The Central Bank Transparency Code—Findings Of The Pilot Reviews
Policy Papers, March 15, 2023
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- The Central Bank Transparency Code—Findings Of The Pilot Reviews
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Bibliographic details
- Published: March 15, 2023
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798400236327.007
Overview
- Publication date: March 15, 2023
- Purpose: Report to the Executive Board on outcomes of the Central Bank Transparency Code (CBT) pilot reviews.
- Core message: The pilot CBT reviews helped central banks evaluate transparency practices and strengthen dialogue with external stakeholders; the pilots also provided information on resources required for future reviews.
Key findings from the CBT pilot reviews
- The CBT pilot reviews:
- Helped central banks evaluate their transparency practices.
- Strengthened dialogue between central banks and external stakeholders.
- Provided valuable information on the resources required for conducting reviews going forward.
- Staff commitment and reporting:
- Staff will continue to offer CBT reviews to the rest of the membership.
- Staff will report back to the Board in FY2026 on:
- The progress of the CBT reviews.
- An update to the Code following five years of implementation.
Operational implications and policy recommendations
- Continued rollout:
- Offer CBT reviews across IMF membership based on lessons from pilots.
- Resource planning:
- Use pilot findings to plan and allocate resources required for future CBT reviews.
- Follow-up and update:
- Monitor progress and prepare an update to the Central Bank Transparency Code after five years of implementation.
- Report progress and proposed updates to the Executive Board in FY2026.
Contextual scope and thematic coverage
- Subjects listed:
- Central bank accountability
- Central bank autonomy
- Central bank transparency
- Central banks
- Financial Sector Assessment Program
- Financial sector policy and analysis
- Financial sector stability
- Monetary policy
- Political economy
- Keywords included:
- CBT Pilots
- CBT review
- Central bank accountability
- Central bank autonomy
- Central bank transparency
- central bank Transparency Code
- Financial Sector Assessment Program
- Financial sector stability
- Global
- guidance note
- Middle East and Central Asia
- transparency practice
- Western Hemisphere
The Central Bank Transparency Code—Findings Of The Pilot Reviews, Policy Paper No. 2023/006; Pages: 32; DOI: https://doi.org/10.5089/9798400236327.007; ISBN: 9798400236327; ISSN: 2663-3493.
Content in this bundle
- Policy Paper