On 19-20 October, 2011 the National Bank of Georgia and the European Bank of Reconstruction and Development  are holding a joint conference on Risk Management  at the Tbilisi Marriot Hotel. This is the first time a conference of this format and scope is held in Georgia and is attended by the financial representatives of functioning Georgian banks’ and big companies. 

In the financial sector correct assessment of risks and definition of relevant risk aversion mechanisms and strategy is of great importance to be further asserted by the global financial crisis.

A presentation over risk management will be made by the representatives of the National Bank of Georgia and an analyst of the rating company Moodys. 

A special attention during the meeting was paid on the importance of currency exchange rate. The participants are discussing practical as well as theoretical issues of risk management and they will be given full information over the instruments offered by the National Bank of Georgia for liquidity management and become introduced to the financial derivatives available on the market.

"The meeting is about risk management as a part of the global risk management goal and the financial market development. It is important for financial market development that market participants are aware of the action the National Bank is taking and the instruments involved as well as have adequate knowledge how to use these instruments. The conference today covers the topics mentioned above and we will make presentations about the promises we give and the actions taken,” Vice–President of the National Bank of Georgia, Archil Mestviriashvili stated.

The National Bank of Georgia is taking substantive measures regarding the development of the monetary and state stock markets. A considerable progress has been made in this direction during the previous periods. However, it is essential that both financial and nonfinancial sectors have increased awareness over financial market and risk management to ensure still further development.