National Bank of Georgia rejects European Parliament sanctions call against its governor as political pressure

The National Bank of Georgia issued a statement responding to a European Parliament resolution that calls on the Council of the European Union and Member States to impose sanctions on Georgian businessmen and high-ranking officials, including National Bank of Georgia Governor Natia Turnava. The central bank noted that the resolution is recommendatory and framed the call for sanctions against the governor as political pressure on an independent financial regulator. The statement argues that Georgia’s economic fundamentals remain strong, citing inflation below target and robust economic growth, and notes that the National Bank of Georgia’s monetary policy has been recognized by international organizations. It also states that the Georgian financial system remains sound, transparent, and well-regulated, that banks maintain high standards on anti-money laundering and sanctions enforcement, and that work to align the financial system and legislation with European regulations has received positive assessments; it adds that efforts to discredit the central bank and the banking sector are unacceptable and contrary to internationally recognized standards, and that the National Bank of Georgia will continue to pursue its mandate to ensure price and financial stability.