Effective Coordination Between Central Banks and Ministries of Finance (by Invitation)

High Level Meeting: June, 2019IChisinau, MoldovaIBudget Preparation and Execution, Central Banking

Central banks and ministries of finance have various points of interaction, where they share information and coordinate their actions, while perserving autonomy. However, considerable differences how this is done are observed across SEE countries. At the event, we will discuss the division of roles and responsibilities between these two institutions with the aim of identifying coordination and information sharing practices that provide additional support to carry out their mandates.

At this occasion, we will touch upon governance, by drawing a distinction between different types of frameworks, objectives, and toolkits for safeguarding their interests. By sharing experience, we will establish a joint understanding of existing approaches and formal mechanisms designed to resolve differences between central banks and ministries of finance. Moreover, we will assess how greater accountability allows to foster the culture of open and transparent communication of no surprises.

This event will provide insights into sound practices from international community, by stimulating discussions and creating platform for sharing experience. The aim of the event is to:

  1. provide overview of interaction points between ministries of finance and central banks and raise awareness of their importance;
  2. aknowledge the joint impact on country's economic governance in both EU membership and EU accession contexts;
  3. determine factors enabling effective communication between the two institutions and their communication with external audiences.

Target audience

CEF Governing Board members and other central bank and ministry of finance boards and senior management who are directly involved in accountability processes and effective policy-making, as well as representatives of governor's/minister's offices, board secretariats, chief financial officers and heads of legal services. Up to two representatives per institution will be invited to the event.

Partners

This learning initiative is supported by:

Bank of Slovenia Slovenia's Development Cooperation