National Bank Of Georgia Hosts International Forum

On May 4-6, the National Bank of Georgia, with the support of EBRD, hosted an international forum. The main topic was enhancing policy formulation and communication toolkits. Representatives from the central banks of Armenia, Kyrgyzstan and Mongolia participated along with the NBG.

The main purpose of the forum was to enhance monetary policy communication. Participants discussed the case of the NBG and how an IT central bank can cope with an external shock in a small economy. They also discussed monetary policy formulation and policy communication, and talked about the ways how should monetary policy communication be enhanced on the cases of Mongolia and Kyrgyzstan.

"The one of the main priorities of National Bank of Georgia is to inform public about main objectives, monetary policy decisions and the taken measures. For monetary policy efficiency It is very important that inflation expectations are anchored. The right inflation expectations will help the public make long-term business decisions. Our goal is to develop the existing channels of communication and launch new directions of cooperation. Today’s meeting, which was led by high-level specialist is dedicated to this issue,” Archil Mestvirishvili, the NBG's Vice-Governor stated.

Workshop participants attended the NBG’s analyst meeting, which is held regularly and where the May inflation report was presentation by NBG employees.

The forum was organized by the NBG, OGResearch and the EBRD. (nbg.ge)