Foto: Mark Henley/Panos
Central banks as development actors
A well functioning central bank is a key factor to development in any country. The central bank oversees the monetary policy, ensures that the financial market is stable and that payment mechanisms are efficient. Thus, the central bank is a key enabler for all aspects of development.
An important, but not very well-know actor in the Swedish development cooperation is the Swedish Central Bank (Riksbanken), which co-operates with central banks in several countries. The purpose is to strengthen the effectiveness of the recipient central banks through technical assistance and contribute to economic stability and developments in these countries.
Riksbanken is currently providing technical support to central banks in several countries, including Ukraine, Kenya and Palestine.
"We are colleagues sharing our experiences, often on very hands-on issues. We are an enabler, but it is always our partners that must work out the solutions," says Stefan Ingves, Governor of the Swedish Riksbank.
Listen to interviews with Stefan Ingves, Dmytro Sologub of the National bank of Ukraine and Patrick Ngugi Njoroge of the Central Bank of Kenya.