Koba Gvenetadze, Governor of the National Bank of Georgia, is participating in Future of Central Banking, the international conference dedicated to the 100th anniversary of the Central Bank of Lithuania. The event is attended by the Central Bank Governors of many countries of the world, representatives of Lithuanian authorities, international organizations and academia.

 

The central bank digital currency and decentralized finance were discussed at the conference. It was noted that modern-day technologies offer a much faster and more affordable service as compared to those of traditional banking. The financial system is already undergoing transformation, and the growth of decentralized finance is pushing us towards further phases of evolution. In the modern era of finance, the central banks should expand their supervisory policy to encompass new areas. This will ultimately ensure consumer protection, create a balanced financial system and spark competition, hence creating a sound digital financial environment.

 

 

The conference participants comprehensively reviewed the role of central banks and spoke in detail about monetary, fiscal and macroprudential policies. The underlying global challenges were also given due consideration.

 

During his visit to Lithuania, Koba Gvenetadze met with Gediminas Šimkus, Chairman of the Board of the Bank of Lithuania. The importance of strong support of Lithuania in Georgia's integration into the European Union was underscored at the meeting. The parties additionally discussed the ongoing partnership between the two countries and prospects for enhanced future cooperation.