Ekaterine Mikabadze, First Vice-Governor of the National Bank of Georgia (NBG), participated in the International Public Asset Management Forum (IPAM Forum 2026), hosted by the Central Bank of Uzbekistan in Tashkent.

The forum brought together representatives of central banks, institutions responsible for managing international reserves and public assets, international financial organizations, and leading investment firms.

Ekaterine Mikabadze took part in a panel discussion titled “Strategic Asset Allocation for Sovereign Portfolios,” which focused on the strategic planning of sovereign investment portfolios, asset allocation, diversification, and investment risk management.

The session participants discussed modern approaches to strategic portfolio construction, optimal asset allocation, and risk management, taking into account long-term investment objectives. Alongside Ekaterine Mikabadze, the panel featured Richard Mulley, Managing Director at Goldman Sachs Asset Management; Vincent Crettol, Head of Quantitative Analysis and Multi-Asset Monitoring at the Swiss National Bank; and Cameron McCrimmon, Vice President at J.P. Morgan Asset Management. The session was moderated by Rezart Erindi, Senior Financial Officer and Engagement Manager for the World Bank’s RAMP (Reserve Advisory & Management Partnership).

According to Ekaterine Mikabadze, First Vice-Governor of the NBG, managing central banks’ foreign exchange reserves today involves more than simply balancing security, liquidity, and profitability. Accordingly, approaches to strategic asset allocation have also evolved.

“Given the heightened uncertainty in international markets, economic fragmentation, and geopolitical risks, the National Bank of Georgia has significantly diversified the country’s international reserves as a result of the strategic asset allocation process, in order to ensure their resilience,” said Ekaterine Mikabadze.

The IPAM Forum 2026 also covered trends in global financial markets and international reserve management, sustainable frameworks for managing reserves and public assets, prospects for the development of the global financial architecture, and the role of gold in modern reserve portfolios.

The forum aimed to deepen international dialogue, facilitate the exchange of experience, and strengthen professional cooperation in the field of public asset and international reserve management.