Dimitri Kumsishvili, CEO of Paysera Bank Georgia declares, that restoration of the International Monetary Fund program in Georgia is quite important.
Kumsishvili notes that the NBG's statements gives him hope that the central bank will do everything together with other parties to renew the program.
"The existence of the IMF program is quite important for our country. You know that I am in the private sector and I am not involved in this process, according to the National Bank's statmnet, I am sure that the National Bank will do everything together with the other participants to restore the program with the International Monetary Fund", said Dimitri Kumsishvili.
On October 4, the IMF has said that the IMF-supported stand-by arrangement with Georgia is delayed rather than suspended. According to the IMF, the approval of the second review has been delayed due to the IMF’s disapproval of the change in the management structure and the recent decision on amendments to the sanctions regulations of the National Bank of Georgia (NBG).
On September 19, the National Bank of Georgia announced that by the decision of the Bank’s Acting President, international sanctions will not apply to a Georgian citizen who has not been found guilty by a Georgian court. With this change, the National Bank of Georgia reversed its prior decision and restored access to bank assets and the right to carry out financial transactions to Otar Partskhaladze, after he was sanctioned by the United States Treasury Department.
