A delegation from the National Bank of Georgia visited the Central Bank of the Republic of Azerbaijan.

As part of the visit, a meeting was held between the President of the National Bank of Georgia, Natia Turnava, and the President of the Central Bank of the Republic of Azerbaijan, Taleh Kazimov.

The National Bank of Georgia released information about the meeting.

According to the statement, the parties discussed strengthening regional cooperation in the field of monetary policy and central banking activities. The discussion also touched upon the regional macroeconomic environment, the financial sector, and the impact of geopolitical factors on monetary policy.

While discussing Georgia's macroeconomic outlook and monetary policy, Natia Turnava noted that the Georgian economy remains resilient to shocks. Inflation is below the target level, and economic growth is strong. Price stability has been achieved through the cautious monetary policy decisions of the National Bank of Georgia, including timely tightening and subsequent gradual easing. As the NBG President stated, inflation is expected to remain below the target level in the coming months. From the perspective of financial stability, Georgia’s banking sector maintains solid profitability and healthy credit growth, with business loans playing a crucial role.

During the meeting, representatives of the two central banks also focused on opportunities for developing financial services between the two countries, including improving the efficiency of cross-border payments. Currently, the National Bank of Georgia is working on modernizing its payment infrastructure to make transactions faster and more efficient. Two key projects in this regard are the upgrade of the RTGS system and the introduction of an instant payment system. The parties agreed to explore opportunities for cooperation in payments to reduce transaction costs and enhance efficiency.

The meeting also covered regional cooperation in the fintech sector. It was highlighted that in recent years, both countries have made significant strides in fostering innovation. Strengthening cooperation between the central banks of Georgia and Azerbaijan will facilitate the next stage of financial services development.

Following the meeting, Natia Turnava and Taleh Kazimov signed a memorandum of cooperation.

The Ambassador of Georgia to the Republic of Azerbaijan, Zurab Pataradze, also attended the meeting at the Central Bank of Azerbaijan.

Additionally, the meeting was attended by Tamta Sopromadze, Head of the Macroeconomics and Statistics Department of the NBG; Vakhtang Sikharulidze, Head of Banking Supervision; Natalia Chkoidze, Head of the Payment Systems Department; and Giorgi Edilashvili, Head of the International Relations Department.