Tbilisi (GBC) – Governor of the National Bank of Georgia, Natia Turnava, met with representatives of the World Bank Treasury’s RAMP (Reserve Advisory & Management Partnership) Program - Katarzyna Monika Zajdel-Kurowska, Director of Treasury Asset Management and Advisory, TREAA, as well as Marco Ruiz and Guilherme Alves, Managers of Advisory and Partnership, TREAP. Aleksandre Khazaradze, Head of the Financial Markets Department of the National Bank of Georgia, also participated in the meeting.
Discussions centered on the critical importance of building and maintaining adequate reserves within central banks. The participants emphasized the vital role of international currency reserves in safeguarding a country and its financial system against crises triggered by stressful events.
Natia Turnava highlighted the tangible progress achieved through the NBG’s cooperation with the World Bank’s RAMP program. She noted that, with RAMP’s support, the NBG had significantly enhanced its reserve management practices, transitioning from a basic "buy-and-hold" approach to more sophisticated, active investment strategies.
"Through our partnership with the World Bank Treasury RAMP program, the National Bank of Georgia has transformed its foreign exchange reserve management in line with global best practices. We have introduced world-leading methods and standards, allowing the NBG to establish its place among the leading central banks in reserve management," Turnava stated.
During the discussion, representatives of the RAMP program expressed their readiness to deepen cooperation, share expertise, and provide support for ongoing reforms and technical assistance initiatives.
It is worth noting that the National Bank of Georgia has been a member of the RAMP program since 2009, with the partnership agreement most recently renewed for another three years in October 2024. The NBG actively engages with RAMP colleagues, participating in both study visits and hosting delegations as part of this collaborative effort.
Launched in 2001, the World Bank Reserve Advisory and Management Partnership (RAMP) assists central banks, sovereign wealth funds, and public sector institutions worldwide in strengthening the management of their foreign exchange reserves.
