National Bank begins issuing state bonds

The National Bank of Georgia began issuing state liability bonds. According to the official version, by selling state bonds, the National Bank of Georgia is using this money to cover all of its debts. Some analysts believe that this money will be used by the state budget for financing social programs promoted by state officials. In the first half of 2012, NBG has already sold treasury and state bonds, acquiring more than GEL 300 million. This means that the internal debt of the country has increased by this amount. According to some analysts, this kind of financial operation conducted by National Bank is unprecedented for Georgia.