The Central banks from Portuguese-speaking countries have reached a new milestone in their cooperation by establishing a permanent network designed to strengthen technical exchanges and address shifts within the financial sector.
This development followed their 13th meeting, held in Luanda, Angola and the participation of Jean-Claude Kassi Brou, Governor of the Central Bank of West African States (BCEAO) and concluded with the signing of a memorandum of understanding to establish the Network of Central Banks of Portuguese-Speaking Countries (BCPLP).
This platform aims to structure consultation among the participating monetary institutions and foster the sharing of experiences in areas strategic to the stability and modernization of financial systems.
The governors also approved the creation of several working groups, focusing on topics such as payment systems, financial inclusion, crisis management, external statistics, cybersecurity and artificial intelligence.
The establishment of this network comes at a time marked by the digital transformation of financial services and the emergence of new risks, to which monetary authorities must adapt their supervisory mechanisms.
The Central Bank of West African States (BCEAO) participation in this initiative is part of its broader international monetary cooperation efforts, particularly given the membership of Guinea-Bissau – a
Portuguese-speaking nation that is also a member of the West African Monetary Union (UEMOA).
The Banco de Portugal will hold the network’s inaugural presidency in 2027. Its action plan includes, among other objectives, the development of institutional dialogue and technical cooperation among the member central banks.
The upcoming activities will include webinars focused on microcredit and the use of artificial intelligence in banking supervision.
The next meeting of the governors is scheduled for April 2027, on the sidelines of the International Monetary Fund and World Bank Group Spring Meetings.
TE/Sf/fss/gik/APA