Georgia's National Bank may merge with control service

Business Materials 2 June 2009 10:34 (UTC +04:00)

Georgia, Tbilisi, June 1 / Trend , N. Kirtskhalia/

Georgia's National Bank may merge with Control Service, leader of the Christian Democratic Movement Giorgi Tagramadze said after a meeting with the National Bank president.  

He said the meeting focused on a number of issues regarding bank's institutional strengthening and impact of financial crisis on banking.

Tagramadze said the Christian Democrats were interested in the situation in the banking and financial sectors as well as lending problems. The condition of the national currency was currency was also discussed.

The leader of the Christian Democrats said that Georgian lari is not expected to be replaced with foreign currency.

Our goal is to achieve absolute freedom of the National Bank, which will not be under the supervision of the authorities, he said.

He also urged politicians to refrain from statements of sabotage nature.

"Any statement by a politician should be directed to the fact that the banking system will not face problem," Targamadze said.

In turn, the President of the National Bank of Georgi Kadagidze noted that the Bank is actively collaborating with the Budget and Finance Committee of Parliament in order to achieve the institutional strengthening of the bank.

Kadagidze said that he informed Christian Democrats about the reforms, which soon will be implemented in the bank.

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