BCV and Bank of Spain deepen technical cooperation in Bangkok

The Central Bank of Venezuela and the Bank of Spain held a bilateral meeting to define the scope of technical assistance in statistics.

The meeting took place on the sidelines of the Annual Meetings of the International Monetary Fund held in Bangkok, Thailand. This forum for cooperation seeks to review priority areas of work, applicable methodological standards, and the conditions for implementing technical assistance by international organizations and central banks.

For the issuing institution, the quality and timeliness of economic and financial statistics are a fundamental pillar of monetary policy. Having robust data that are comparable internationally improves the accuracy of economic decision-making.

This rapprochement with European central banking and multilateral organizations marks a relevant step in the review of the methods used to measure and record the country's economic activity.