苏里南：技术援助报告；金融稳定、货币政策和央行沟通

TECHNICALASSISTANCEREPORT SURINAME Financial Stability, Monetary Policy,andCentralBank Communication JANUARY2025 PreparedByPetr Jakubik(Resident Financial Stability Advisor)and Marek Petrus(Short-term Expert) MEMBERS Anguilla, Antigua and Barbuda, Aruba, The Bahamas, Barbados, Belize, Bermuda, British Virgin Islands,Cayman Islands, Curaçao, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St.Lucia,St. Maarten,St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands PARTNERS Canada, United Kingdom, European Union, Netherlands, Mexico,USAID,Caribbean Development Bank, EasternCaribbean Central Bank DISCLAIMER Thecontents of this document constitute technicaladviceprovided bythestaff of theInternational MonetaryFund totheCentral Bank ofSuriname(the"CDrecipient") inresponse totheirrequest fortechnical assistance.Thisdocument(inwhole or inpart) or summariesthereof maybedisclosedbytheIMFto the IMFExecutiveDirector forSuriname, to other IMF Executive Directorsandmembers of their staff, aswell asto other agenciesorinstrumentalitiesof theCD recipient, andupon their request, to World Bank staff, andother technicalassistanceproviders and donorswith legitimateinterestincludingmembers of theSteering CommitteeofCARTAC, unless the CDrecipientspecificallyobjectstosuchdisclosure (seeOperational Guidelines for theDissemination of Technical Assistance Information). Publication or Disclosure ofthis report(inwhole or inpart)to parties outsidetheIMFotherthan agencies orinstrumentalitiesofthe CDrecipient, WorldBank staff,othertechnicalassistance providers anddonorswithlegitimateinterestincludingmembers oftheSteering CommitteeofCARTACshall requirethe explicit consent oftheCD recipient andtheIMF’sMonetary and Capital Marketdepartment. PARTNERS Executive Summary The mission focused on strengthening theCentral Bank of Suriname's (CBvS) communication onmonetary policy and financial stability.Effective communication is critical to enhancing the CBvS’s credibilityand improving the effectiveness of its policies. Transparent and consistent messaging helps build public trust,anchor expectations, and foster accountability. The mission conducted athorough evaluation of the CBvS’sexistingcommunicationframeworks,identifyingkeychallengesrelatedtotransparency,consistency,andstakeholder engagement. The recommendations provide a roadmap for adopting international best practices toalign the CBvS’s communication strategies with those of leadinginflation-orientedcentral banks. By implementing these recommendations, the CBvSwillstrengthen stakeholder confidence, andbe betterequipped toeffectively fulfill its mandateofachievingprice and financialstability.Key reforms includeintroducing systematic communication processes and integrating them into the CBvS’s broader operational andstrategic frameworks. These measures will also help the CBvS improve its ability to guide market expectationsand respond effectively to economic and financial developments. Institutionalizing structured monetary and financial stability decision-making processes is critical foreffective governance.The mission recommends establishing fixed schedules for Monetary Policy AdvisoryCommittee (MPAC)and Financial Stability Advisory Committee (FSAC)meetings and Executive Board reviewsto ensure regular assessments of policy adequacy. Enhanced scheduling, with eight monetary policy meetingsand four financial stability-focused sessions annually, will enable timely responses to economic developments andensure operational efficiency. These structured processes will form the backbone ofa moretransparent andpredictable decision-making at the CBvS.In addition to the regularmonetary and financial stabilitymeetings,additional ad-hoc meetings could be scheduled in cases of any unforeseen circumstances. Transitioningtoaninflation-focusedcommunicationstrategyisessentialformanagingmarketexpectations andenhancingpublic confidencein sustaining a stable inflation environment.The CBvSshould prioritize developing and publishing a Monetary Policy Statement (MPS) following policy decisions,complemented by regular press conferences led by the Governor to explain the decisions in a clear and accessiblemanner. Introducing a forward-looking Monetary Policy Report (MPR) as a flagship publication will enhancetransparency by providing stakeholders with deeper insights into inflation trends, policy rationales, and the CBvS’slong-term objectives. ImprovingfinancialstabilitycommunicationisequallycriticalforreinforcingtheCBvS’sroleinsafeguarding macroeconomic stability.The FSAC should play a central role in quarterly financial stabilityupdates, culminating insystematicExecutive Board reviews. Regular publication of the Financial Stability Report(FSR) and interimreviewupdates, alongside press conferences and targeted seminars, will promote trust andaccountability while addressing systemic risks. These measures will also help establish the CBvS as