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The representatives of the East African Monetary Affairs Committee met in Juba to attend the 18th meeting of the Working Group on Macroprudential Analysis, Stress Testing, and Statistics, hosted by the Bank of South Sudan.The meeting, which runs from November 25 to 29, aims to enhance regional financial stability and address key emerging risks.
The meeting will cover critical issues, including reviewing the guidelines for analyzing interconnectedness within the financial sector, identifying systemically important banks, and assessing overall financial stability in the region.Participants will also discuss the progress of implementing macroprudential policy and the use of stress tests to evaluate banks.Samuel Yanga Mekaya, the First Deputy Governor of the Bank of South Sudan, highlighted the growing threats to financial systems in the region, especially climate change and cybercrime.
He called on the delegates to engage in intensive discussions to develop practical solutions to these challenges.Chan Andrea Chan, Director General of Banking Supervision and Financial Stability, emphasized the importance of enhancing close cooperation between East African Community member states.
The five-day meeting is expected to conclude with actionable recommendations aimed at strengthening regional financial stability.
