Seven-day financial soundness indicators course opens in Banjul
Banjul, Gambia (PANA) - The West African Institute for Financial and Economic Management, in partnership with the International Monetary Fund, opened a seven-day course on financial soundness indicators for bankers of English-speaking West African countries here Monday.
The course aims to enhance the understanding of participants on financial soundness indicators and its analytical approaches from the statistical perspective.
Speaking at the opening ceremony, Khay Phousnith, an official of the IMF, welcomed the training with delight, saying that “as of now, we have 138 member countries having reported Financial Soundness Indicators data and Meta data to the IMF for posting on its website”.
He said the course was also designed for government officials involved in either compiling or using Financial Soundness Indicators in their respective work places.
Speaking on behalf of the WAIFEM boss, Paul Mendy, said: “This course is being organized in a period of heightened risk of global trade wars, and potential downturn in output, which may threaten the soundness of financial system.”
He said the global financial economy characterized by a high degree of interconnectedness among financial Institutes had heightened the vulnerability of the financial system.
This situation, he said, had not left the West African sub-region out, necessitating improved compilation, aggregation, analysis and interpretation of financial data to adequately inform policy and ensure soundness of financial system.
Saikou Jabbi, deputy governor of CBG, representing the governor of the Central Bank of The Gambia, said “ the ability to monitor financial soundness presupposed the existence of indicators that could be used as basis for analyzing the current health and stability of the financial system”.
-0- PANA MSS/RA 30Jul2019
