On September 23, 2024, the International Monetary Fund (IMF) assessment team, led by the new Mission Chief Anna Shabunina, began its annual Article IV evaluation mission in the Republic of San Marino.
On the first day of the mission, the IMF delegation met with the President, the Managing Director, and the Heads of the Supervision Department of the Central Bank of San Marino (CBSM). They delved into the main dynamics that have impacted the banking and financial sector over the past twelve months.
During the meeting with the CBSM President, the delegation discussed the strategic challenges the Institute faces, also considering what was outlined in the Financial Services Protocol of the Association Agreement with the European Union, for which the signature is anticipated.
Subsequent technical meetings with the Managing Director and the representatives of the Supervision Department focused on the latest data on the state of health of the banking sector within an evolving macroeconomic framework and the results achieved in terms of international cooperation. Special attention was also given to the recent operation of Non-Performing Loan (NPL) securitization, addressing both the regulatory aspects and the operational progress.
Meetings with the Central Bank will continue on September 30 and in the following days, until the final evaluations of the mission are shared, which will preview the main contents of the staff report to be published in the following weeks.