President of the National Bank of Georgia (NBG) Koba Gvenetadze believes that the recent devaluation of the lari is mainly caused by external factors. He says that the National Bank cannot make any forecasts, and does not have any target exchange rate.
There are several factors that affect the lari, but now it is mainly influenced by the situation in the region. I cannot agree with the opinion that the reason for the devaluation is the government's wrong economic policy. Even the IMF experts said in a recent report that the situation in the region and competition in foreign trade are the risk factors,”- Gvenetadze explains.
NBG President adds that the National Bank controls the prices and in August inflation was 3, 1% which is quite a tolerable level.