The European Commission says further progress is needed to strengthen the independence of the National Bank of Georgia (NBG) and bring its governance framework closer to EU standards, according to the 2026 EU Enlargement Report published today.
"The primary objective of the National Bank of Georgia (NBG) is to ensure price stability,
which is in line with the EU monetary policy legislative framework.
In March 2026, implementing legislation was adopted, in line with the IMF recommendations, to reallocate the powers and responsibilities among the Governor, the First Vice-Governor, the Vice Governors, and the Executive Director of the Bank. The respective areas of supervision have also been redefined, and the procedures for appointing the NBG Governor have been enhanced.
However, to strengthen the NBG’s independence in line with the EU acquis, more progress should be done in enhancing board member qualification criteria and by adopting a collegial decision-making model,” the report states.
