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Former Economy Minister Becomes National Bank Board Member

The Georgian Parliament approved yesterday former Economy Minister Natia Turnava to the Board of the National Bank of Georgia (NBG) with 80 votes for and 9 against.

Turnava was nominated by President Salome Zurabishvili, and her candidacy was considered by the Parliamentary Committee on Finance, Budget, and Sectoral Economy.

NBG Board, comprised of nine members, are elected individually for seven-year terms following the President’s nomination and a majority vote in Parliament. One more position remains vacant to date.

The current National Bank Governor and the Board Chair, Koba Gvenetadze, finishes his term in 2023, with some government-critical media outlets speculating that Turnava may be considered to replace Gvenetadze.

A candidate for Governor is nominated by the Board from its ranks, which requires presidential approval.

Asked about the possibility, Turnava responded to reporters that “the question is not relevant, and it is not correct. I am nominated as a member of the Board of the National Bank.”

Turnava was replaced as the Minister of Economy on February 9, 2022, by Minister Levan Davitashvili.

This post is also available in: ქართული (Georgian) Русский (Russian)

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