Mediterranean Central Banks debate their role to preserve macroeconomic stability in an uncertain context

31 October 2022 | Corporate news

The conference “Building Resilience in Uncertain Times: Safeguarding Financial Stability, Encouraging Investments”, which is being held today in Istanbul, is attended by the governors of the central banks of Türkiye, Spain, Greece, Tunisia, Croatia, Malta and Libya, as well as senior representatives of the Central Banks of Italy, Morocco and the OECD.

The conference addresses the role central banks should play to guarantee financial stability threatened by the economic, energy and geopolitical tensions exacerbated by the war in Ukraine. The dilemma between the attenuation of inflationary pressures and the need to preserve favorable financing conditions in the period following the Covid-19 crisis, especially in the southern Mediterranean, is also at the center of the discussions.

The meeting, which is taking place at the OECD Istanbul Centre, is also assessing the impact of digital finance on economic and financial integration and identifying the good practices that central banks can adopt in the face of innovations in the financial system. It’s also exploring the prospects for improving the business climate and the development of infrastructures in the Mediterranean region.

The central bank governors who are taking part in the conference are Şahap Kavcıoğlu (Türkiye), Pablo Hernández de Cos (Spain), Marouane El Abassi (Tunisia), Saddek Omar Ali ElKaber (Libya), Yannis Stournaras (Greece), Edward Scicluna (Malta) and Boris Vujcic (Croatia).

The conference also includes Álvaro Santos Pereira, Acting Chief Economist and Director of Country Studies of the Economic Department of the OECD; Senén Florensa, President of the Executive Committee of the IEMed, Silvia Vori, Deputy Director of Economy, Statistics and Research of the Bank of Italy; Mohamed Taamouti, director of economic studies at Bank Al-Maghrib (Morocco) and Hakim Ben Hammouda, former Minister of Finance of Tunisia.

The 2022 Conference of Mediterranean Central Banks is co-organised by the Banco de España, the Central Bank of the Republic of Türkiye, the OECD and the European Institute of the Mediterranean (IEMed).