Georgian battle over CB capital

The National Bank of Georgia (NBG) and the government look set for a stand-off over the bank's capital. The issue concerns whether central bank profits should be added to it capital or go toward filling the state budget.

NBG president, Roman Gotsiridze, has put forth an initiative to more than double the amount of charter capital of the bank holds. The government argues that the move would deprive the state budget of funds, but the central bank appears determined to set its own course.

Gotsirid