Praia, Oct. 2, 2025 (Lusa) - The governor of the Bank of Cabo Verde (BCV) on Thursday defended ‘increasingly dynamic regulatory action’ in the face of technological innovations and adaptation to climate change, at the opening of a meeting of Portuguese-language central banks in Praia.
‘The rapid pace of technological innovation, the entry of new players into the financial sector, the transformation of payment systems, and changes in consumer behaviour are factors that have reconfigured the global financial sector,’ said Óscar Santos, host of the meeting.
As part of risk analyses for the economy and the financial system, ‘central banks have been developing new instruments and tools, such as climate taxonomies and sustainability disclosure requirements, to contribute to climate change adaptation and mitigation plans.’
‘These phenomena require increasingly dynamic and adaptable regulatory action, as well as effective articulation between monetary and macro prudential policies, enabling the execution of central bank mandates,’ he summarised, setting the tone for the meeting.
For the third time, the BCV is hosting the Meeting of Central Bank Governors of Portuguese-speaking Countries (BCPLP), the 12th edition of which has as its main theme ‘The evolution of central bank mandates: reconciling monetary and prudential policies’.
Although representatives of different realities are sitting at the table, Óscar Santos is in favour of sharing experiences on managing potential conflicts between price stability and financial stability, asking: what conditions are needed to reconcile monetary and prudential policies?
The meeting, which is taking place today behind closed doors in a hotel in the Cabo Verde's capital, includes interventions from the governors and representatives of the central banks of Angola, Brazil, Cabo Verde, Guinea-Bissau (Central Bank of West African States, BCEAO), Equatorial Guinea (Bank of Central African States, BEAC), Porto, Sao Tome and Principe, Timor-Leste and the Monetary Authority of Macau.
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