“The President of the National Bank shall abstain from political statements”, - Z. Tkemaladze echoed the statement by the President of the National Bank regarding the currency rate. According to Z. Tkemaladze, the Bank President has taken two drastically different positions during one year regarding the fluctuation of the national currency. This fact rises questions. “In the end of 2013, G. Kadagidze stated that he started consumption of the reserves and implemented intervention in order to prevent development of speculations. Drastically different position he expressed in the end of 2014 when stating that he was not going to intervene as it might facilitate to speculations. These to different positions took place in one year and I consider that it was wrong”.

The fact is noteworthy that simultaneously to the yesterday’s statement by G. Kadagidze, despite of the official GEL rate 2.30, the currency exchange booths increased it with 4 points. Variation of GEL rate took place simultaneously with sundry events – endorsement of the Government, consideration of the changes to the law on the National Bank and veto on the adopted draft. “After that, GEL rate somehow became stabile, though the statement by G. Kadagidze made yesterday entailed some changes in rate and caused panic in society”. The current economic situation does not give ground for currency changes. “Import is reduced, tourist number is increased and the objective reasons to devaluate GEL were absent if not the statement by G. Kadagidze”.

He also spoke about refinancing loans and interest rate growth thereon and noted that he is for growth of interest rate which took place yesterday and it was even belated. The National Bank often appeals as if the IFIs give positive evaluation to the Bank activity, though there are the documents by the IMF, offering the Bank to set up the Financial Stability Committee, recommending to publish financial stability reports which have been terminated since 2012.