National Bank of Georgia

Georgia raises key refinancing rate

The Monetary Policy Committee of the Georgian National Bank raised its key refinancing rate to 6.75% from 6.5% following a pick-up in inflation and said it might raise borrowing costs again in the first half of 2017.

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Georgia declares war against dollar

Georgia's government and the National Bank are planning steps to ease the pressure on the lari currency, including taking some of the burden off individuals repaying dollar mortgages and banning online credit services. Georgian …

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 Georgian government plans to stabilize lari

Georgia's Government said that it plans to take steps to stabilize the national currency. The Georgian Government  in corporation with the National Bank of Georgia (NBG) and the International Monetary Fund (IMF) will …

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 Georgia renews 100 lari banknotes

Modernised 100 GEL (Georgian Lari) banknotes will come into circulation around the countryfrom November 1, the National Bank of Georgia said. Extra high-tech security features were added to the new banknotes, making them better …

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Is Georgia's economy on the rise?

The National Bank of Georgia increased its forecast for GDP growth in the country in 2016 from 3% to 3.5%, the President of the National Bank, Koba Gvenetadze, said at today's briefing. "The difficulties in …

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Georgia refuses from dollars

The Georgian Prime Minister Giorgi Kvirikashvili believes that there is no alternative to dedollarization and strengthening confidence in the Georgian national currency in the long term. "We must take …

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Georgia's central bank delivers another 50bp rate cut

Georgia's central bank continued to ease monetary policy by cutting the key refinancing rate by 50 basis points (bp) to 7%, the National Bank of Georgia (NBG) said on June 15, IntelliNews reports. The regulator began …

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National Bank of Georgia lowers refinancing rate

The monetary policy committee of the National Bank of Georgia (NBG) has lowered the refinancing rate by 50 base points to 7.5%. According to the NBG evaluations, the policy rate neutral level is around 5-6% in the midterm period. As a …

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'Georgian Dream' to meet with Kvirikashvili

Representatives of the parliamentary faction 'Georgian Dream' will hold a meeting with the head of Georgian government Giorgi Kvirikashvili today. It is scheduled for 14:00 (13:00 Moscow time). …

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Georgian government to boost large banks

The government has introduced new tax changes, which will allow large banks to save millions: it is about changes in the tax code, according to which the companies operating on the international stock exchanges will be exempt from paying taxes on …

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 Georgia renews banknotes worth 20, 50 and 100 GEL

Renewed banknotes worth 20, 50 and 100 GEL will appear in Georgia today. The old banknotes will also continue to be used, the Georgian National Bank said. This is the first significant change in the design of banknotes for …

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Georgia holds first currency auction of the year

Today the National Bank of Georgia held the first currency auction in 2016, at which it sold 20 million dollars. The average exchange rate of the lari against the US dollar at today's currency auction amounted to 2.4148 GEL/1 …

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Georgia to accept IMF mission on November 9-21

The mission of the International Monetary Fund  will arrive in Georgia on November 9th   The work of the evaluation mission with the country's leadership will last for two weeks. The program will include meetings …

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Georgian Central Bank increases key rate by 50 base points

The National Bank of Georgia raised its key refinancing rate by 50 basis points to 7% today. The monetary policy decision is based on the macroeconomic forecast, according to which the National Bank of Georgia continues monetary policy …

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