13.2

The PMA started publishing its indicator for the business cycle (PMABCI) on a monthly basis since November 2012. 


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Research and Monetary Policy Department (RMD)

Research and Monetary Policy Department (RMD) is responsible for providing the informational and analytic basis for developing and implementing monetary policy. The main duties of RMD are; providing substantial input in strategic decisions, contributing to PMA transparency and accountability through high quality publications, such as Annual Reports, Financial Stability Reports, Inflation Reports, Statistical Bulletins, Working Papers, and others. And being responsible for the monetary policy and to act as an advisor to the Government.


The RMD is composed of three main divisions of Statistics, the library, the research and fundamental analysis group.


Monetary Operations Department

The Monetary Operations Department is responsible for the management of the foreign exchange reserves of the PMA, formulation of reserve management guidelines, operation of the PMA SWIFT connection, execution of the government's foreign debt service obligations, and monitoring bank compliance with minimum reserve requirements.


The Monetary Operations Department consists of two divisions: Reserve Management Division and Monetary Operations Division.