By Adama Makasuba
The West African Institute for Financial and Economic Management in partnership with International Monetary Fund on Monday started a seven days course on Financial Soundness Indicators Bankers of English speaking West African countries in Banjul.
The course aims to enhance the understanding of participants on Financial Soundness Indicators and its analytical approaches to inter quite from statistical perspective.
Speaking at the opening ceremony, Khay Phousnith an official at IMF welcomed the training with delight adding 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 is also designed for government officials whom he said are involved in Financial Soundness Indicators either compiling or using Financial Soundness Indicators in their respective work places.
Speaking on behalf of 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 has heightened the vulnerability of the financial system.
He said the situation which has not left the West African sub-region out has necessitated improved compilation, aggregation, analysis and interpretation of financial data to adequately inform policy and ensure soundness of financial system.
Representing the governor of the Central Bank of The Gambia, Hon. Saikou Jabbi, deputy governor of CBG, said “ the ability to monitor financial soundness presupposes the existence of indicators that be used as a basis for analyzing the current health and stability of the financial system.”
He welcomed the training saying FSIs are aggregate measures of the current financial health and soundness of financial in a country.
