Koba Gvenetadze elected member of the National Bank Board

Published in Economics
Thursday, 03 March 2016 17:03

81 votes for against 0, Koba Gvenetadze has been elected member of the National Bank Board. The vote ended a few minutes ago. Koba Gvenetadze was in Parliament with his Advisor.
The assessments have being made throughout the day. The majority of deputies focused on his professionalism. According to them, his candidate was one of the best. 

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  • The President of Georgia Meets with the President and the Board Member Candidates of the National Bank

    The President of Georgia, H.E. Giorgi Margvelashvili has held a meeting with the President of the National Bank of Georgia, Mr. Koba Gvenetadze and the National Bank board member candidates.
    At the meeting, the candidates have presented their future plans to the President. After careful consideration of the candidates, the President has made a decision to present the following candidates, Mr. Archil Mestvrishvili, Mr. Murtaz Kikoria, and Mr. Robert Singletary to the Parliament.

  • Giorgi Kvirikashvili commented on the statement by Giorgi Papuashvili

    Georgian Prime Minister Giorgi Kvirikashvili commented on the recent statement by the Chair of the Constitutional Court. The Prime Minister, according to his statement to the press, had a phone conversation with Giorgi Papuashvili whom he urged to submit all information in his possession to the Office of the Chief Prosecutor. 
    "I will abstain from political assessment. I will only say that, in just an hour after this statement, I contacted Giorgi Papuashvili and suggested he provide all information in his possession to the Office of the Chief Prosecutor as soon as possible. I also spoke with the Chief Prosecutor, and they are ready to take a statement. It would be prudent for everyone with any grievances involving this matter to turn to the Prosecutor's Office," Giorgi Kvirikashvili stated.
    In his conversation with the press, Prime Minister also commented on the statement of the President of the National Bank and indicated that he shares Koba Gvenetadze's view concerning dedolarization.
    "I agree with the statement of Koba Gvenetadze concerning the fact that dedolarization has no alternative - this will ultimately lead to the increasing confidence in the national currency. Multidimensional steps shall be taken. For this purpose, bonds denominated in national currency are emitted in collaboration with the international financial institutions. Furthermore, planned long-term economic programs are aimed at improvement of the country's balance of payment. This will limit country's dependence solely upon money transfers and articles that may be vulnerable during economic crisis. Hence, through long-term and complex measures we will attain strengthening durable confidence in national currency. Pension reform that is scheduled in 2017 will further assist this process," - Prime Minister stated.

  • Georgian Lari should be priority for us-Nodar Khaduri

    I absolutely agree with the President of the National Bank Georgian GEL should be priority for the currency for US- the Minister of Finance Nodar Khaduri said after commenting of the statement of the National Bank of Georgia, Koba Gventadze.
    According to Gvenetadze, residents have to get used to live without the US dollar and the national currency should be a priority for Georgians. The main challenge is to restore confidence of Georgian Gel. 

  • "Online Credits issue should be discussed,"-Koba Gvenetadze

    According to the President of the National Bank of Georgia, Koba Gvenetadze, the online credit issue should be discussed. As he said at the press conference today, the government should decide who should be monitor online credits.
    “This is the issue which should be discussed. These companies aren’t the segment which is controlled by the National Bank. The practice is different in different countries. We should defend the interests of the customers. Online credits should not worsen the economical situation,”-Koba Gvenetadze said. 

  • The Budget and Finance Committee supported the candidacy of Koba Gvenetadze

    The Committee heard the Parliamentary Secretary of the President, Giorgi Kverenchkhiladze, introducing the biographic data and labor experience of the candidate, and the candidate himself.
    Koba Gvenetadze spoke about the role of the Bank in economic development, fiscal and monetary policy and his future activity if elected. He spoke about GEL rate increase, protection of consumers’ rights and complex measures in these directions. Communication problem is as well noteworthy, affecting the economic activities and impacting inflation. He answered the questions.
    The Chair, Tamaz Mechiauri asked about his opinion on separation of supervision function from the Bank. He accented practices in various countries and noted that “according to the recent experience, developed upon 2008 world crisis, the direction is that supervisory service and the National Bank shall be united, though all other models have the right to exist”. 7 MPs participated in secret ballot and 6 voted for.
    The Committee considered the drafts on: Criminal Code of Practice; Civil Code of Practice; Administrative Code of Practice; State Tax, introduced by the Deputy-Justice Minister, Gocha Lortkipanidze. The drafts aim at elimination of impediments for implementation of UN Committee orders by Georgia and establishment of effective mechanism for implementation. No mechanism currently exists granting the legal basis to the Court to consider the claim on monetary compensation of the persons, towards whom UN Human Rights Committee decision exists on civil and political rights concerning violation of 1966 international treaty and/or compensation by the state in order to provide them with effective legal protection mechanism. There is no legal basis for enforcement of other Committee decisions as well. Thus, there is need to provide the Court in Georgia with authority to consider the claims of these persons.
    Gocha Lortkipanidze: “The persons, towards whom the UN Human Rights Committee has made the decision prior to enactment of the changes (or prior to establishment of mechanism necessary for enforcement of UN Committee decisions) on compensation by the state, will be authorized to, on the basis of the Committee decision, appeal to the Court for monetary compensation in line with the general rule under the Administrative Code of Practice”. The Committee supported the drafts.

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