Systemic risk management and fiscal policy, a common objective: Financial stability
Abstract
This paper proposes a perspective on financial stability from the perspective of systemic risk management, highlighting the relevance of fiscal policy for the assessment, identification of threats, and timely and efficient mitigation. It suggests, as part of strengthening the financial stability network, the creation of the Financial Stability Council with the participation of the Ministry of Economy, the Ministry of Finance, and the Central Bank. This Council aims to achieve the objective of contributing from the financial system to the orderly development of the Cuban economy. To this end, the system must be capable of managing the risks inherent in its operations, as well as those that may arise because of adverse events.
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