Accountability, transparency key factors for central banks to deliver their mandates: Lagarde

Accountability, transparency and effective communication were key components for central banks to be credible in delivering their mandates, Christine Lagarde, IMF Managing Director said.

She confirmed at a press conference held during the capping of the annual IMF/World Bank annual spring meetings that importance central bank’s independence in setting fiscal policies.

Speaking at meeting, Lagarde added that said central bankers spoke of the need to accountable to the public as well as transparent in their decision making and to communicate their policies clearly.

“All of them were saying we need these three components to be credible and in order to deliver on our mandate,” she said.