Central Bank President Appointed

The board of National Bank of Georgia (NBG) elected Giorgi Kadagidze as the president of NBG, which was approved by President Saakashvili on February 27.

Two days ago 29-year-old Kadagidze was elected by the Parliament as new member of the board of NBG.

Since April 2008 Giorgi Kadagidze has served as the head of the Financial Supervisory Agency. In November, 2007 he served as an interim administrator of Standard Bank, after the National Bank appointed there a temporary administration. Late tycoon Badri Patarkatsishvili had interests in that bank at that time.

Since March 2006 to July 2007 Giorgi Kadagidze led the Economic Department at the General Prosecutor’s Office.

Davit Amaglobeli was acting president of the central bank since September, 2007, after the post became vacant following Roma Gotsiridze’s resignation.

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