Opposition MP Gotsiridze claims $700 million in reserves lost in September-October

In a recent social media post, opposition MP Roman Gotsiridze accused the National Bank of Georgia of concealing significant financial losses in the lead-up to the elections. He revealed that an alarming $700 million in reserves were lost during September and October, with the full extent of this situation expected to be disclosed on November 25.

Gotsiridze highlighted the National Bank’s recent announcement regarding the amount of foreign currency sold without auction in September, which totaled $103.5 million—surpassing initial estimates. He emphasized that these losses are particularly detrimental given the electoral context.

“October was a disastrous month before the elections. The National Bank will only reveal this on November 25. According to our calculations, the National Bank sold approximately $600 million in total through auction and non-auction methods. The reserves lost during September and October amount to nearly $700 million, and restoring this will take years,” Gotsiridze stated.

He attributed these financial mismanagement issues to the ruling Georgian Dream party’s “criminal policies,” which he claimed the National Bank was protecting.