Georgia Capital PLC Investment Overview
3000
2500
2000
1500
1000
500
0
-500
Jun-03
Dec-03
Jun-04
Dec-04
Jun-05
Hungary
Georgia
Turkey
Prudent monetary policy ensures macro-financial stability
International reserves
Sources: NBG
3500
Monetary policy rate
GEORGIA
CAPITAL
NBG continued gradual exit from moderately tightened monetary
policy and decreased its refinancing rate by 50 basis point in 1Q19.
Dec-05
90-unr
Sources: NBG
Official Reserve Assets, US$ mln
Net Foreign Assets, US$ mln
3500
%
کس
14
3000
12
2500
10
2000
1500
1000
500
0
0 8 6 2
4
-500
0
Dec-06
Jun-07
Dec-07
80-unr
Dec-08
60-unr
Dec-09
Jun-10
Dec-10
Jun-11
Dec-11
Jun-12
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Nonperforming loans to total gross loans, latest 2019
Sources: IMF
Lithuania
Poland
Romania
Latvia
Armenia
Bulgaria
Bosnia and Herzegovina
Kazakhstan
Croatia
Portugal
Russia
2.20%
2.40%
3.00%
% 370% 00% 4.90% 10%
6.40%
7.60%
8.40%
8.60%
9.4%
9.40%
10.70%
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
0%
Armenia
Georgia
30%
25%
20%
15%
10%
5.75%
6.50%
5%
Russia
Turkey
Kazakhstan
Belarus
7.25%
9.00%
10.00%
19.75%
Monetary policy rate remains low vs. peers
Sources Central banks
end-2017 end-2018 latest-2019
Feb-08
Oct-08
Jun-09
Feb-10
Oct-10
Jun-11
Feb-12
Oct-12
Jun-13
Feb-14
Oct-14
Jun-15
Feb-16
Oct-16
Jun-17
Feb-18
17.00%
Oct-18
Jun-19
Ukraine
Azerbaijan
8.25%
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