The messenger logo

Majority says there is no reason to listen to outgoing NBG head in Parliament

By Tatia Megeneishvili
Wednesday, January 20
The President of the National Bank of Georgia (NBG), Giorgi Kadagidze, wishes to present an annual report to Parliament before he leaves the post at the end of February. However, members of the ruling majority Georgian Dream (GD) coalition state that it is “not necessary” to listen to the outgoing head of the country’s main bank.

“This is my last report in the posst of the President of NBG and it will be welcome if Parliament lets me discuss all the challenges the country’s financial sector has faced,” stated Kadagidze.

The lawmakers should have listened to the NBG’s and Audit Service’s annual reports before the end of 2015. However, the reports were not given.

The Chairman of the Defense and Security Committee of Parliament from the GD majority, Irakli Sesiashvili, states that he has no special interest in listening to Kadagidze’s report.

“I have no interest in the report as Kadagidze will have to quit the post shortly, and in case of remarks and demands from the legislative body over some issues, he will not be able to settle them,” Sesiashvili said, adding that the Bureau of Parliament would make a decision whether to listen to Kadagidze or not.

The First Deputy of the Georgian Budget Committee, Nodar Ebanoidze, stated that Parliament has a legal obligation to listen to the head of NBG.

“It does not really matter where Kadagidze will present NBG’s report. Parliament has to listen to the reports of both structures and analyze them,” stated Ebanoidze.

An economic expert, Emzar Jgerenaia, said that both the President and Parliament should listen to the report.

“We must listen to the head of the NBG. We need to learn about all the problems that the NBG is facing. The public also needs to be informed about the nation’s financial issues. We also demand that we discuss the candidacy of the next NBG President,” stated Jgerenaia.

Several majority members - Tamaz Metchiauri among them - openly accused Kadagidze of being deliberately responsible for the national currency’s devaluation, a plan that they claim was launched with the cooperation with the United National Movement opposition party.

Meanwhile, the opposition blames the current leadership and not the NBG head for the recent economic problems, and state that it was because of the current government’s incompetence and misguided policies which led the country to its economic downfall.