The National Bank of Georgia Submits the so-called “Wheat Guarantee” Issue to the Law Enforcement Bodies for Consideration
16 September, 2005
The Council of the National Bank of Georgia considered the so-called “wheat guarantee” issue at the meeting on September 16. On the whole, guarantees in the amount of about USD 25 million were issued by the former management of the National Bank of Georgia in 1996. For today five organizations and companies have partial or complete debts. At present the principal of the debt amounts to USD 10 million. The Council of the National Bank of Georgia heard the information on the process of repayment of the debts and took a decision to submit the so-called “wheat guarantee” issue to the law enforcement bodies for investigation.
It was today that the members of the Council of the National Bank of Georgia heard the information on the process of the performance of the National Bank’s 2005 budget for six months as well as on the amendments to be introduced into it.
Among the issues to be considered was the information on the activity carried out by the financial monitoring service in the first half of the current year. At the end of the meeting the members of the Council discussed the NBG structural optimization program.
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