Barclays sees Georgian market as attractive for international investment

According to the National Bank of Georgia's monthly review, in May, compared to the previous month, the average exchange rate of the lari against the US dollar strengthened from 2.6955 to 2.6806 (by 0.6%), and against the EUR from 3.1481 to 3.1315 (0.5%).At the end of May, the official exchange rate of the lari against the USD and EUR amounted to 2.6693 and 3.1079. During this period, the maximum exchange rate value was 2.6916, the minimum - 2.6693 (04/2026 - 2.70%, 2.69%, respectively). In April, the GEL strengthened by 0.9% against USD , but it strengthened less against the EUR, depreciating by 0.1%.

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The international conference "Perspectives for the Development of the Georgian Financial Market - Indices and Exchange-Traded Investment Funds" was dedicated to the practical use of Georgian government bond indices and the prospects for the development of index-based investment products."I would like to congratulate the National Bank of Georgia on such an important step as the publication of ICE indices in Georgia and the integration of the Georgian securities market into it. Both local and international asset managers are actively involved in the local market. We welcome and look forward to any new initiative of the National Bank, which will further increase market liquidity and attract more foreign investors," said Adrian Petreanu.The two-day international conference organized by the NBG was dedicated to the important project achieved in February 2026, when, for the first time in history, seven indices of Georgian government bonds were published with the support of the National Bank of Georgia. The indices were developed by Intercontinental Exchange (ICE) and became available through both Bloomberg (Bloomberg IND) and ICE's indices portal (indices.ice.com).

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The event was dedicated to the practical application of Georgian government bond indices and the prospects for the development of index-based investment products.The conference builds on a significant project achieved in February 2026, when, for the first time in history, seven Georgian government bond indices were published with the support of the National Bank of Georgia. The indices were developed by Intercontinental Exchange (ICE) and made available through both Bloomberg (Bloomberg IND) and ICE’s indices portal (indices.ice.com).The conference was opened by Ekaterine Mikabadze, First Vice-Governor of the National Bank of Georgia. In her welcoming speech, she spoke about the development of capital markets, the practical importance of market indices and their transformation into investment products.According to her, the publication of indices is an important step on the path of development of the Georgian financial market.“Georgia has made significant progress in recent years and today we have a well-developed government securities market, a strong market infrastructure, a DVP (Delivery versus Payment) settlement system and a modern framework for investment funds and asset managers. The funded pension system is becoming an increasingly important long-term investor in the local economy.“ICE Georgian Government Bond Indices” adds an important fundamental element to this structure. They represent a globally recognized benchmark - a target indicator and fully cover the sovereign curve of the lari with maturities up to 10 years. Using ICE indices, it is possible to manage portfolios with respect to yield and risk in treasury bonds, develop investment mandates and ultimately develop indexed investment products related to the Georgian government bond market,” said Ekaterine Mikabadze.Within the framework of the event, representatives of the Financial Markets Department and the Securities Market Supervision Department of the National Bank of Georgia presented reports on the strategic vision of Georgia’s development and the regulatory and tax environment for investment funds.The participants of the panel discussions discussed practical steps in creating index-based investment funds in Georgia, international experience in developing ETFs, as well as issues of strengthening the investment market ecosystem and developing relevant infrastructure.The conference was attended by representatives of Intercontinental Exchange (ICE), as well as Representatives of local and international financial institutions, investment fund management companies, the banking sector and asset management.The conference continued on the second day in the format of bilateral meetings between local financial market participants and ICE representatives.

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The central bank said international reserves are a key safeguard of the country’s macroeconomic stability, noting that its long-term policy remains focused on accumulating reserves and managing reserve assets efficiently.According to the National Bank, favorable foreign exchange market conditions have enabled it to continue replenishing reserves throughout 2026. Between January and May 2026, the central bank’s net foreign exchange purchases totaled $1.466 billion. Statistics on net purchases for June will be released on July 27.The National Bank also highlighted that it diversified its reserve portfolio in 2024 by making its first investments in monetary gold, describing the move as a strategic decision. Since then, rising gold prices have further increased the value of Georgia’s international reserves.In June 2026, the central bank purchased an additional $100 million worth of monetary gold. As of the end of June, gold accounted for 14.2% of Georgia’s total international reserves, equivalent to $1.014 billion.The National Bank of Georgia said it will publish updated data on the country’s total international reserves on August 7, 2026.

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The main sponsor of the draft resolution - “Protecting the integrity of elections and fundamental freedoms in Georgia” - is American Congressman Joe Wilson.Georgian delegation’s arguments: “Deliberate distortion of facts”The relevant statement was made by the Chairman of the Foreign Relations Committee of the Georgian Parliament and the head of the delegation, Nikoloz Samkharadze, in the format of a procedural remark before the vote. The ruling party MP harshly criticized the final version of the document, noting that it poses a threat to the country’s interests.“I would like to make a procedural remark regarding the voting procedures and present the following statement on behalf of the Georgian delegation. Due to the fact that certain parts of the revised version of the declaration deliberately distort the political reality in Georgia, grossly misrepresent and falsify the facts, completely ignore the violent attacks on state institutions, and arbitrarily interpret the reports of both the election observation missions and the “Moscow Mechanism”, thereby endangering the national interests of Georgia, our delegation will not participate in the voting process as a sign of protest,” Nikoloz Samkharadze said.He also added that it was doubly regrettable that such a decision was made in the capital of international law, The Hague. Samkharadze officially asked the Assembly Secretariat to properly reflect the protest and position of the Georgian side in the minutes of the session, while at the same time expressing his gratitude paid the Dutch Parliament for hosting and organizing.Assembly President’s response: “Leaving empty seats is the worst option”The President of the OSCE Parliamentary Assembly, Pere Joan Pons, immediately responded to Nikoloz Samkharadze’s statement and leaving the hall. He openly criticized the boycott tactic and drew a parallel with Georgia’s domestic political history, where opposition parties often boycotted the parliament.“Thank you very much, Nikoloz. As you know, leaving empty seats was not a good decision even in your country, and you are doing exactly the same here. I think leaving empty seats in the parliament is always the worst option, because democracy is, first and foremost, a joint attempt to resolve the conflict,” the Assembly President addressed the head of the Georgian delegation.Despite the protests of the Georgian side, the Assembly completed the voting procedure and officially adopted the “Hague Declaration” with the resolution included in it. The 33rd annual session of the OSCE Parliamentary Assembly, which began on July 4, ended with this decision.

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According to the statistics of the National Bank of Georgia, out of 52 applications of a dissatisfied customer of a pawnshop, the review of 51 was completed within the financial organization and the customer's claim was considered well-founded, although the problem expressed in the claim was not eliminated;Only 1 application was considered unfounded.The customer of a pawnshop is the most "responsible". It is easier for the lender to draw up its terms and interests. Accordingly, there are fewer complaints with the supervisor. Most pawnshops have a 1/2 monthly payment scheme - the client pays a percentage every 15 days. In the main case, the annual interest rate is 49%.A car pawnshop is available cheaper, at 40% per annum, and that too without proof of income, only in small volumes. A car pawnshop cannot accept more than 4,000 - 5,000 GEL.A car is pawned in a moving state. The borrower continues to use it within the country. He cannot cross the border and cannot sell the car until the loan is repaid.About 100 SGS are registered with the National Bank of Georgia. 

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According to the National Bank of Georgia statistics, the regulator received 2,712 (05/2025 - 2,323) complaints from dissatisfied clients with banksThe largest number of customer applications, 1,740, comes from the account/debit card service. (05/2025 - 1,530)Number of complaints by services: 05/2026/Source: National Bank of Georgia (NBG)Of the 2.7 thousand complaints reviewed, 1,630 are unfounded. 435 are subject to study and response. 645 cases are under review.

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According to G&T, Lion Finance Group closed last week at £117.5. Securities were traded at £108.5-117.6.As of 06.07.2026, the group's capitalization is £5.038 billion (01.06.2026 - £4.76)Share trend by week and monthSource: Galt & Taggart (G&T)

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