Georgia hosts the Fourth Regional Forum on Investment Management of Foreign Exchange Reserves for the First Time

On November 19-21, Fourth Regional Forum on Investment Management of Foreign Exchange Reserves will be held in Radisson Hotel; the event is organized by NBG and Asian Development Bank. Such forum is held in Caucasus region for the first time and its key goal is sharing knowledge and practical experience between financial experts of different countries, discussion of trends and processes on global financial markets and their analysis in different contexts. Members of the forum will discuss challenges of central banks globally, on the background of current financial crisis. Special attention will be paid to management of international reserves in terms of low and negative interest rate.  
 
Archil Mestvirishvili, Vice-Governor of NBG and Thierry de Longuemar, Vice-President of Asian Development Bank opened the regional forum on Foreign Exchange Reserves Management.

“Global Forum on Reserves Management is holding in Georgia for the first time. It is good opportunity to share our experience with other central banks and to learn from them too. The National Bank of Georgia has carried out many successful reforms including reforms in reserves management. We have implemented innovations in all directions of reserves management including information technologies direction; we have implemented also the new instruments and moved to modern methods of management of reserves. The big challenge in reserves management is the zero interest rates in the world and the negative interest rate in case of Euro. It is the challenge not only for Georgia but also for all central banks in the word. We try to share our experience with each other, how we can manage our reserves in these terms in order to receive maximum profit and to remain to the principles such as security and liquidity” – Archil Mestvirishvili, Vice-Governor of the NBG stated.

“We are hosting the regional forum on reserves management together with the National Bank of Georgia and I think that it is important to us to hold the forum in Georgia. Georgia is a developing country therefore it is good opportunity when other central banks from developing countries are able to learn how to manage reserves. I think that the foreign exchange reserves are managed professionally in the National Bank. The one of the challenges is to be able to attract people with good skills who will manage reserves properly” – Mr.Thierry de Longuemar, Vice-President of the ADB stated.

Along with speakers from different central banks and international organizations the NBG employees will share their theoretical and practical experience accumulated over the years with the forum participants.  

Forum is attended by more than 70 middle and top management members of central banks and Ministries of Finance from 30 different countries including UK, Turkey, Israel, Korea, Romania, Indonesia, Bangladesh, Kirgizstan and Thailand       
 
Besides management of monetary reserves, participants will also discuss other important directions, such as governance in reserve management, automation of investment processes, risk management, government debt issuance, best practice in engaging external service providers and asset allocation.