## High-Level Summary Technical Assistance Report — Suriname: Financial Stability Report (October 2023)

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**Canonical URL:** [High-Level Summary Technical Assistance Report — Suriname: Financial Stability Report (October 2023)](https://www.imf.org/-/media/files/publications/hls/2023/english/hlsea2023015.pdf)

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### Abstract
- The technical assistance aimed to enhance the financial stability report (FSR) of the Central Bank of Suriname (CBS).
- The mission concluded that the preparation of detailed FSR production plan and communication strategy are critical and could facilitate improvements, promote the report, and bring some synergies between different teams involved.
- The report should reflect on all important elements of financial stability assessment and needs to be streamlined to follow the central story with the key messages.
- The quality of the report could be further improved by advancements in the employed analytical toolkit and utilization of all available data sources.
- JEL Classification Numbers: G01; G20; G10; G30; G50; H00
- Keywords: financial stability; financial stability report; systemic risk; analytical toolkit

### Background
- The mission focused on enhancing the financial stability report (FSR) of the Central Bank of Suriname (CBS) whose publication has recently resumed.
- Reviewed the latest available FSR together with all background documents on financial stability work shared by the CBS.
- A one-week mission at the Central Bank of Suriname consisting of a targeted workshop and meetings was undertaken.

### Summary of Findings
- The FSR is the flagship product of the CBS in the financial stability area and is the joint effort of several teams within the CBS.
- The report is fragmented and does not provide a single story with clear messages; teams involved in drafting need to understand how their topics fit into an overall story-telling format.
- The report misses a description of the relevant elements of the existing regulatory framework for different segments of the financial system, making interpretation difficult for readers unfamiliar with Suriname’s regulatory framework.
- Lack of analyses of the real sector and existing gaps in the financial stability analytical toolkit prevent assessment of the full financial stability picture.

### Summary of Recommendations
- Content, structure, and related FSR processes
  - Prepare a detailed FSR production plan to facilitate improvements and create synergies between different teams involved in production.
  - Change the structure of the report to a top-down approach to improve overall structure and readability.
  - Ensure the report contains a central risk story based on a forward-looking, frank, and consistent financial stability risk assessment that is easy to understand by readers.
- Communication and governance
  - Prepare a communication strategy to establish the report as the key financial stability communication tool.
- Resourcing
  - Consider additional headcount for the Financial Stability Department.
- Analytical toolkit and methods
  - Further enhance the financial stability analytical toolkit to identify, monitor, and assess all relevant financial stability risks.
  - Continue methodological improvements to the regularly performed banking top-down stress test.
  - Conduct more in-depth analysis of the insurance and pension sector.
  - Enhance relevant economic research.
- Data sources and statistics
  - Utilize all available data sources to identify and assess key financial stability risks.
  - Explore the possibility to use credit registers for statistical/financial stability work.
  - In the meantime, cover existing data gaps by conducting different surveys with the industry.
  - Initiate a discussion on software/tools to be used for processing big data in the Bank.

*2023 International Monetary Fund HLS/23/15 — High-Level Summary Technical Assistance Report: Suriname Financial Stability Report*

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_Source: https://www.imf.org/-/media/files/publications/hls/2023/english/hlsea2023015.pdf_