Georgian National Bank Governor: Georgia’s strong economic position highlighted at Washington meetings

Georgia’s strong economic standing and resilience were consistently emphasised during meetings held in Washington, said on Monday Natia Turnava, the governor of the National Bank of Georgia, summarising her official visit to the United States.

In her remarks, Turnava noted that discussions across all meetings focused primarily on assessing Georgia’s economic strength and resilience.

She described the visit as an intensive week featuring numerous high-level meetings and discussions.

The Georgian delegation included finance minister Lasha Khutsishvili, vice presidents of the National Bank Ekaterine Mikabadze, Ekaterine Galdava, and Nino Jeladze, as well as deputy finance ministers Ekaterine Guntsadze and Giorgi Kakauridze.

During the week-long visit, Turnava and the delegation held meetings with senior officials from the International Monetary Fund, including deputy managing director Bo Li and director of the Middle East and Central Asia Department Jihad Azour, as well as IMF Executive and Alternate Directors.

“First of all, I would highlight the meetings with the leadership of the International Monetary Fund. Regional cooperation was a key topic, and the IMF provides an excellent platform for this”, Turnava said.

She noted that discussions focused on strengthening regional cooperation and the role of the Middle Corridor, which has gained increased importance amid new geopolitical challenges, including tensions involving Iran.

Turnava further added that there was broad recognition of Georgia as a standout country in terms of economic and political stability, investment attractiveness, reformed institutions, transparency, and high-quality infrastructure.

“We are ready to handle additional cargo flows and provide expanded logistics services. Most importantly, Georgia is emerging as a new and growing regional financial hub, which is particularly significant in the context of ongoing tensions in the Middle East. We are confident that many investors will choose Georgia as a base for their operations in the future”, she stated.

As part of the visit, the National Bank President and the finance minister also met with investors from major American financial institutions, including JP Morgan and Bank of America. The meeting brought together representatives of more than 20 global investment groups from the United States, Europe, and Asia.

“We held several important meetings with global investors and investment funds. We discussed Georgia’s current economic situation, challenges, and strengths, and demonstrated why investing in Georgia is attractive. Interest from investors was notably high, which is also reflected in existing investments, including in the financial market. Investor interest continues to grow”, Turnava added.

In addition, within the framework of bilateral cooperation, Turnava met with Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates.

The parties discussed prospects for future cooperation between the two central banks.

“Meeting with my colleague from the UAE is an important step toward strengthening bilateral cooperation, especially in the context of growing economic relations between our countries”, Turnava noted.

During the visit, the National Bank President also participated in a high-level roundtable discussion organized by the IMF, as well as a meeting for central bank governors and finance ministers from the Caucasus and Central Asia region.

From April 13 to 18, Washington hosted the Spring Meetings of the International Monetary Fund and the World Bank, bringing together governors and alternate governors of both institutions, along with central bankers and finance ministers from nearly every country. Discussions covered key global issues, including the outlook for the world economy, poverty reduction, economic development, and financial stability.