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15 Mar 2023
IMF Executive Board Discusses the Outcomes of Central Bank Transparency Code Pilot Reviews
The pilot reviews documented transparency practices across all key aspects of central banking and highlighted the areas for improvement. The CBT reviews’ recommendations received strong traction from the participating central banks. A survey of the participating central banks, conducted following each CBT review, confirmed that all CBT pilots were viewed as very beneficial, confirming staff’s view of the efficacy and success of the CBT. The pilot CBT reviews helped to facilitate work in other IMF workstreams, notably the Financial Sector Assessment Program (FSAP), Article IV consultations, and Technical Assistance.
