Breaking
Fri. Mar 1st, 2024

 

By Godfrey Olukya 23-4-2013

Arrangements are in final stages to train at least 200 officials from Sub-Saharan Africa every year in financial management courses.

This follows the signing of memorandum of understanding between International Monetary Fund and authorities in Mauritania last evening.

A statement released on behalf of IMF said that the Deputy Managing Director of IMF, Nemat Shafik and the authorities of Mauritius signed a memorandum of Understanding on Mauritius’ support for the organizations’ new Africa Training Institute.

The Memorandum specifies the contribution that Mauritius is providing, which covers the costs of accommodating and training over 200 sub-Saharan African country officials per year through two-week courses, as well as housing and equipping the Institute.

The Australian Agency for International Development and the Chinese authorities have also pledged financial support for the Institute, which will start operations in June 2013 and serve the whole of sub-Saharan Africa. Mauritius already hosts a Regional Technical Assistance Center for Southern Africa, known as AFRITAC South.

‘Mauritius is one of only a handful of leading middle-income countries in the world that partner with the IMF to support capacity development activities. With its financial support for AFRITAC South and the Africa Training Institute, the government of Mauritius signals its clear vision toward becoming a knowledge hub for Africa, especially on macroeconomic issues,’. Shafik said at a signing ceremony.

The Africa Training Institute will offer courses and seminars for officials from central banks, ministries of finance, and other government agencies from across sub-Saharan Africa.

Training will cover macroeconomic policy making and financial programming, public finance, exchange rate and monetary policies, economic integration, and financial sector issues, including banking supervision. The training will complement the activities of the IMF’s Regional Technical Assistance Centers in Africa (AFRITACs), and other regional initiatives.

The IMF offers technical assistance and training to member countries in addition to economic and financial surveillance, and lending operations. The IMF’s technical assistance helps member countries develop more effective institutions, legal frameworks and policies to promote economic stability and growth, while training strengthens the capacity of member countries’ officials to analyze economic developments and formulate and implement effective policies.

In the year ending April 30, 2012, some 7,800 officials from member countries attended IMF training courses at headquarters in Washington, D.C., and at various locations around the world, including donor-supported regional training centers in Austria, Kuwait, and Singapore.

END

By

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *