Georgian National Bank Can Regulate Level of Inflation Ratio: Expert

Business Materials 5 September 2008 17:07 (UTC +04:00)

Georgia, Tbilisi, 5 September / Trend corr. N.Kirtskhalia / Vladimir Papava, the expert on economic issues, believes that the Georgian National Bank has all mechanisms to regulate that big amount of money to be issued by the west will not cause inflation. Level of inflation ratio was high in Georgia untill the war and the National Bank regulates this problem, Papava said.

According to the expert, the International Monetary Fund is prepared to allocate $150mln, which will be transferred to monetary reserves of the National Bank, with the objective to regulate the level of inflation.

It is impossible to raise the economy of Georgia without aid of West, Papava said. "Infrastructure, bridges, buildings and villages were destructed. Solution of this problem is impossible without financial aid of West," the expert said.

The correspondent can be contacted at [email protected]