National Bank of Georgia First Vice Governor Ekaterine Mikabadze said the central bank is maintaining tight monetary policy as global shocks continue to affect Georgia mainly through inflation. Speaking at a Caucasus and Central Asia roundtable held alongside the International Monetary Fund and World Bank annual meetings in Thailand, she said future policy decisions will depend on inflation dynamics and their potential impact on inflation expectations. The central bank is assessing whether initial price effects from geopolitical tensions and disruptions in energy markets and air transport could spread to core and services inflation. Mikabadze also pointed to stronger external buffers, including a narrower current account deficit and international reserves that reached a record of about USD 8.1 billion in September 2026. Structural changes, expanded production capacity and greater diversification of services exports have helped reduce the economy’s exposure to global shocks.
National Bank of Georgia maintains tight monetary policy as reserves reach record USD 8.1 billion
The National Bank of Georgia is maintaining tight monetary policy while monitoring whether global shocks spread to core inflation, services inflation and inflation expectations. International reserves reached a record of about USD 8.1 billion in September 2026, strengthening the country’s external buffers.