It is the Central Bank’s strongly held view that enforcement is critical to supervision, including to prudential supervision. Here also, the unfortunate experience of the Irish Financial Regulator of the previous decade has convinced us that the credible use of enforcement must be deployed to be an effective supervisor.
We encourage IFC and MIGA to play a galvanizing, entrepreneurial role in improving vaccine manufacturing capacity at the national or regional level, in coordination with other DFIs and partners in the private sector. International coordination, sharing of pandemic plans, and collaborative disease monitoring and diagnosis are necessary steps toward long-term health preparedness and resilience.