On September 19-20, 2022, Koba Gvenetadze, Governor of the National Bank of Georgia, participated in the high-ranking symposium "Finance and Money in a New Macro and Technology Environment" organized by the Bretton Woods Committee and the Central Bank of Armenia in Dilijan, Armenia.
At the symposium, the participants talked about the possibilities of using new technologies in various fields, having become especially relevant for financial and payment services in the post-pandemic era.
In addition, the discussion covered the importance of digital currency, which will help both improved access to finance and related regulatory and political challenges, as well as expedite sustainable economic stability and inclusive growth.
Koba Gvenetadze spoke in detail about new technologies and monetary policy framework. He focused on the actions taken by the National Bank of Georgia for introducing digital currency. In addition, the NBG Governor noted that when talking about digital currency, it is necessary to consider both the benefits and the challenges that will follow the digitization of the currency. "Interest rates in the economy may be better controlled, since interest-bearing CBDC will strengthen transmission of policy rate changes into all sorts of market interest rates. This may be important especially in countries like Georgia, where monetary policy transmission is not as strong as in developed economies," - said Koba Gvenetadze.
The event enjoyed the involvement of the representatives of Central Banks and Governments of different countries, private sector and other financial institutions, from the academic and scientific circle.
