"Not only me, but many other businessmen have lost confidence in the President of the National Bank," businessman Temur Chkonia told BM.GE about the reasons and consequences of the depreciation of lari.
According to Chkonia, the decisions of the President of the National Bank Koba Gvenetadze are incomprehensible not only in the conditions of the pandemic, but also beyond it.
"In our view, the president of the National Bank is not focused on business development. The NBG has its monetary policy, which does not coincide to the business development. Unfortunately, the President of the NBG is not interested if business has any difficulties. I do not know what his role is in the economy, as the National Bank of Georgia is conducting its own policy, which prevents business development.
I mean, they sometimes increase refinancing rate, sometimes decline, so they create unstable condition in the country. The president of the NBG thinks that they are getting used people to various exchange rates and they try to show that different rates are stable, for instance 1 USD cost 2.80 GEL, but now it costs 3.00 GEL”, Chkonia declares.
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