YEREVAN, May 23. /ARKA/. The new Second Generation Policy Analysis and Forecasting System (FPAS Mark II) launched by the Central Bank of Armenia in 2024 was highly appreciated by the participants of the conference “Implementation of Macroeconomic and Structural Policies in a Changing Global Economic Environment”.
The system was presented to the participants of the conference held in Cairo on May 18-19 by Chairman of the Central Bank of Armenia Martin Galstyan, the regulator’s press service reports.
The First Economic Research Conference was organized by the International Monetary Fund (IMF) in cooperation with the American University in Cairo.
The conference, attended by representatives of internationally and regionally renowned academic and research circles, as well as policy makers, discussed such topics of regional importance as fiscal and monetary policies, financial stability, industrial policy, green energy, artificial intelligence and the future of the labor market.
FPAS II builds on the previous FPAS system by emphasizing the role of uncertainty and transparency in the monetary policy implementation process (MPI).
According to the Central Bank, the new framework provides constructive and fundamental thinking to view MPI as risk management and implementation of minimum loss policies.
The new framework emphasizes increased transparency by providing a clearer picture of the decision-making process. By treating MPI as a risk management exercise, FPAS II enables better and more strategically coordinated decision making. -0-
