Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Tbilisi, February 23 /Xinhua/ — Georgia's access to the China Interbank Bond Market (CIBM) opens new opportunities for diversifying its international reserves, Natia Turnava, President of the National Bank of Georgia (Central Bank), said on Monday.
As noted in the regulator's press release, the head of the Central Bank made the corresponding statement during a meeting with representatives of the financial sector.
According to the agency, in early February, the National Bank of Georgia gained access to one of the largest and most significant financial markets in the world – the Chinese interbank bond market.
"Gaining access to CIBM allows us to more flexibly and effectively manage international reserves, expand the range of investment instruments, and strengthen our risk management system," said N. Turnava.
The head of the Central Bank noted that, in accordance with the current reserve structure, the share of minor currencies is set at 10 percent, of which approximately 5 percent is planned to be placed in instruments backed by the Chinese yuan.
According to her, it is important for Georgia to consistently diversify its international reserves across currencies, asset types, and geographic areas, which helps reduce concentration risks and ensure sustainable reserve management.
During the meeting, the parties discussed the policy of diversifying international reserves and the practice of investing in Chinese yuan-denominated assets. Participants also noted the growing role of the Chinese yuan in the international monetary system, emphasizing its importance as a key instrument for global financial settlements and reserve assets.
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