Georgia, Hungary deepen cooperation between central banks

The National Bank of Georgia and the Central Bank of Hungary have signed a memorandum of understanding aimed at expanding cooperation and strengthening institutional ties.

The memorandum was signed by Chairman of the Board of the National Bank of Georgia, Natia Turnava, and Deputy Governor of the National Bank of Hungary, Péter Benő Banai, Caliber.Az reports, citing Georgian media.

The agreement covers cooperation and the exchange of expertise in key areas, including monetary policy, international reserve management, payment systems, financial services development, and the regulation and supervision of financial institutions.

During their meeting in Tbilisi, the officials also discussed prospects for further expanding cooperation and strengthening ties between the two central banks.

By Vafa Guliyeva