Administration
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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”.
Zourabichvili criticised the amendments, under which a new position of the First Vice-President of the National Bank would be added to the already existing three Vice-President positions, and the First Vice-President would perform the duties of the President in the latter's absence, the Presidential Administration said.
In the process of selecting a new President of the National Bank, there arises a question about the decision to add another position, she noted, adding it was “no doubt” that the Parliament would not support the candidates nominated by her, and by creating an additional position of the First Vice-President [in case of rejection of her candidates], the latter would be able to perform the duties of the National Bank’s President “for an indefinite period”.
These doubts must be “dispelled”, otherwise the “principle of the independence” of the National Bank may be in question, Zourabichvili stressed, expressing hope that the Georgian Parliament would not override the veto and would take into account the “motivated remarks”, submitted by the President, in regard to the draft law.
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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”.
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