On September 23, the delegation from the Reserve Bank of Malawi visited the National Bank of Georgia on the recommendation of the American Company “Montran”. The goal of the visit is getting to know the latest reforms implemented in the National Bank of Georgia.

A subject of a particular interest is the firsthand acquaintance with the high-tech payment systems, which allow financial institutions to perform transfers quickly and safely. Georgian colleagues will provide the guests with the information on the implementation of the Georgian Payment and Securities Settlement (GPSS) System. Also, the guests will learn about the advantages of Real-Time Gross Settlement (RTGS) system. Meetings are planned with the Payment, Financial Markets and IT departments of the National Bank of Georgia.

“Today colleagues from the Reserve Bank of Malawi have visited us to familiarize with the reforms and systems, introduced recently by us. We are glad to share experience with our colleagues and this information will be useful for them”- said the Executive Director of the National Bank of Georgia, Giorgi Melashvili

During the last two years delegations from Afghanistan, Moldova, Kirgizstan, Tajikistan, Botswana, Suriname and Ethiopia Central Banks have visited the National Bank of Georgia in order to share experience. Most of them visited Georgia upon the recommendation of the World Bank.

Malawi is east African state. It is bordered by Zambia to the west, Tanzania to the north, and Mozambique on the southeast. The economy of Malawi is predominantly agricultural. Agriculture accounts for 35% of GDP and 90% of export revenues. Its most important export products are tobacco, tea, cotton, coffee and sugar. GDP growth was 9.7% in 2008. Since May 2012 the government implemented strict macroeconomic and structural reforms in order to improve the state of the economy in the country.