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28/02/2023

On the CBCG request, the IMF mission will conduct the transparency audit of CBCG in June. The IMF Central Bank Transparency Code is an international code enabling central banks to map their transparency practice to increase their responsibility towards all key stakeholders and improve central banks’ efficiency and visibility.

Considering the tendency to pursue its functions and policies following the highest standards and the best practice, the CBCG asked for the IMF audit to establish standards harmonised with the best practice in the external communication primarily with the most important partners and financial institutions. 

The CBCG transparency code audit implies the analysis of central bank practice and procedures concerning its management, policy, operations and external communication. In addition to the CBCG, the IMF will discuss with the representatives of the Parliament, the media, civil sector, academic community, and other stakeholders during the mission. The objective of the CBCG transparency code audit is the implementation of the highest international transparency standards, and strengthening the CBCG’s dialogue with the external public, including the highest state and international institutions, NGO sector, etc.

With the IMF audit, the CBCG continues the transparent relations policy to the most important financial institutions. The CBCG will use the audit report and results, expected in Q4 of this year, to improve its procedures and practices aimed at raising transparency in all segments to the highest level.