National Bank of Georgia

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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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Has the lari stopped falling?

The Georgian authorities and the National Bank of the country are ready to implement the actions required to stabilize the lari in the case of its decline, but further devaluation of the national currency is not waiting for the regulator, the …

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Georgian parliament starts its work on September 1st

The autumn session of the Georgian parliament opens on September 1st with a meeting of the Bureau. The first plenary session will be held on September 2. One of the issues that will be discussed by deputies is the veto imposed by President …

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Georgian national currency continues to fall

The Georgian lari continues to depreciate against the dollar. The depreciation of the currency began in mid-July and continues till now. Thus, on Friday the Georgian National Bank established an exchange rate of 2.3271 lari to the …

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Georgia receives 25% less in remittances

During the seven months of this year the volume of remittances from abroad to Georgia fell by 24.2% (202.3 million dollars) compared to the same period last year and amounted to 632 million dollars. This information is contained in data of the …

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