Lowering the effective interest to 50% cannot control interest rates, Archil Mestvirishvili, vp of National Bank of Georgia (NBG) noted in the NBG event, wherein a new project about financial education was introduced.

“One from the changes which will be published to the Parliament necessitates lowering effective rate of interest to 50%, while we introduced 100% top margin at the start of 2017.

This step cannot control rates. This instrument was made aware of prevent issuing risky product rich rate of interest without examination of solvency level”, Archil Mestvirishvili noted.


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