Chairman, National Bank David Amaglobeli of Georgia
Job cutsare a result of the banks reorganization, which was as a result of alegislative amendment passed byParliament in March, NBG acting President David Amaglobeli said on June 30.
Amaglobeli is not the person who will be at risk when the bill passes, as new bank president must be elected soon.
The National Bank of Georgias monetary and currency policy outline for 2008 targets inflation of eight percent next year, the acting head of the central bank, David Amaglobeli said on November 19 at a meeting of the parliamentary finance and budget committee.
Amaglobeli said Georgia's gross domestic product (GDP) will increase by a mere 4-5 percent this year compared with 12.
5 percent in 2008 but Amaglobeli said the forecast was too pessimistic.
Amaglobeli said $350 million of the IMF loan package will be available to the central bank this year to boost its forex reserves, at $1.
Amaglobeli said the central bank would continue its forex interventions to keep the lari rate stable.
4 percent in 2007, Amaglobeli said Aug 21, nine days after President Dmitry Medvedev called off Russia’s military operation.