The Steering Committee (SC) of the International Monetary Fund’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) met virtually, on December 12, 2024, under the Chairpersonship of Hon. Rindra Hasimbelo Rabarinirinarison, Minister of Economy and Finance of Madagascar. She reiterated the critical importance of the hands-on tailored and practical implementation support that the Center is providing to the region, which is essential given the complex macroeconomic challenges facing southern Africa, including from shocks and geo-economic fragmentation and the wide-ranging structural reforms needed for higher and more inclusive growth. The Committee noted this is being undertaken against the backdrop of a very challenging financing outlook, which reinforces the importance of improving domestic resource mobilization, and efforts to improve debt management, and to attract external financing through improvements in the business environment.
The Steering Committee (SC) of the International Monetary Fund’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) met in Maseru, Kingdom of Lesotho, on June 27-28, 2024, under the Chairmanship of Mr. Lehlomela Mohapi, First Deputy Governor of the Central Bank of Lesotho. It discussed IMF and AFR strategies for capacity development (CD), the regional outlook for sub-Saharan Africa, workplan implementation over the past 12 months, the extensive workplan in the current fiscal year, and the alarming financing outlook. Particular focus was paid to strengthening public finances, including through leveraging the potential of digitalization and improving debt management
Capacity Development (CD) remains critical for the region. We are not guessing. We know because 1. CD demand is continually growing, 2. Members, by their own admission, indicate they prefer AFS Technical Assistance (TA) compared to that of other TA providers.
We have noted and welcome the CD delivery philosophy of FIT – Flexible, Integrated and Targeted.
Recent global economic activity has shown signs of resilience. Growth has been steady, even if uneven across regions and slow by historical standards. The fears around stagflation and global recession have subsided even as the world is still reeling from the long-term effects of Covid-19 and continues to grapple with the increasing geopolitical fragmentation. Headline inflation in most major economies is still to revert to its targets and central bank rates have been maintained higher. Encouraging developments is that inflation has receded
from the peaks of Mid-2022.
Keynote address by the Hon. Minister of Finance and Development Planning, Pfro. Ntoi Rapapa at the AFRITAC South Steering Committee Meeting in Maseru, Kingdom of Lesotho
Public Financial Management Hackathon
As part of the International Monetary Fund’s technical assistance to Lesotho, an in-person Public Financial Management Hackathon will be hosted in Maseru, Lesotho from January 24-26, 2023. The Hackathon is a chance to display cryptography, application programming interfaces, and coding talent in the region using open-source technologies. The participants will compete to develop a prototype for digital signatures to improve the efficiency and effectiveness of public financial management processes.
Registration and submission of proposals close on December 21, 2022. The hackathon is open to residents of Sub-Saharan Africa. All traveling costs are covered, including accommodation, meals, and local travel in Lesotho. Hackathon website: lesothopfmhackathon.com
AFRITAC Sud étend les services de développement des capacités afin d’aider ses membres à faire face à de multiples chocs
AFRITAC South expands capacity development services to help members to respond to multiple shocks
AFRITAC South Steering Committee endorses the capacity development plan for FY23 and the new phase (FY24-FY28) with increased focus on governance, climate, gender, digitalization, and data.
High-Level Conference: Modernizing Monetary Policy in Sub-Saharan Africa
During the last three days, high-level central bank officials and leading world experts exchanged views on how to further modernize monetary policy frameworks in sub-Saharan Africa. The discussions—moderated by senior IMF staff—covered timely topics for central banks.
High-Level Conference: Modernizing Monetary Policy in Sub-Saharan Africa
The past two decades, which saw the Global Financial Crisis and the COVID-19 pandemic, have underscored the need for effective policy responses to large shocks. In particular, it has changed the way the Economics profession thinks about monetary policy. In Sub-Saharan African (SSA) countries, that change, combined with recent COVID-19 crisis, has prompted a robust demand among policymakers to better understand the effects of monetary policy and its transmission channels to help them devise mitigating strategies and appropriate policy responses to similar shocks in the future. It has also served to illustrate the need for clear and consistent monetary policy frameworks and effective communication of policy decisions.
Thus, even amidst the current challenging environment, SSA central banks have continued to modernize and develop their monetary policy frameworks. The IMF has long supported modernization of monetary policy in the SSA region and more recently responded to the increased regional demand for capacity development (CD) in critical areas for policy at the backdrop of the COVID-19 crisis, including monetary policy. For instance, the IMF’s Regional Technical Assistance Centers in Africa have responded with technical assistance (TA) missions and targeted CD events to assist central banks in managing monetary policy implementation and forecasting. The Africa Training Institute (ATI) expanded its training operations in FY21 in the area of monetary, exchange rate, and capital account (MERC) policies, and is hosting three times as many courses offered by the IMF’s Monetary and Capital Markets Department in FY2022.1 This Conference will provide an opportunity for high-level officials in SSA central banks to reflect upon the reforms implemented in the recent past and discuss ways to move forward, inspired by the regional experience and prominent world experts in the area of monetary policy
The latest issue of our quarterly Bulletin features:
1. The center’s capacity development activities during
August to October 2021;
2. TA Reports Issued;
3. The forthcoming Planned CD Activities and;
4. Analytical Corner
The latest issue of our quarterly Bulletin features:
1. The center’s capacity development activities during
November 2021 to January 2022;
2. TA Reports Issued; and
3. The forthcoming Planned CD Activities (November 2021-January
2022)
4. Analytical Corner
5. Staff Announcement
The latest issue of our quarterly Bulletin features:
1. The center’s capacity development activities during
May to July 2021;
2. CD Activities -August to October 2021;
3. The forthcoming CD Activities; and
4. Staff News.
IMF’s AFRITAC South (AFS) Steering Committee endorses the launch of a new funding program on debt management and calls for further work on governance and corruption, gender, climate, big data, and digitalization
The 2021 AFRITAC South (AFS) Steering Committee Meeting was held virtually on June 11 and 14. Member countries and development partners discussed the concrete outcomes of AFS capacity development (CD) in revenue mobilization, public finance management and financial stability and inclusion, and medium-term CD priorities. The meeting was chaired by Dr Kealeboga Masalila, Deputy Governor of the Bank of Botswana and incoming Chair of the Steering Committee.
The latest issue of our quarterly Bulletin features:
1. The center’s capacity development activities during
November 2020 to January 2021;
2. TA Reports Transmitted to Authorities;
3. The forthcoming CD Activities;
4. IMF Free online courses; and
5. Staff News.
[Vacancy Closed] Vacancy for post of Economist Analyst
[VACANCY CLOSED]--VACANCY—ECONOMIST ANALYST
Applications are being solicited for the position of Economist Analyst at AFRITAC South (AFS) –the capacity development arm of the IMF. The center mainly supports countries in the Southern Africa and West Indian Ocean region through technical assistance and training in core macroeconomic and financial management areas (public financial management, revenue administration, banking supervision, monetary policy operations, financial and fiscal law, and statistics). The key objective is to assist countries in implementing reforms to address macroeconomic challenges and to make progress on the regional integration agenda.
This is a full-time position with an initial appointment term for one year (renewable). The economist analyst will work under the general supervision of the Center Coordinator. More specifically, the duties will encompass the following:
• Undertake systematic monitoring, assessment and evaluation of economic developments/policies in the region;
• Collect and analyze data and prepare a variety of written and statistical outputs;
• Carry out research work on topical issues;
• Prepare country notes taking into account capacity development priorities and IMF surveillance work;
• Assist in finalizing reports for the center (annual reports, program documents, etc); and
• Perform other duties as required for the smooth functioning of the center.
The above tasks imply frequent interaction with office staff at all levels and IMF Headquarters staff.
Results Expected: The economist analyst is expected to consistently demonstrate the ability to work both independently and in team.
Qualifications and Experience:
• MA/PHD in macroeconomics, financial economics, or relevant fields, e.g., international economics, monetary economics, public finance, econometrics, machine learning, labor economics, political economy, or international trade and finance, or equivalent combination of education and experience.
• Proficiency in software applications is required, e.g., Excel and or econometrics packages (EViews,) together with a knowledge of statistical and econometrics techniques and macroeconomic relationships.
Application process and deadline:
You are requested to apply online on above link attaching your CV and a motivation letter by Friday January 22, 2021 at latest .
LINK TO APPLY:
https://www.myjob.mu/Jobs/Economist-Analyst-108181.aspx
In case of any clarification/information, you may contact Mr. D. Chundunsing through email at DChundungsing@imf.org.
The latest issue of our quarterly Bulletin features:
1. The center’s capacity development activities during August to
October 2020
2. TA Reports Transmitted to Authorities; and
3. The forthcoming CD Activities.
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during May to
August 2020
2. feedback from participants in AFS Webinars;
3. Staff news; and
4. the forthcoming CD Activities.
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during February to
April 2020
2. feedback from participants in AFS Webinars; and
3. the forthcoming CD Activities.
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during November 2019 to
January 2020
2. feedback from participants in AFS training;
3. the forthcoming AFS seminars.
4. Staff news; and
5. AFS Steering Committee
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during August to October 2019;
2. feedback from participants in AFS training and;
3. the forthcoming AFS seminars.
Registration for the 2020 Fund Challenge is now open to all eligible undergraduate students from universities in the Africa, Asia, Middle East, Central Asia, and the Caucasus.
Test your understanding of macroeconomic analysis by competing in the second annual Fund Challenge. Eligible undergraduate students from universities in the Africa, Asia, Middle East, Central Asia, and the Caucasus may register. See details and registration instructions.
AFRITAC South in collaboration with SARB Academy, organized a seminar on Monetary Policy Implementation and Financial Market Development during August 26-30, 2019 in Pretoria, South Africa. In opening the week-long seminar on August 26, 2019, the Deputy Governor of the SARB Academy, Mr. Kuben Naidoo stated that the topic chosen is very pertinent particularly because of the global financial crisis (GFC) and the disruptions caused to the central banking world.
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during May- July 2019;
2. feedback from participants in AFS training and;
3. the forthcoming AFS seminars.
AFRITAC South organized a seminar on International Financial Reporting Standards (IFRS) – Implementation Issues for banking supervisors/regulators of 11 member countries. In opening the week-long seminar on August 19, 2019, the Governor of the Bank of Mauritius, Mr Yandraduth Googoolye stated that AFRITAC South has been instrumental in promoting capacity building in this side of the continent. It has hosted a few seminars on International Financial Reporting Standards (IFRS) for countries in Sub-Saharan Africa to enable them to prepare for the implementation of IFRS 9.
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during February- April 2019;
2. feedback from participants in AFS training;
3. the forthcoming AFS seminars and IMF free online courses; and
4. announcements.
The 10th Steering Committee of the International Monetary Fund’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) met in Luanda, Angola on March 27-28, 2019.
In her welcome remarks, Angola’s Secretary of the State Mrs. Aia Eza Da Silva emphasized the importance of capacity development (CD) for economic transformation, boosting job creation, and reducing poverty. She stressed the increased importance of sound public institutions to foster development in a challenging macroeconomic environment characterized by rising debt and increasing infrastructure needs.
From a technologist’s perspective and given the unique fintech developments in South Africa, how will technology-driven innovation make a lasting impact?
This is an important question. Innovation making a lasting impact means that it delivers to the most important stakeholder – the people, the consumer. So how will fintech be able to do this from a technological perspective? Here’s a perspective that I like to think of as 5 S’s
An opening address by Arif Ismail, Head of Fintech at the South African Reserve Bank (SARB),
at the IMF AFRITAC South Fintech Seminar, The Sheraton Hotel, Pretoria,18 March 2019
The fintech frenzy: fad or financial sector transformer?
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during November
2018 - January 2019;
2. feedback from participants in AFS training;
3. the forthcoming AFS seminars and IMF free online courses; and
4. announcements.
Joint Press Release
European Union - International Monetary Fund
EU Supports the IMF’s Technical Assistance Centre, AFRITAC South, with Rs 800 Million
Hon Minister D. Sesungkur stated "The Government of Mauritius and our people take much pride that the IMF has hand-picked Mauritius to host an AFRITAC antenna to cover the Southern African region. Indeed, the presence of AFRITAC South in Mauritius over the past seven years has gone a long way to further consolidate bilateral ties among the 13 member countries being served by this learning centre."
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during August - October 2018;
2. feedback from participants in AFS training;
3. the forthcoming AFS seminars and IMF free online courses; and
4. announcements.
BANK OF MAURITIUS AND AFRITAC SOUTH PARTNER FOR AN ORIENTATION PROGRAM FOR NEW CENTRAL BANK RECRUITS
October 22—26, 2018
Opening address by Mr. Vikram Punchoo, Second Deputy Governor of the Bank of Mauritius at the Seminar on Impact of Basel III reforms in the implementation of Basel II/III in Emerging Market and Developing Economies.
The latest issue of our quarterly Bulletin features:
1. the center’s capacity development activities during February – April 2018;
2. interview of AFS resident advisor on IMF’s new results-based management framework;
3. feedback from participants in AFS training;
4. the forthcoming AFS seminars and IMF free online courses; and
5. announcements.
AFRITAC South seminar on revenue administration leadership from March 19 to 23, 2018 held in Livingstone, Zambia.
Accomplishments of AFRITAC South countries in National Account Statistics.
The 9th Steering Committee of the International Monetary Fund's Regional Technical Assistance for Southern Africa (AFRITAC South) met in Victoria Falls on March 14-15, 2018
Opening Remarks by Mr. W.L Manungo, Secretary for Finance and Economic Development, Zimbabwe
The latest issue for our quarterly bulletin, features:
1. the center’s capacity development activities during November 2017 – January 2018;
2. feedback from participants in AFS training;
3. the forthcoming AFS seminars and IMF free on-line courses; and
4. announcement.
Opening address by Mr.Yandraduth Googoolye, First Deputy Governor of the Bank of Mauritius at the workshop on Legal Aspects of Financial Market Infrastructures
The latest issue of our quarterly bulletin, features:
1. the center’s capacity development activities during August – October 2017;
2. feedback from participants in AFS training;
3. the forthcoming AFS seminars and IMF free on-line courses; and
4. staff news.
Opening Address by Mr. D. Paligadu, Director, Mauritius Ministry of Finance and Economic Development at the Seminar on Prevention and Management of Government Expenditure Arrears
This issue of the quarterly bulletin, in addition to the quarter’s capacity development activities, features:
1. An interview with the outgoing Australian High-Commissioner on her three-year close
collaboration with AFRITAC South and the Africa Training Institute (p. 1)
2. A box on Madagascar’s release of rebased national accounts (p. 1)
3. A quote commenting on the peer-to-peer attachment featuring Lesotho and Swaziland
(p. 5)
4. A box on the Bank of Mozambique’s modernization project (p. 6)
AFS concluded FY17 with a higher volume of TA delivery – mainly supported by good traction in most AFS countries and more regional initiatives, including regional seminars and peer learning activities.
In the past nine months AFS executed 71 percent of its planned annual technical assistance (TA) and training, transmitted over 75 TA reports, and conducted 13 regional seminars/courses. In addition, it delivered a number of tailored workshops and on the-job training during field visits. With increased traction in most countries and additional regional activities, the volume of TA is expected to exceed the initial plan by over 10 percent.
During the first six months of FY17 AFS executed some 256 field person-weeks of TA, representing 46 percent of the plan, transmitted over 55 TA reports and conducted eight regional seminars/courses. These were supported by tailored workshops and on-the-job training during field visits. Based on current information, the center is expecting to exceed the volume of TA delivery during FY17 , which broadly reflects increased traction in some countries.
This bulletin is an update on the implementation of the FY17 work plan in the first quarter (May -July 2016). AFS delivered some 122 field person-weeks of technical assistance (TA) across member countries, transmitted 29 TA reports to government agencies, and conducted four regional seminars in addition to the tailored workshops and on-the-job training provided during TA field visits/missions.
The AFS Steering Committee met in Ebene, Mauritius, on March 31- April 1. It endorsed the work plan for FY17, including greater flexibility for the reallocation of resources during implementation, thereby allowing AFS greater agility and responsiveness for improving execution. The FY17 work program will continue to be integrated with IMF HQ-led TA and will complement development partner initiatives in AFS member countries.
Public Financial Management: AFS TA supported countries to further improve budget and fiscal frameworks, strengthen inter-agency coordination, and make progress towards improving fiscal transparency, reporting, and risk management (Botswana, Lesotho, Mauritius, Madagascar, Mozambique, and Zambia).
