National Bank of Georgia
| Headquarters | Tbilisi , Georgia |
| founding | 1919 |
| president | Koba Gvenetadze |
| country |
 Georgia
|
| currency | |
| ISO 4217 | GEL |
| Website | |
| predecessor | |
| List of central banks | |
The National Bank of Georgia ( Georgian საქართველოს ეროვნული ბანკი , Sakartvelos Erovnuli Bank'i ) is the central bank of Georgia . It was originally founded in 1919 and has existed in its current form since Georgia gained independence from the Soviet Union in 1991. The bank is based in the capital Tbilisi . According to the Georgian constitution, the national bank is responsible for price stability in the country.
history
The National Bank was first established in 1919 as the central bank of the first short-lived republic in Georgia, before being dissolved on February 25, 1921 after the Communists came to power . After independence in 1991, the bank was re-established and received its first governor since 1921 in October of the same year.
However, the establishment of the National Bank had some weaknesses, as the independence of the National Bank was not explicitly enshrined in the laws, which resulted in the President and Parliament having a strong influence on the business of the National Bank. In addition, the activities of the National Bank were not explicitly recorded. On the one hand, the National Bank was tasked with stabilizing the price level, and on the other hand with stimulating the domestic economy. According to the National Bank, this contradiction meant that no effective currency strategies could be established.
It was not until April 1993 that Georgia switched from the ruble to its own currency, the lari, when Russia stopped supplying Georgia with the ruble. As of May 25, 1994, banks in Georgia received new requirements for the statutory capital, which led to a gradually increasing capitalization in the Georgian banking sector.
In its current form, the National Bank is only responsible to the Georgian Parliament .
President of the National Bank
- Note: Names of Presidents in English transcription
| president | Term of office |
|---|---|
| Gia Topuria | October 1991 - January 1992 |
| Vazha Djindjikhadze | January 1992 - March 1992 |
| Nodar Kakulia | April 1992 - November 1992 |
| Demur Dvalishvili | November 1992 - October 1993 |
| Nodar Javakhishvili | October 1993 - March 1998 |
| Irakli Managadze | March 1998 - March 2005 |
| Roman Gotsiridze | March 2005 - October 2007 |
| David Amaglobeli | October 2007 - February 2009 |
| Giorgi Kadagidze | February 2009 - February 2016 |
| Koba Gvenetadze | since March 2016 |
Web links
- Official website (Georgian, English)
Individual evidence
- ^ Constitution of Georgia
- ↑ a b c d History of the National Bank of Georgia , article on the National Bank of Georgia website, accessed May 22, 2019