In 2021, Latvijas Banka continued to work within the framework of its vision, mission and strategic directions (see the chart) specified for the period up to the end of 2022. A comprehensive assessment of these directions and the results achieved to date suggests that Latvijas Banka succeeded in all four directions of strategic development: strengthening as the centre for analytical and research competence; developing a modern, secure and efficient payment infrastructure; fostering financial literacy, as well as the development of a modern, efficient and open central bank. In late 2021, 77% of the targets defined in the strategy were already reached. Moreover, the failure to reach most of the remaining goals is attributed to the external factors that are independent from Latvijas Banka, e.g. the adverse effects of the pandemic on the national economy and household sentiment. The overall conclusion is that Latvijas Banka is making a good progress in the implementation of its strategy, and in 2022 it will attain the objectives set by the strategy.

To monitor the implementation of Latvijas Banka's work plan, as well as to ensure effective horizontal coordination and cooperation of the structural units working to meet the strategic objectives, the current integrated task management system was upgraded to include a quarterly reporting module that allows to track the fulfilment of the structural units' work plans, and automatic compilation of this information in a dashboard available to all managers.