Governor of the National Bank of Georgia (NBG), Natia Turnava, participated in a high-level discussion organized by the International Monetary Fund (IMF) and the World Bank for central bank governors from Central Asia and the Middle East, held as part of the IMF and World Bank Annual Meetings in the United States.

The main topics of the discussion included the challenges of the global economic and financial landscape, existing uncertainties, and preparedness for the future. The session opened with remarks by Andrew Bailey, Governor of the Bank of England and Chair of the Financial Stability Board. Participants were also addressed by Jihad Azour, Director of the IMF’s Middle East and Central Asia Department.

During the discussion, IMF representatives highlighted that Georgia and Armenia have successfully implemented a scenario-based approach to monetary policy communication.

Natia Turnava presented to her colleagues the NBG’s new framework for risk analysis and management within monetary policy and elaborated on the scenario-based approach to monetary communication.

“The NBG regularly prepares analyses of possible economic development scenarios, which allows the institution to plan its policy steps in a timely manner and ensure price stability. This approach enhances the credibility of monetary policy and strengthens the confidence of the business and financial sectors in the NBG, particularly amid external risks and an unpredictable economic environment,” – noted Natia Turnava.

She also commended the IMF for organizing such discussions, emphasizing that they provide an excellent opportunity for central bank governors from different countries to exchange views on how to make their policies more effective in an environment of growing risks and uncertainty.

“Through this platform, we share our experiences with one another, with the active support of the IMF’s regional department,” – she added.

The NBG Governor is participating in the IMF and World Bank Annual Meetings as part of the Georgian delegation, which also includes Minister of Finance Lasha Khutsishvili; NBG Vice Governors Ekaterine Mikabadze and Ekaterine Galdava; Deputy Minister of Finance Ekaterine Guntsadze; and Deputy Minister of Economy and Sustainable Development Vakhtang Tsintsadze.