The National Bank of Georgia (NBG) Council has appointed Natia Turnava as the First Vice President, marking a historic moment as she becomes the first woman to act as the bank's president. The position was established following amendments to the Organic Law on the National Bank by the Georgian Parliament, allowing the First Vice President to assume presidential responsibilities in their absence.
Turnava, conscious of the gravity of her new role, noted, "Assuming the position of the First Vice President, and standing in as the president in an organization tasked with the financial stability of the country, is indeed a huge responsibility. The National Bank of Georgia is home to exceptional professionals united by our dedication to the bank and the collective mission of fostering the country's economic well-being."
Reflecting on Georgia's resilience amidst global challenges, she added, "Georgia weathered the storm of the pandemic and maintained financial stability and international ratings even during the Russia-Ukraine conflict. It is essential to carry forward the National Bank's ongoing projects and reforms, including support for the development of digital technologies and latest innovations."
Elected as a member of the National Bank's Board on June 7 of the previous year, Turnava has held several high-ranking positions, bringing nearly 30 years of professional experience to her new role. An economist by training, she holds a doctorate in economics and an MBA from the University of Cumbria, Great Britain, earned in 2014.
Her illustrious career includes serving as Georgia's Minister of Economy and Sustainable Development from 2019 to 2022, and as Deputy Minister from 2018 to 2019. Prior to that, she spent five years as the Deputy Executive Director of the Partnership Fund. Earlier still, from 2006 to 2013, Turnava was a member of the Board of Directors for the "Georgian Industrial Group" LLC (GIG) and served as the General Director of the "Georgia International Energy Corporation" LLC, where she also chaired the Board of Directors. From 2000 to 2005, she served as the First Deputy Minister of Economy of Georgia.
In response to journalists' queries, Turnava emphasized the importance of maintaining strong, effective, and close cooperation with the International Monetary Fund and other international organizations and central banks. She assured that all the regulations and restrictions imposed on Russia by the USA, the European Union, and Great Britain since the onset of the Ukraine invasion will be upheld.
"The independence of the National Bank is secured by the Constitution of Georgia and the Organic Law 'On the National Bank of Georgia'," she confirmed. "Of course, on certain issues, there will be coordination with the government's economic team."