Acting chair Turnava appointed as head of Georgia’s National Bank

Mikheil Kavelashvili, elected as a president of Georgia by the electoral college in the ruling Georgian Dream party-led Parliament last year, on Friday confirmed Natia Turnava, the acting chair of the country’s National Bank and former economy minister, as its char after she was nominated by the institution’s board.

In an official statement, the NBG Board announced its “unanimous approval” of Turnava’s appointment during a recent meeting. Having served as First Vice-President and Acting President since June 2023, Turnava now takes on the role in a permanent capacity.

Her tenure has not been without challenges. In September 2023, under her leadership, the NBG modified regulations concerning international sanctions enforcement. This change was perceived by many as an attempt to shield the assets of former Prosecutor-General Otar Partskhaladze, who had been sanctioned by the United States. The decision provoked strong reactions, including criticism from then President Salome Zourabichvili, who accused Turnava of harming the country’s financial standing and urged the NBG Board to reconsider the ruling.