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Tag Archives: Archil Mestvirishvili

Lowering Effective Interest Rate to 50% Cannot Control Interest Rates

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Lowering the effective interest rate to 50% cannot control interest rates, Archil Mestvirishvili, vice president of National Bank of Georgia (NBG) noted at the NBG event, where a new project about financial education was introduced. “One of the changes that will be submitted to the Parliament calls for lowering effective …

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NBG Vice President: Public Expectations Make GEL exchange Rate Volatile

NBG Vice President: Public Expectations Make GEL exchange Rate Volatile

GEL exchange rate volatility was preconditioned by public expectations after importers have intensified activities. Archil Mestvirishvili, National Bank vice president: We have noted that Georgia has set floating exchange regime, which is accompanied by market fluctuations. As to the factors affecting exchange rate, we have made comments on the issue …

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Nonresidents Could Purchase Corporate Securities From 2018

Starting 2018 nonresidents will be able to purchase corporate securities. Archil Mestvirishvili, vice president of National Bank of Georgia (NBG), noted that, currently, state GEL-denominated securities represent a most-developed segment. Jointly with the stock exchange, the system is being developed to the direction of corporate bonds, he said. “Currently, we have …

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Two New Members are in the Supervisory Board of NBG

Two New Members are in the Supervisory Board of NBG

The parliament has approved three members in the Supervisory Board of NBG. Murtaz Kikoria, Archil Mestvirishvili and Robert Singletar are elected for 7-year term in the Board. The famous banker, Murtaz Kikoria returns to NBG from Bank of Georgia, where he has been occupying position of General Director, as for …

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National Bank: Banning Taking Small Loans in USD Would Not Increase Interest Rate

Low dollarization interests everyone, including population, government, investors, commercial banks and other players of financial sector, Vice President of National Bank of Georgia, Archil Mestvirishvili said. We have worked out 10-point plan, which focuses on three main directions: First is increasing Lari lending affordability which implies long term loans, and …

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Kumsishvili: We Do Not Manipulate with Expectations of Currency

Kumsishvili: We Do Not Manipulate with Expectations of Currency

GEL rate remains a hot topic. Minister of Economy has recalled sharp devaluation of national currency (11%) through the last two weeks afresh and noted, that to make a comment on the daily change of the rate is incorrect. He called for private individuals and legal entities to conduct the procedures …

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NBG: GEL Was Strengthened More than the Fundamental Factors Conditioned

NBG: GEL Was Strengthened More than the Fundamental Factors Conditioned

Vice-President of National Bank of Georgia estimates the recent drop of GEL rate. Archil Mestvirishvili explains, that commenting on instant change of GEL rate is not correct in order to avoid creation of expectations at the market. Manager of NBG names the reasons, which caused fluctuation of GEL rate. “Due to …

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