The National Bank of Georgia (NBG) hosted an international seminar on "Impact and Risks of Global Economic Trends", bringing together experts to discuss regional challenges and strategies for maintaining financial stability. The event aimed to identify emerging economic trends, assess potential risks for the future.

Vice Governor of the NBG, Ekaterine Mikabadze, opened the event, emphasizing the NBG’s role in ensuring macroeconomic stability and sustainable economic growth: “Flexibility, transparency, and trust are the foundations of a successful monetary policy”.

She reaffirmed the NBG’s commitment to maintaining price stability as a core mandate, ensuring economic resilience: “Price stability is the primary mandate of the NBG and the foundation for long-term economic growth. Since early 2023, inflation has been on a downward trajectory, and since March, it has remained below the 3% target. This outcome reflects the effectiveness of our monetary policy - both in timely tightening and gradual normalization”.

The seminar featured presentations by renowned global economic experts and international advisors to the NBG, Douglas Laxton and David Vavra.

David Vavra highlighted the effectiveness of the NBG’s monetary policy framework and explored strategies to address emerging risks in the financial sector, both globally and in Georgia.

Douglas Laxton praised the NBG’s approach to price stability, noting that it has outperformed many advanced economies in managing inflation: “I discussed the key risks facing the global economy, which are relevant to all countries, particularly small open economies like Georgia. It is worth noting that the NBG has tackled price stability challenges more effectively than many developed economies. Additionally, the central bank’s open communication with commercial banks is commendable and should be adopted more widely”.

Laxton, who previously worked at the International Monetary Fund and the Bank of Canada, played an instrumental role in developing the NBG’s Forecasting and Policy Analysis System. Meanwhile, Vavra brings extensive experience in macroeconomic modeling and forecasting, particularly in collaboration with central banks.

The seminar was attended by representatives from the Georgian Parliament, Government, financial sector, analytical centers, research institutions, and academia. By fostering such discussions, the NBG strengthens collaboration between professionals and academics while providing a valuable platform for informed debate.