TBILISI(BPI)-“Commersant “reports, Irakli Managadze is expected to replace George Kadagidze on the post of the National Bank’s President.
According to our information, Managadze is ready to leave London, where he has served as Senior Policy Advisor of Financial Institutions (EBRD) since 2005, and once again lead the National Bank of Georgia.
As reported, Managadze’s candidacy is supported by international organizations and the banking circles of Georgia as well as the former Prime Minister Bidzina Ivanishvili is also positively disposed towards him.
2030 organization member, an expert Mikheil Dundua can’t negatively assess Irakli Managadze’s possible appointment as the NBG President because of his proper experience. However, he notes that he knows nothing about it.
As for the information that the Bank Supervision Department is expected to be led by Mikheil Dundua. The expert says that this subject has not been discussed and the selection of candidates will start after the bill is approved.
Recall that Irakli Managadze served as President of the National Bank of Georgia from March 1998 to March 2005.
In 2013, in a newspaper interview he said he had left Georgia for the principal reasons and until the National Movement and Mikheil Saakashvili were in power, he would not wish to return.
According to the current law, President of Georgia must submit to Parliament a candidacy for the NBG Board for approval. The NBG Board members are elected by Parliament for the seven-year term by a majority votes of members of Parliament. President of the National Bank is appointed and dismissed by the President of Georgia.
George Abashishvili, Adviser to the President on Economic Affairs, rules out discussion of the National Bank’s presidential candidates.
Experience, knowledge and education in the field of economics and finance will be the main criteria for choosing the candidate. In addition, the President’s administration believes that President of the National Bank should be free from political influence, “- Abashishvili said in his interview with “Commersant”.
Recall that the bill on separation of the banking supervision department from the National Bank was initiated in Parliament. George Abashishvili notes that the President will veto the bill undoubtedly.
George Kadagidze’s term in office expires in 2016.