Suriname: Technical Assistance Report—Financial Stability Report
IMF Staff Country Reports, October 25, 2023
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- Suriname: Technical Assistance Report—Financial Stability Report
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Bibliographic details
- Published: October 25, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400257490.002
Executive summary and mission focus
- The mission focused on enhancing the Financial Stability Report (FSR) of the Central Bank of Suriname (CBS), whose publication has recently resumed.
- The report provides summary and recommendations on the CBS FSR’s content, structure, and related FSR processes.
- Key thematic emphases included internal and external communication, additional headcount for the Financial Stability Department, development of the financial stability analytical toolkit, coverage of the non-banking sector, and the use of data sources and statistics.
Findings on FSR production and governance
- Preparation of a detailed FSR production plan is critical to facilitate improvements and create synergies between teams involved in FSR production.
- The production plan should:
- include different steps of the FSR production process;
- set up a firm date of publication.
- CBS internal and external communication around the FSR requires enhancement to support transparency and effective dissemination.
Analytical capacity and toolkit
- The CBS should continue working toward enhancing the financial stability analytical toolkit.
- Additional headcount is recommended for the Financial Stability Department to support analytical work and FSR production.
Coverage of non-banking sector and sectoral analysis
- The mission identified the need for more in-depth analysis of the insurance and pension sector.
- Bank-like activities undertaken by non-banks should be fully assessed and monitored to capture financial stability risks outside the banking sector.
Data, statistics, and sources
- The mission recommended improving the use of data sources and statistics to support FSR analysis and stress testing.
Policy recommendations (summarized)
- Develop and implement a detailed FSR production plan with defined steps and a firm publication date.
- Strengthen CBS internal and external communication related to financial stability reporting.
- Recruit additional staff for the Financial Stability Department to build analytical capacity.
- Enhance the financial stability analytical toolkit and expand its applications (including stress testing).
- Perform in-depth analysis of the insurance and pension sectors.
- Fully assess and monitor bank-like activities by non-banks and broaden coverage of the non-banking sector.
- Improve data collection, statistical usage, and integration of diverse data sources for FSR production.
Content in this bundle
- 1surea2023005