Fitch’s Decision Reflects Georgia’s Sound Economic Policies and Macroeconomic Stability - Georgian National Bank’s First Vice Governor
Ekaterine Mikabadze, the First Vice Governor of the National Bank of Georgia, on Saturday said that Fitch Ratings’ decision to affirm Georgia’s sovereign credit rating at BB while upgrading its outlook to positive constituted significant recognition of the country’s macroeconomic stability and the National Bank’s consistent policy.
“The rating agency highlights the record growth in international reserves, noting that their accumulation reflects the sound policies pursued by the National Bank of Georgia. Furthermore, Fitch positively assesses improvements in the country’s external position, the ongoing trend towards de-dollarisation, and the resilience of Georgia’s banking sector”, she added.
According to Fitch’s report, Georgia’s total international reserves reached a record high of $8.2 billion in September 2026, exceeding the level recorded at the end of 2025 by $2 billion.
The rating agency identified the narrowing current account deficit, capital inflows, prudent monetary policy, and improved confidence as the key factors behind the increase in reserves.
The report also noted that rising confidence had contributed to increased demand among local residents for assets denominated in the Georgian lari.
Fitch also gave a positive assessment of developments in the external sector, noting that the trend towards a narrowing current account deficit continued in the first half of 2026, helping reduce the country’s external vulnerabilities.
The report placed particular emphasis on the resilience of Georgia’s banking sector.
According to Fitch, strong economic growth has had a positive impact on the sector’s financial indicators. As of August 2026, the banking sector’s return on equity (ROE) stood at 23.2%, the Tier 1 capital ratio reached 17.6%, and non-performing loans accounted for 2.5% of total loans.
Fitch Ratings forecasts that Georgia’s economy will maintain strong growth, expanding by 7.5% in 2026. Economic growth is expected to gradually moderate in 2027-2028, approaching its medium-term potential rate of 5%.
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The Tbilisi Finance Summit was a success in terms of expanding new investment opportunities for Georgia - Natia Turnava
04.11.2026.19:28
On October 27-28, Tbilisi hosted the second international Tbilisi Finance Summit, which brought together approximately 1,000 participants from around 60 countries.
The main theme of the summit was "Developing Regional Financial Corridors at the Intersection of Policy, Finance, and Technology." The event was co-organized by the National Bank of Georgia, the Ministry of Economy and Sustainable Development of Georgia, and the Singapore-based Global Finance & Technology Network (GFTN).
The summit brought together high-ranking officials from various countries, leaders of central banks and investment firms, and heads of international financial institutions and leading technology companies. Their participation provided a platform for discussing global financial trends, technological innovations, and prospects for regional cooperation.
Over the course of the two-day summit, participants discussed key trends shaping the global financial sector, opportunities to strengthen regional financial connectivity, the development of cross-border payments, digital currencies, artificial intelligence, open banking, financial technologies, and ways to maintain financial stability amid geopolitical challenges. Particular attention was devoted to the development of regional financial corridors and the deepening of international cooperation.
During the summit, the Governor of the National Bank of Georgia, Natia Turnava, spoke about the significance of the international event, noting that meetings of this scale provide Georgia with an opportunity to showcase its macroeconomic stability, economic growth, and investment potential to international partners. In her assessment, the summit was highly successful, particularly in terms of expanding opportunities for attracting international investment, given the participation of international investors and investment funds.
The Vice Governors of the National Bank of Georgia, along with representatives of various NBG departments, actively participated in the summit. During panel discussions, they addressed the interoperability of regional payment systems, the development of cross-border payments, prospects for the banking sector, and the strengthening of regional financial ties. A key focus of these sessions was enhancing cooperation with international partners and exploring new opportunities for financial sector development.
A major highlight of the Tbilisi Finance Summit was the signing of memorandums of understanding and the launch of new initiatives aimed at deepening international cooperation.
Specifically, a Memorandum of Understanding on establishing a scholarship program for future leaders in financial technology was signed by Tbilisi State University, Pave Bank, a digital asset and institutional bank, and the Singapore-based Global Finance & Technology Network (GFTN). The agreement provides for the launch of a Georgia-Singapore exchange program, offering Georgian students the opportunity to study at Singapore Management University (SMU) and gain exposure to the international fintech ecosystem.
The summit also featured AIFC Connect: Tbilisi 2026, an event organized by the Astana International Financial Centre, the National Bank of Georgia, and GFTN, with the support of the Embassy of the Republic of Kazakhstan. The meeting aimed to deepen financial cooperation between Georgia and Kazakhstan, expand mutual access to capital markets, and facilitate cross-border investments.
The summit also hosted the Global Use of RMB event, organized by Bank of China, the National Bank of Georgia, and GFTN. The event aimed to promote international investment and financing opportunities in Chinese yuan (RMB) and strengthen financial cooperation between China, Georgia, and other countries.
During the summit, the National Bank of Georgia and Bank of China signed an agreement under which Bank of China will provide the NBG with essential services for conducting operations in the China Interbank Bond Market (CIBM). This will enable the National Bank of Georgia to expand its investment operations in the Chinese bond market.
The event also hosted the Demo Day of the international Fintech Hackathon, during which local and international participating teams presented technological solutions to challenges facing the financial sector. Teams that won in various categories received cash prizes awarded by GITA, along with opportunities to attend global technology events in Dubai and Singapore.
The Tbilisi Finance Summit is an important international platform that strengthens the global positioning of Georgia's financial sector, promotes regional cooperation, fosters innovation, and creates new investment opportunities. The summit is set to become an annual event, continuing to foster international dialogue and strengthen cooperation across the financial sector.