A delegation from the National Bank of Georgia visited the Central Bank of the Republic of Azerbaijan, where a meeting was held between Natia Turnava, the President of the National Bank of Georgia, and Taleh Kazimov, the President of the Central Bank of Azerbaijan.

The discussions focused on enhancing regional cooperation in the areas of monetary policy and central banking. Specific topics included the regional macroeconomic environment, the financial sector, and the influence of geopolitical factors on monetary policy.

In her remarks on Georgia's macroeconomic outlook and monetary policy, Natia Turnava emphasized that the Georgian economy has demonstrated resilience in the face of external shocks. She noted that inflation remains below the target, while economic growth is robust. Price stability has been achieved through prudent monetary policy decisions by the National Bank of Georgia, which included timely tightening and gradual easing measures. Turnava further indicated that inflation is expected to remain below the target in the near future. Regarding financial stability, she highlighted the solid profitability and healthy credit growth within the Georgian banking sector, with business loans playing a critical role.

The central bank representatives also explored potential avenues for the development of financial services between the two countries, with particular attention to enhancing the efficiency of cross-border payments. Currently, the National Bank of Georgia is modernizing its payment infrastructure to improve speed and efficiency. Key projects in this regard include upgrading the Real-Time Gross Settlement (RTGS) system and implementing an instant payment system. Both parties agreed to collaborate in exploring opportunities to reduce transaction costs and enhance efficiency in payments.

Furthermore, the meeting addressed regional cooperation in the fintech sector. Both countries have made significant strides in fostering innovation in recent years. It was agreed that strengthening cooperation between the central banks would facilitate the transition to a more advanced stage of financial services development.

Following the meeting, Natia Turnava and Taleh Kazimov signed a memorandum of cooperation.

The meeting at the Central Bank of Azerbaijan was attended by Zurab Pataradze, the Ambassador Extraordinary and Plenipotentiary of Georgia to Azerbaijan, as well as Tamta Sopromadze, Head of the Macroeconomics and Statistics Department of the National Bank of Georgia; Vakhtang Sikharulishvili, Head of the Banking Supervision Department; Natalia Chkoidze, Head of the Payment Systems Department; and Giorgi Edilashvili, Head of the International Relations Department.