About Civil.ge
Eng | Geo | Rus
Last updated: 14:23 - 24 Sep.'16
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
24 Sep.'16 14:23
Ivanishvili Meets Businesspeople
He asked them scoldingly if they were “doing enough to explain” to voters positive trends in the country.
23 Sep.'16 14:38
Wizz Air Opens Base in Kutaisi, Launches 7 New Routes
Low-cost airline operator has based one of its new Airbus A320 aircraft at the Kutaisi airport.
22 Sep.'16 19:16
Georgia Charges its Ex-Deputy Interior Minister, Who is Now Chief of Police in Odessa
Charges relate to May, 2011 break up of anti-government protest rally in Tbilisi.
22 Sep.'16 13:55
PM Addresses UN General Assembly
He outlined govt’s 4-point plan, vowed to hold fair elections, condemned “Moscow’s annexation policy.”
21 Sep.'16 23:10
Abkhaz Leader’s Office Comments on Ex-FM Chirikba
Khajimba’s office said Chirikba “was not re-appointed” as FM because of his refusal to travel to Transnistria.
21 Sep.'16 13:57
Foreign Minister of Breakaway Abkhazia Resigns
Viacheslav Chirikba cited unspecified “existing circumstances” as reason behind the decision.
20 Sep.'16 18:07
CEC to Open 56 Overseas Polling Stations
Precincts will be opened in 48 cities of 41 countries for the October 8 parliamentary elections.
20 Sep.'16 14:47
Supreme Court Picks New Judge for Constitutional Court
Temur Tugushi will replace Otar Sichinava, whose 10-year term expires by the end of this month.
20 Sep.'16 10:38
Georgia’s PM Address UN Refugee Summit
He said “gravity of the situation” requires int’l community’s proactive and coordinated response.
19 Sep.'16 14:26
Burchuladze Hits Back at Ivanishvili, Calling him a ‘Liar’
“Georgia is governed not by the government, but by informal ruler,” leader of the State for People said.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
35