As part of MEFMI’s initiatives to upgrade bank supervisors’ skills, the Institute conducted an In-Country workshop on Risk Based Supervision and Prudential Micro Stress Testing for the Banco Nacional de Angola’s (BNA).  The workshop was conducted from 18 to 22 February 2019.  In an effort to enhance understating of this topical area by the target group as well as ensure effective implementation of risk based supervision in line with global standards, MEFMI conducted the workshop in Portuguese. This also helped to bridge the language gap that Angolan participants normally encounter in workshops. The facilitators were drawn from the Bank of Brazil.

The training was in line with the MEFMI Results Measurement Framework (RMF) under the Institute’s Phase V plan. The objective of the workshop was to enhance knowledge and practice of risk based supervision and stress testing for bank supervision in member states. The MEFMI Risk Based Supervision Guideline was the main reference document on risk based supervision principles. Reference was also made to the Bank of Brazil documents. The stress testing content of the workshop was built around the Cihak framework developed by Martin Cihak of the IMF. It is being adopted and implemented in a modified form by Central Banks in the region. With no language hindrance the presentations were well received and this was demonstrated by the level of interactive responses and interest generated by participants.

MEFMI is looking to continue to support BNA in developing their staff supervisory skills in the area of risk based supervision and stress testing.  This will be done in collaboration with Banco Central do Brasil and technical cooperating partners such as the IMF Monetary and Capital Markets (MCM) division and the AFRITACs. Plans to also re-engage Países Africanos de Língua Oficial Portuguesa (PALOP) to deliver a Portuguese workshop on the same topics for its member countries in Angola are also underway. PALOP is a group of Portuguese-speaking African countries that comprise Angola, Cape-Verde, Equatorial Guinea, Guinea –Bissau, Mozambique and Sao Tome and Principe. Working with PALOP will enhance MEFMI’s efforts in ensuring continued upgrading of skills in the region as a whole.

In addition, MEFMI will consider translating documents that are expected to be completed by participants in similar workshops to Portuguese. Documents such as the registration form and evaluation forms would also be translated to Portuguese.