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Georgian National Bank develops strategy to fight inflation

Business Materials 24 January 2011 13:08
The Georgian National Bank has developed a strategy to partially avoid the influence of global inflation on the country, the bank told Trend.

Georgia, Tbilisi, Jan.24 / Trend N. Kirtskhalia /

The Georgian National Bank has developed a strategy to partially avoid the influence of global inflation on the country, the bank told Trend.

According to information, the bank and the government will work to ensure that Georgia is ready to face problems caused by global inflation.

According to Archil Mestvirishvili, the vice president of the bank, the institution started to strengthen its monetary policy six months ago.

"All of the mechanisms are gradually being tightened - monetary policy rates, reserve needs, and potential needs," Mestvirishvili said.

However, he added that certain external factors cannot be influenced by the bank.

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