Zdeněk Tůma, former Governor of the Czech National Bank, praised the National Bank of Georgia [NBG] for its “rapid response” to recent economic shocks.

“The NBG, like other small economies, has responded more quickly to recent shocks than the central banks of large countries, such as the Federal Reserve System of the US, the European Central Bank, and the Bank of England.

This means the NBG is well prepared, has strong management and a very good analytical team, which allows for timely and appropriate decision-making”, - explained Zdeněk Tůma.

He is visiting Tbilisi to attend the international conference “Shaping the Future of Monetary Policy”, organized by the National Bank of Georgia.

Participants discussed current challenges facing monetary policy in small, open, developing economies together with international economists.