Central Bank of Trinidad and Tobago Unveils Five-Year Strategic Plan

• The Central Bank of Trinidad and Tobago has launched a five-year strategic plan aimed at making the institution more agile, technology-driven and responsive to emerging risks as the financial and economic environment becomes more complex.
• Guided by the theme “Insight to Impact”, the plan focuses on identifying emerging risks and opportunities and translating them into outcomes that strengthen the bank, the financial system and the wider economy. Governor Larry Howai noted that monetary and financial stability will remain at the core of the bank’s mandate, but continued evolution is essential in a rapidly changing environment.
• The plan also introduces an evolved institutional vision for the central bank to become a premier, trusted and innovative institution committed to a resilient Trinidad and Tobago. It is built around three strategic themes, supported by eight strategic objectives and 23 projects aimed at strengthening economic management, safeguarding the financial system and enhancing the people, technology, data and processes that support the bank’s work.
• Successful implementation will depend not only on the initiatives outlined in the plan, but also on the bank’s ability to adapt as risks, technology and stakeholder expectations evolve. A stakeholder engagement session is expected in November to discuss the plan’s priorities, objectives and implementation.
• The new strategy signals a stronger emphasis on institutional agility, technology and data capabilities as the central bank seeks to strengthen its ability to identify and respond to emerging economic and financial-system risks, while maintaining monetary and financial stability as its core mandate.

(Source: Trinidad Express Newspapers)