A special group was set up at the National Bank of Georgia (NBG) on October 2 to develop a plan of action to counter the consequences in that could follow a possible ban of money transfers from Russia into Georgia, the NBG said in a statement.
Boris Grizlov, the Chairman of Russia?s lower house of Parliament, Duma Council, said on October 2 that a draft law will be developed authorizing the government to ban money transfers from Russia into Georgia.
According to NBG, the banking system will ?use all means at its disposal not to hamper money transfers between Georgia and Russia.?
At the same time, the NBG warned that a ban of money transfers through international systems will be a blow to Russia?s reputation.
According to the NBG, the largest share (67.5%) of foreign money transfers to Georgia is made from Russia, which reached USD 219 million between January and August of 2006.
-
-
-
-
This post is also available in: ქართული (Georgian) Русский (Russian)