The Parliament considered the candidates for three members of the Board of the National Bank

Published in Politics
Thursday, 01 December 2016 13:00

The Sector Economy and Economic Policy and the Budget and Finance Committees discussed the candidates for three members of the Board of the National Bank.
The President of Georgia has nominated Archil Mestvirishvili, Murtaz Kikoria and Robert Hendry Singleter Jr. to the positions due to expiration of the term of three members of the Board. The Deputy-Parliamentary Secretary of the President, Zurab Macharadze introduced the biographic data and working experience of the candidates.
MPs heard the candidates introducing their views and approaches. The main challenge for the NB and the country was named to be reduction of dollarization. “It is a complex issue and the National Bank powerless here. NB, the Government and financial sector are all involved in the issue as reduction of dollarization would be beneficial for everyone”, - A. Mestvirishvili noted. We have the plan of 10 points, which is one of the most important step forward to once and forever defeat dollarization problem. “It is not an easily solvable problem. It requires efforts and concentration of us all and we, the NB, as one of the leading bodies, will be involved in the issue”.
M. Kikoria named protection of consumers’ rights as another challenge. “In this term, we shall enhance the normative base and establish the principles to ensure stability of the sector”. According to R. Hendry Singleter Jr., protection of the population is possible through establishing the upper ceiling on interest rates. The state shall establish the higher limit for interest rates of the loans issued by the online loan and micro-financial organizations. “In my opinion, the state shall make effective steps and shall establish the upper ceiling of interest rates for the loans. The population has no financial knowledge and information unable to see the essence of the problem. Hence, their protection is possible with establishment of upper ceiling of interest rates”. 
The candidates answered the questions concerning development of stock exchanges, upper ceiling of interest rates of the loans by online loans and micro-financial organizations , regulation of financial sector and involvement of banks in non-profile activity. MPs, with majority of votes through secret ballot, supported the candidates. Minority refused to participate in ballot as plans to consider the candidacies.

Read 755 times

Related items

  • The Embassy of Switzerland welcomes the adoption of the constitutional amendments

    The Embassy of Switzerland in Georgia welcomes the adoption of the constitutional amendments and trusts that the new electoral system will increase the representation of the different layers of society, including the minorities, within the new Parliament. Switzerland will assist Georgia to set up a fair and transparent electoral campaign, based on mutual respect and constructive compromise, and calls on all political actors and media to refrain from personal attacks, including against the members of the diplomatic corps.

  • 4,000 Recovered COVID-19 Church Members in South Korea Declare Donation of $83 Billion Worth Plasma for Cure

    A South Korea-based religious group named the Shincheonji Church of Jesus said that over 4,000 members of the church recovered from COVID-19 are willing to donate plasma for developing a new treatment.

    The amount of blood will be about $83 billion worth if the 4,000 patients donate 500ml individually, according to the current transaction in the United States. “It is difficult to accelerate developing a medicine for COVID-19 with only 200 recovered patients who expressed their will to donate blood. The massive donation from the recovered patients in the Shincheonji Church will solve the problem of the lack of blood for research,” said an official from Green Cross Pharma, a biopharmaceutical company in South Korea.

    For the first quarter of this year, the rapid virus spread hit the church members in Daegu of South Korea, where the early signs of the crisis appeared with the controversy over the massive visitors from China before the infection of church members.

    Mr. Man Hee Lee, founder of the Shincheonji Church, said that members of the church are advised to donate plasma voluntarily. “As Jesus sacrificed himself with his blood for life, we hope that the blood of people can bring positive effects on overcoming the current situation,” said Mr. Lee.

    “We had a discussion with the health authorities and tried to establish a plan with details for donation. Some of the recovered members have already donated individually, feeling thankful for the assistance from the government and medical teams. They expressed their will to make contribution to the society,” said an official in the church.

    Some local governments in South Korea recently brought lawsuits against the church with allegations that the church did not cooperate with the authorities by not submitting the full list of church facilities and members. 

    “No evidence has been found that Shincheonji supplied missing or altered lists. And there were only minor differences,” said Kim Kang-lip, vice-minister of Health. Academic researches on Shincheonji and COVID-19 stated that the church “provided the list of its South Korean members six days after it was requested” and “it was initially unclear whether shut down facilities and properties should be included” when the government asked for the lists of real estate.

    (Shincheonji and Coronavirus in South Korea: Sorting Fact from Fiction - A White Paper https://www.eupoliticalreport.eu/covid-19-and-the-shincheonji-church-in-south-korea-a-white-paper-reveals-the-truth/)

    A Shincheonji media coordinator said the church will cooperate fully with investigations from government agencies.

    South Korea reported 12,535 confirmed cases and 281 deaths from COVID-19.

    Press Release of the HWPL

  • Azerbaijan celebrates Republic Day: Relying on the roots and confidently looking to the future

    Republic Day is a significant date in the life of Azerbaijan. On May 28, 1918, the Declaration of Independence of Azerbaijan was proclaimed in the historical Viceroy’s Palace in that time Tiflis. Thus, the centuries-old tradition of statehood of the Azerbaijani people was revived in a new form of secular democratic republic. Becoming the first republic in the Muslim East, Azerbaijan affirmed the equal rights of all its citizens, regardless of gender, religious, ethnic or social affiliation. In the country, earlier than among many leading European nations, women's suffrage was guaranteed. All ethnic groups were represented in the Parliament of the Azerbaijan Democratic Republic (ADR).

    Noteworthy is such an important circumstance as – ADR closely coordinated its efforts in the foreign policy arena with the Georgian Democratic Republic. So, in 1919, our countries concluded a defensive pact against the common threat posed by Denikin’s troops. The independence of both states was de facto recognized by the Supreme Council of the Allied Powers under a decision of January 11, 1920. It is truly symbolic that the sketch of the ADR coat of arms, taken as the basis of the current coat of arms of the Republic of Azerbaijan, was proposed by Prince Alexander Shervashidze, who was then in Baku.

    Alas, that time global political situation did not allow Azerbaijan to maintain its independence. In April 1920, Baku was occupied by the Red Army. And less than a year later, the Georgian Democratic Republic fell under the blows of the Bolsheviks. All this once again demonstrated that the destinies of our countries are intertwined with history. The successes of one lead to the good of the other. And vice versa, the trouble of one is reflected in the next.

    Being a part of the USSR, Azerbaijan also strove to develop friendly contacts with Georgia; outstanding representatives of the intelligentsia of both countries were connected by warm and close relations. Our peoples continued to crave for each other. The crown of this cooperation was the friendship between the leaders of the republics – Heydar Aliyev and Eduard Shevardnadze, whose activities laid the foundations for the restoration of the countries’ independence.

    Returning to the leadership in Azerbaijan after the collapse of the Soviet Union and taking the country away from the edge of the abyss in 1993, Heydar Aliyev began to systematically strengthen the foundations of statehood. He became a true architect of the today’s Republic of Azerbaijan, identifying key areas and a strategy for its development. It is no coincidence that the main export pipeline Baku-Tbilisi-Ceyhan, the construction of which through the territory of Georgia became the triumph of Heydar Aliyev’s oil diplomacy, is inextricably linked with his name.

    Relying on the strong foundation of modern effective statehood, the Republic of Azerbaijan, under the leadership of President Ilham Aliyev, has developed successes in all areas: reducing poverty from almost 45% in 2003 to less than 5% by now, developing social infrastructure, technological modernization, stimulating the non-oil sector, ensuring dynamic stability within the country and strengthening its prestige in the international arena. In this connection, it’s enough to recall at least such momentous events as the election of Azerbaijan as a non-permanent member of the UN Security Council from a group of Eastern European states for 2012-2013 and the country's chairmanship in the Non-Aligned Movement, uniting 120 states, which began in 2019.

    Azerbaijan is successfully building up cooperation in all significant vectors: from the European Union to the countries of the Asia-Pacific region, from the Organization of Islamic Cooperation to the Council of Europe, from NATO to UNESCO, etc. Of course, the strengthening of strategic partnership with neighboring countries occupies a special place in the system of priorities, and among them Georgia traditionally plays the role of our closest good neighbor, whose brotherhood has passed the test of the long history and the collisions of the present stage.

    Our countries, like a hundred years ago, continue to coordinate their activities, invariably provide mutual support to each other's sovereignty and territorial integrity. Like a hundred years ago, we have similar problems, we feel common pain. One fifth of the internationally recognized territory of Azerbaijan is under occupation. A fifth of Georgia’s territory has also been occupied.

    The people and the state of Azerbaijan are determined to restore international law and justice, to ensure the violated rights of hundreds of thousands of internally displaced persons who have been subjected to ethnic cleansing in their own country and forcibly expelled from their homes. Strengthening the Azerbaijani state’s power significantly increased the ability to assert its rights and eliminate the consequences of the illegal use of force against it. And everyone can be sure that the success of Azerbaijan in this direction will create conditions for improving the situation in the region as a whole.

    Today, celebrating Republic Day, the Azerbaijani people rely on their own strengths and actively use the potential of international cooperation. We are convinced that only by developing a mutually beneficial partnership it’s possible to confidently continue forwarding on the path of progress and prosperity. In its turn, the progress and prosperity of Azerbaijan will always benefit its good neighbors and Georgia, of course, in the first instance.

    Press Service of the Embassy

    of the Republic of Azerbaijan in Georgia

  • Archil Talakvadze elected Chairman of Parliament

    Archil Talakvadze, Leader of the Parliamentary Majority has been elected Chairman of the Georgian Parliament. The 94 MPs voted for Talakvadze’s election on the post and 1 – against.

    The 101 lawmakers underwent registration for the balloting. MPs of the National Movement and European Georgia parties did not participate in the voting process.

    Archil Talakvadze replaced Irakli Kobakhidze on the post of Chairman of Parliament. Kobakhidze quit the post several days ago amid protests after Russian MP Sergey Gavrilov took the seat in the Georgian parliament.

    Talakvadze served as Deputy Minister of Internal Affairs in 2014-2016. He was Deputy Minister of Penitentiary, Probation and Legal Assistance in 2012-2014.

  • PACE President, addressing parliament, congratulates Georgia on 20 years of solid progress

    Speaking at the solemn ceremony to mark Georgia’s 20 years as a member of the Council of Europe, Liliane Maury Pasquier, President of the Parliamentary Assembly of the Council of Europe (PACE), congratulated the country for having progressed far along the path of democracy, human rights and the rule of law.

    “Georgia’s accession to the Council of Europe 20 years ago was a major step in consolidating democratic institutions and a huge boost for reforms in several important areas. I highly congratulate Georgia for the significant progress made over 20 years: it is a more stable Georgia, based on strong democratic institutions, that is preparing to chair the Committee of Ministers of the Council of Europe from November 2019 to May 2020,” said the President.

    Ms Maury Pasquier welcomed, in particular, the significant progress made in a number of key areas, including the fight against corruption, reform of the judiciary and the smooth functioning of Parliament. She emphasised that this progress was made possible thanks to the political will and constant efforts of all Georgia’s institutions and political players, along with input from Council of Europe bodies and experts.

    “I am proud that Council of Europe bodies and institutions – including the Venice Commission, the Human Rights Commissioner, GRECO and also our Assembly – have been associated with the most important reforms in order to provide the most appropriate expertise. I am sure that this close co-operation will be further strengthened over the next 20 years, and that Georgia will continue to take advantage of our expertise and put our recommendations into action, and that the Council of Europe will continue to benefit from Georgia’s experience and achievements,” she said.

    “Georgia now needs to preserve and further develop this democratic acquis, and I am sure that, with the support of the Council of Europe, it will be able to meet the remaining challenges and continue to make progress. In the same way, I hope that with Georgia’s support and input into our organisation, we will also be able to meet the challenges we face,” she concluded.

    During her working visit to Georgia, Ms Maury Pasquier met with the Speaker of the Georgian Parliament Irakli Kobakhidze, President Salome Zourabichvili, Prime Minister Mamuka Bakhtadze, Foreign Minister David Zalkaliani and the members of the Georgian delegation to the Parliamentary Assembly.

Business News

The capital budget proposed 1 800 000 will be saved

The capital budget proposed 1 800 000 will be saved

City government 2015 budget amendments. It was presented by Mayor David Narmania said the budget ame...

Railway station to be opened in Batumi

Railway station to be opened in Batumi

Construction of a railway station started many years ago but terminated shortly after will come to a...

Prime Minister meets with businesspersons in Kakheti

Prime Minister meets with businesspersons in Kakheti

Georgia’s Prime Minister Irakli Gharibashvili visited eastern Kakheti region within the framework of...

The Official Value of Dollar – 2.2533 GELS

The Official Value of Dollar – 2.2533 GELS

The official value of US Dollar reached 2.2533 GEL (Lari). National Bank of Georgia set the official...

MOST READ

« October 2020 »
Mon Tue Wed Thu Fri Sat Sun
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media