Georgian governor appointed on permanent basis

Georgia’s president, Mikheil Kavelashvili, approved Natia Turnava as governor of the National Bank of Georgia on February 7, ending a lengthy period during which she had carried out the role in an acting capacity.

A day earlier, the Georgian parliament approved four new members of the bank’s board on the nomination of the president. The board met on February 7 and unanimously nominated Turnava as its permanent governor.

Turnava joined the bank as a board member in June 2022, having previously been economy minister. She went on to become vice-governor and acting governor in June 2023. She is the bank’s first female governor.

Turnava was appointed to the board by the country’s then president, Salome Zourabichvili. The president later said she regretted having appointed Turnava, and blocked her from becoming full governor. However, Zourabichvili was forced to step down in December after the process for choosing the country’s president was changed from election by popular suffrage to a vote by an electoral college.

Turnava holds a PhD in economics from Tbilisi State University and a master’s in business administration from the University of Cumbria in the UK. She has previously worked as a university lecturer and held directorships at the Georgian International Energy Corporation and Georgia’s state investment fund.

Board appointments

Three of the four board appointees were already senior officials at the central bank. The fourth, Otar Shamugia, was minister of environmental protection and agriculture.

Vakhtang Burkiashvili has been an executive director at the bank since 2018. He was previously a director at various Georgian investment funds.

Levan Dzneladze has been head of the bank’s cash operations and cash circulation department since 2020. He previously held roles at the finance ministry, the national museum and various companies. From 1997 to 2000 he was deputy minister of finance.

Nino Jeladze became head of the bank’s supervisory policy department in 2024. Before that she held several positions at banks working on anti-money laundering and operational risk.