Tbilisi (GBC) - The National Bank of Georgia supplies the system with liquidity. According to the NBG statistics, more than 300 million GEL was removed from circulation through currency auctions in October.

In addition, the NBG continues to provide refinancing and one-day loans. As of 1.10.2024, the one-day loan balance is up to 600 million GEL. It is also issued these days. On the last auction day (16/10) up to 300 million GEL and the day before 220 million GEL. Disbursements in the amount of 200 million GEL also coincide with the date of the previous auction (08/10).

According to the NBG statistics, as of October, the debt of banks reaches 4.5 billion (the sum of the balance of refinancing and other short-term loans). At the moment, the balance of refinancing loans is up to 3.9 billion GEL.

According to the NBG, this liquidity management tool is not directly related to the intervention, but it is related to the demand for money, which in turn is related to the intervention.

The NBG has explained the functional difference between these 2 instruments many times, but many people still don't believe it.