The International Monetary Fund has successfully piloted the first evaluations using its Central Bank Transparency Code, an advisory progamme developed since 2020.

The fund reports its “recommendations received strong traction from the participating central banks”. Some, such as the Bank of Canada and Central Bank of Chile, have already made changes to their frameworks.

Dmytro Solohub, a senior financial sector expert in the fund’s monetary and capital markets department, stresses transparency