The bank’s new publication - The National Bank of Georgia, main directions and functions- has been presented at the National Bank of Georgia.

The bank’s new publication - The National Bank of Georgia, main directions and functions- has been presented at the National Bank of Georgia.

11 June, 2008

Presentation of the thematic edition "National Bank of Georgia, Main Directions and Functions" was held at the National Bank of Georgia. Functions and tasks defined by the banking legislation of the country are reviewed in this edition.

"National Bank of Georgia plays the key role in the economic development of the country. Stable central bank and its proper functioning is the guarantee of stable and sound development of the country's economy. Presented publication will help the public to have the exact and exhaustive information about today's National Bank and its activities", - Declared David Amaglobeli, the Acting President of the National Bank of Georgia.

Edition is aimed at the wide spectrum of the society and briefly depicts the history of money circulation throughout the world, history of the central bank in Georgia, organization, management and tasks of the National Bank of Georgia. It gives the detailed description of main functions of NBG. The essence of the inflation, its factors, importance of price stability for the long-term development of the country's economy and the role of the National Bank are also explained in this edition.

History of the central bank in Georgia began 90 years ago. On December 31, 1919 Constituent Meeting of the Democratic Republic of Georgia adopted the Decree "On Establishing the State Bank of Georgia". In 1919 the first Chairman of the central bank of Democratic Georgia, Jason Lortkipanidze, declared that the central bank in Georgia should be not only the main, but also the sole regulator of money circulation in Georgia. Today the main task of the National Bank of Georgia is to promote the price stability as well as the stability and transparency of the financial system and facilitate the stable economic growth.

National Bank of Georgia carries out many important functions like: elaboration of monetary policy and its implementation; promotion of financial stability; conducting the exchange rate policy; management of the country's international reserves; supplying the economy with monetary units; management and operation of payment systems and other.

Definitions of main terms as well as the information about the periodic editions and the head office building of NBG are also given in this edition.

2000 copies of the edition "National Bank of Georgia, Main Directions and Functions" have been printed. The authors of this publication are NBG experts.

Edition will be spread throughout the educational establishments and libraries of the economic profile of Georgia. Electronic version of the edition will be placed at NBG official web-site.