According to Maya Grigolia, Coordinator and Leading Instructor in ISET’s training programme for the banking sector, the extent of aggregate currency mismatch on Georgia’s balance sheet is closely related to the process of its integration into the global financial system. In her blog "Does Georgia Need its Own Currency", published in 2013, Grigolia said: “several years ago, most Georgian banks were owned by individual local investors. Now, foreign banks and holdings are majority owners in large domestic banks, while other institutional investors are represented in the ownership of various Georgian banks. Such a trend in ownership structure reflects increasing trust in the Georgian economy on the part of foreign investors and an opportunity to integrate into the global financial markets.” To read the full article click here.

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