BAKU, Azerbaijan, August 11
By Tamilla Mammadova – Trend:
The National Bank of Georgia has taken several measures in recent years to reduce dollarization of deposits and loans and thereby manage exchange rate risks, said the source, the press office of the European Commission told Trend.
According to the commission, Georgia’s banking system has generally remained resilient, with sufficient capital and liquidity.
Georgia is doing well in international rankings as regards the business environment, the source added. "It currently ranks 7th out of 190 countries in the World Bank’s "Ease of doing business" index. However, it is ranked much lower on some specific criteria covered by this ranking, such as resolving insolvency, trade barriers and access to electricity," the commission added.
"As a result, according to more recent reports of international institutions such as the IMF, Georgian banks have resisted the economic crisis related to pandemic well. The National Bank of Georgia has relaxed capital requirements and released liquidity buffers to safeguard financial stability," the commission added.
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