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1. CHAIRMAN OF CENTER FOR ECONOMIC DEVELOPMENT OPPOSES SEPARATION OF BANKING SUPERVISION FROM NBG
   (Daily News: May 22, 2015)

   Chairman of Center for Economic Development, former president of National Bank of Georgia (NBG) Roman Gotsiridze made a comment on the Parliament’s intention to separate Banking Supervision from NBG (respective initiative was announced in the Parliament).

   “That was already made several years ago, but they had to return it back as effective control of banking system appeared in risk”, Gotsiridze said in the comment, published on his Facebook page.

2. Rezonansi: “ALREADY NOBODY ASKS DOLLAR IN CURRENCY BOOTHS”
   (Economic Press Monitor: May 22, 2015)

   Based on comments of currency exchange offices, the newspaper declares that demand on dollars in Tbilisi significantly decreased. The population expects that lari will become stronger and abstains from purchasing dollars, the article says.

3. KUTAISI FREE INDUSTRIAL ZONE OF “HUALING” OFFICIALLY RECEIVED THE STATUS
   (Daily News: May 20, 2015)

   The document, which officially applies respective status to free industrial zone, being arranged by Chinese Hualing in Kutaisi, was signed in Tbilisi today.

   The company received the mentioned status for 30 years and undertook investment of $40 million in order to provide operation of the zone, Ministry of Economy and Sustainable Development reported.

4. ECONOMY MINISTER: SUPPOSEDLY, STRENGTHENING OF LARI WAS CAUSED BY TOURISM GROWTH
   (Daily News: May 20, 2015)

   Minister of Economy and Sustainable Development Giorgi Kvirikashvili declared that recent strengthening of lari is caused, supposedly, by tourism growth.

   “It is difficult to conduct daily analyze, what specifically caused strengthening of lari, but it is very good that this process has been underway”, the Minister noted.

5. YOUNG FINANCIERS AND BUSINESSMEN ASSOCIATION: THE GOVERNMENT HAS NO REAL LEVERS TO RESIST PRICE GROWTH IN HEALTHCARE
   (Daily News: May 19, 2015)

   Association of Young Financiers and Businessmen declared that “because of lari devaluation against dollar and euro, number of socially unprotected people increases and it becomes more and more difficult to them to receive necessary medicines and medical care”.

   The Association considers that the government has no real levers to resist increase in prices in this sphere.

6. MEMORANDUM SIGNED WITHIN GEORGIA-IRAN JOINT COOPERATION COMMISSION
   (Daily News: May 19, 2015)

   Georgia and Iran signed today memorandum of understanding, which defines directions of future cooperation between two countries.

   In behalf of Georgia, the document was signed by Minister of Economy and Sustainable Development, Vice-Premier Giorgi Kvirikashvili, who was in Iran on a 2-day official visit (May 18-19).

7. Bankebi da Finansebi: “PATARKATSISHVILI’S FAMILY TO PURCHASE “LIBERTY BANK””
   (Economic Press Monitor: May 19, 2015)

   Lado Gurgenidze leaves supervisory council of Liberty Bank at own will ahead of schedule. As new members of the council, Irakli Rukhadze and Giorgi Kalandarishvili are named.

8. LADO GURGENIDZE LEAVES SUPERVISORY COUNCIL OF “LIBERTY BANK”
   (Daily News: May 18, 2015)

   Liberty Bank declared that changes will be carried out in supervisory council of the bank. Namely, the council’s chairman Lado Gurgenidze, whose terms of office expire on December 31, 2015, notified the council that he does not wish to remain in composition of the council any more.

9. “HILTON” OPENED IN BATUMI
   (Daily News: May 18, 2015)

   Today, 247-room hotel Hilton was officially opened in Batumi. According to Georgian government, investments in the project amounted to $137 million.

10. GEORGIAN MINISTERS CONTINUED HOLDING MEETINGS WITHIN EBRD ANNUAL CONFERENCE TODAY
    (Daily News: May 15, 2015)

    Georgian Ministers of Finance Nodar Khaduri and of Economy Giorgi Kvirikashvili held today next working meetings within annual conference of European Bank for Reconstruction and Development (EBRD).

    In particular, they met with vice-president of EBRD, representatives of OPIC, Finance Ministers of Japan and Armenia, Finance and Economy Ministers of Ukraine, Deputy Finance Minister of Albania, International Cooperation Minister of Egypt, Secretary of Latvian Finance Ministry, etc.

11. Tabula: “KVIRIKASHVILI: WE WILL MAKE ADJUSTMENTS TO THE BUDGET AT THE END OF Q2”
    (Economic Press Monitor: May 15, 2015)

    “Making adjustments to the budget will be necessary”, Minister of Economy and Sustainable Development Giorgi Kvirikashvili declared.

    As the Minister says, “Following revised forecast of our economic growth, we will surely make the corresponding adjustments to the budget at the end of the 2^nd quarter”.

12. GEORGIAN OFFICIALS HELD WORKING MEETINGS WITHIN EBRD ANNUAL CONFERENCE
    (Daily News: May 14, 2015)

    Georgian ministers held working meetings within annual conference of EBRD, which was opened today in Tbilisi.

    Namely, Finance Minister Nodar Khaduri met representatives of the US Treasury, delegations of South Korea and Lithuania, while Minister of Economy and Sustainable Development Giorgi Kvirikashvili – delegations of Italy, Switzerland and Finland.

13. THE 24^TH ANNUAL MEETING OF EBRD OPENED IN TBILISI
    (Daily News: May 14, 2015)

    Today, the 24^th annual meeting and business forum of European Bank for Reconstruction and Development (EBRD) were opened in Tbilisi, which will last until May 15.

    Session, dedicated to investment potential of Georgia, took place in former building of the Parliament on Rustaveli Avenue.

14. DEPUTY DIRECTOR OF IMF DEPARTMENT: FLEXIBLE EXCHANGE RATE IS USEFUL TO GEORGIA
    (Daily News: May 14, 2015)

    Within annual meeting and business forum of EBRD, which are started in Tbilisi today, president of National Bank of Georgia (NBG) Giorgi Kadagidze met with deputy director of IMF department for Middle East and Central Asia Juha Kahkonen.

    At the meeting, Kahkonen declared that “flexible exchange rate is useful to Georgia, as for responding to currently existing challenges, as well as for future”.

15. Tabula: “KADAGIDZE: FACTORS INFLUENCING DEPRECIATION OF EXCHANGE RATE ARE SETTLED”
    (Economic Press Monitor: May 14, 2015)

    President of National Bank of Georgia (NBG) Giorgi Kadagidze considers that “factors influencing depreciation of exchange rate are settled”. “We do not expect depreciation of the rate in medium-term period in other equal conditions”, he declares.

16. “THE BANKER” NAMED NBG PRESIDENT THE BEST MANAGING DIRECTOR OF CENTRAL BANK IN EUROPE FOR 2014
    (Daily News: May 13, 2015)

    National Bank of Georgia (NBG) reported that The Banker (magazine of The Financial Times Group) named president of NBG Giorgi Kadagidze as Europe’s best managing director of central bank for 2014.

    Europe editor of The Banker Stefanie Linhardt awarded Kadagidze today, within annual meeting of EBRD and a business forum, which are held in Tbilisi.

17. Tabula: “KVIRIKASHVILI: THERE IS PROBABLY NO BIGGER HEADACHE TODAY, THAN LARI RATE”
    (Economic Press Monitor: May 13, 2015)

    “There is probably no bigger headache today, than lari exchange rate”, Minister of Economy and Sustainable Development Giorgi Kvirikashvili declared. The Minister hopes that “considerable fluctuations will not take place”.

18. YOUNG FINANCIERS AND BUSINESSMEN ASSOCIATION: NBG DOES NOT USE MECHANISMS OF STRENGTHENING OF LARI
    (Daily News: May 11, 2015)

    Giorgi Kapanadze, vice-president of Association of Young Financiers and Businessmen, blamed National Bank of Georgia (NBG) of not use of available mechanisms for strengthening of national currency.

    Besides currency interventions, NBG has at least 5 more levers, which it can use for impact on monetary policy and lari rate, Kapanadze declared at press briefing today.

19. EUROCOMMISSIONER HAHN: GEORGIA, MOLDOVA AND UKRAINE WILL GET GRANT OF 150M EUR
    (Daily News: May 11, 2015)

    European Commissioner Johannes Hahn declared that Georgia, Moldova and Ukraine will get grant of 150 million EUR for fulfillment of liabilities, assumed through Deep and Comprehensive Free Trade Agreement with the EU (DCFTA).

    Hahn reported about it after meeting with Georgia’s President Giorgi Margvelashvili, which held in Brussels today.

20. NBG: FINANCIAL SECTOR AND NBG RECEIVED POSITIVE ASSESSMENT FROM IMF
    (Daily News: May 8, 2015)

    National Bank of Georgia (NBG) reported that assessment mission of IMF, which worked in Georgia in June 2014, positively estimated NBG and financial sector of Georgia.

    Mission of IMF presented report on Financial Sector Assessment Program (FSAP) at the meeting with president of NBG Giorgi Kadagidze today.

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