The IMF found that since the crisis had begun, the Central Bank had taken substantive steps to rebuild its functions in financial regulation and supervision, including changes in the institutional setting, changes of senior staff, increases in the quantity, albeit from a very low base, and calibre of supervisory staff.
Its strong track record of prudent policymaking has led to robust external balance sheet, healthy public finances, and positive macroeconomic performance seen in recent years. The country’s strong fundamentals has provided a degree of resilience during the current pandemic shock.