“The latest crises have highlighted the need for central banks to be agile and to respond to rapidly changing circumstances in order to help ensure the stability of the financial system. It has become clear that research into advanced monitoring tools will be key to strengthening the banking sector’s resilience to internal and external shocks”, stated Octavian Armașu, head of the National Bank of Moldova, during the 8th Research Conference dedicated to the 30th anniversary of the monetary independence of the Republic of Northern Macedonia. The event was organized by the central bank of this country, together with the European Investment Bank, in Skopje, IPN reports.

The motto of the conference was: “Building resilience in times of crisis: the role of policies”. According to a press release from the NBM, the event aimed to encourage a research-based approach in the work of central banks. The event brought together representatives of central banks, research and academic institutions, as well as representatives of international organizations in the region and in the European Union.

In the context of the global recovery from the pandemic and the growing geopolitical risks, the event focused on the impact on emerging markets and the mix of appropriate policies on the changing environment. Discussions addressed a number of topics, including private sector access to finance, growth potential, financial stability and the new challenges facing central banks in the post-pandemic period, lessons from the crisis and possible regulatory improvements and monitoring tools for further strengthening the banking sector.