About Civil.ge
Eng | Geo | Rus
Last updated: 17:27 - 18 Jan.'17
RSS
Mobile
Twitter
Facebook
Parliament Approves New Member of C.Bank Board
Civil Georgia, Tbilisi / 2 Mar.'16 / 19:39

Parliament confirmed on March 2 former International Monetary Fund economist, Koba Gvenetadze, as new member of the central bank board.

Gvenetadze filled a seat in the board of National Bank of Georgia (NBG), which became vacant in late February after expiration of NBG President Giorgi Kadagidze’s seven-year term.

It will be up to seven-member board to pick new president of the central bank among its members, which will then require approval from President Giorgi Margvelashvili.

Gvenetadze was approved by the Parliament with 81 votes.

During parliamentary committee hearings last month, Gvenetadze, whose candidacy was nominated by President Margvelashvili, showed concurrence of his views with most of the current policies pursued by of the central bank. 

Many lawmakers from the GD ruling coalition had remained non-committal on supporting the nomination up until the vote. Senior GD MPs were undecided mostly because of Gvenetadze’s position over financial supervisory agency.

Parliament adopted bill, removing banking supervisory functions from NBG and transferring them to a separate agency, in July 2015 despite of widespread criticism of the move. President Margvelashvili vetoed the bill in late July, but the Parliament overturned it on September 3. But the bill was taken to the Constitutional Court, which suspended its enforcement pending final verdict.

During the parliamentary committee hearings, Gvenetadze indicated that he was more in favor of keeping financial supervisory agency within the central bank rather than removing it.

Before joining IMF in 2002, Gvenetadze served on various posts in the Georgian government; he was Deputy Finance Minister in 2000-2001. 

From early 2008 till late 2009 he served as IMF resident representative in Azerbaijan and he was IMF resident representative in Kyrgyzstan in 2010-2014.

Latest News
18 Jan.'17 17:27
Former Parliamentary Speaker Outlines Political Plans
Davit Usupashvili speaks on achieving “serious success” in the next parliamentary elections.
18 Jan.'17 15:56
Tskhinvali Sets Date for Presidential Polls
Georgia’s breakaway region of South Ossetia will hold presidential elections on April 9.
18 Jan.'17 13:20
Political Ratings in NDI-Commissioned Poll
The ruling Georgian Dream – Democratic Georgia enjoys strongest public support.
17 Jan.'17 18:13
President, Political Parties, CSOs Slam New Transit Deal with Gazprom
President Margvelashvili said that the new terms add “political risks to the country’s energy security.”
17 Jan.'17 16:33
Former, Incumbent UNM Members Form Two Factions in Tbilisi Sakrebulo
UNM members will form a new parliamentary faction in the near future.
17 Jan.'17 14:53
Georgian Minister for Euro-Atlantic Integration Meets NATO Secretary General
Viktor Dolidze will also attend the NATO-Georgia Commission.
17 Jan.'17 13:30
PM to Visit Spain, Switzerland
Kvirikashvili will take part in the International Tourism Fair in Madrid and World Economic Forum in Davos.
17 Jan.'17 13:04
CoE’s Anti-Corruption Group Unveils Report on Georgia
GRECO published an evaluation report on corruption prevention in Georgia.
16 Jan.'17 18:46
Georgia Signs MoU with Top Chinese Company
The memorandum was signed within the One Belt, One Road project.
16 Jan.'17 16:11
NDI-Commissioned Public Opinion Survey
Part of the public opinion poll involving political rankings will be published on Wednesday.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
91