Vice-Speaker Slams Central Bank Chief

Mikheil Machavariani, the first vice-speaker of Parliament, criticized Davit Amaglobeli, the acting president of the National Bank of Georgia, for what he called “incompetence” after Amaglobeli cited a  legislative amendment for the decision to cut up to 100 jobs.

Amaglobeli said that the legislative amendment passed by Parliament in March had stripped the NBG of its role as overseer of the banking system, and that, he said, “had naturally led to job cuts.”

MP Machavariani, however, said that in parallel to removing some functions from the NBG, a separate body was set up to oversee the banking system, and so, he concluded, the legislative amendment was not the reason behind the job cuts.