{
  "title": "The Central Bank Transparency Code—Findings Of The Pilot Reviews",
  "publication": "Policy Papers, March 15, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2023/03/15/the-central-bank-transparency-code-findings-of-the-pilot-reviews-530926",
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  "summary": "This paper reports to the Executive Board on the outcomes of the Central Bank Transparency Code (CBT) pilot reviews. The pilot CBT reviews helped central banks evaluate their transparency practices and strengthen dialogue with external stakeholders.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: March 15, 2023\n- Purpose: Report to the Executive Board on outcomes of the Central Bank Transparency Code (CBT) pilot reviews.\n- 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."
    },
    {
      "heading": "Key findings from the CBT pilot reviews",
      "content": "- The CBT pilot reviews:\n  - Helped central banks evaluate their transparency practices.\n  - Strengthened dialogue between central banks and external stakeholders.\n  - Provided valuable information on the resources required for conducting reviews going forward.\n- Staff commitment and reporting:\n  - Staff will continue to offer CBT reviews to the rest of the membership.\n  - Staff will report back to the Board in FY2026 on:\n    - The progress of the CBT reviews.\n    - An update to the Code following five years of implementation."
    },
    {
      "heading": "Operational implications and policy recommendations",
      "content": "- Continued rollout:\n  - Offer CBT reviews across IMF membership based on lessons from pilots.\n- Resource planning:\n  - Use pilot findings to plan and allocate resources required for future CBT reviews.\n- Follow-up and update:\n  - Monitor progress and prepare an update to the Central Bank Transparency Code after five years of implementation.\n  - Report progress and proposed updates to the Executive Board in FY2026."
    },
    {
      "heading": "Contextual scope and thematic coverage",
      "content": "- Subjects listed:\n  - Central bank accountability\n  - Central bank autonomy\n  - Central bank transparency\n  - Central banks\n  - Financial Sector Assessment Program\n  - Financial sector policy and analysis\n  - Financial sector stability\n  - Monetary policy\n  - Political economy\n- Keywords included:\n  - CBT Pilots\n  - CBT review\n  - Central bank accountability\n  - Central bank autonomy\n  - Central bank transparency\n  - central bank Transparency Code\n  - Financial Sector Assessment Program\n  - Financial sector stability\n  - Global\n  - guidance note\n  - Middle East and Central Asia\n  - transparency practice\n  - Western Hemisphere\n\nThe 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.\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2023/03/15/the-central-bank-transparency-code-findings-of-the-pilot-reviews-530926"
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    "Published: March 15, 2023",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9798400236327.007",
    "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.",
    "The CBT pilot reviews:",
    "Staff commitment and reporting:",
    "Continued rollout:",
    "Resource planning:",
    "Follow-up and update:",
    "Subjects listed:",
    "Keywords included:",
    "**Policy Paper**"
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