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QUARTERLY NEWSLETTER
August – October 2023
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AFRITAC East (AFE) is part of the IMF’s global network of Regional Capacity Development Centers. This quarterly newsletter covers highlights of the support provided to member countries over the period August – October 2023.
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Highlights by Xiangming Li
AFE Center Director
xli@IMF.org
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Welcome to this edition of the newsletter; below are highlights of AFRITAC East’s activities in the second quarter of the financial year 2024.
Debt Management: Supported South Sudan’s authorities in creating a database and monitor debt evolution. Assisted Ethiopian authorities in identifying constraints to government securities market functionality and developing a reform plan.
Financial Supervision and Regulation: Supported the National Bank of Ethiopia (NBE), the Reserve Bank of Malawi (RBM), and the National Bank of Rwanda (NBR) to enhance risk-based supervision (RBS), strengthen cybersecurity regulations and supervisory frameworks, and facilitate the transition to Basel III and IFRS 17. Additionally, 1 regional webinar and 1 virtual workshop covered the key elements of the Basel Core Principles (BCP) for effective banking supervision and the recently issued consultation paper on the revisions to the BCP.
Forecasting and Policy Analysis System: The National Bank of Rwanda received support in further improving its nowcasting tools. A joint regional workshop on forecasting and policy analysis systems (FPAS) supported participating central banks in monetary policy analytical and forecasting capabilities.
Government Finance Statistics: Uganda and Zanzibar received support in enhancing government finance statistics (GFS) and public sector debt statistics (PSDS).
Monetary Policy and Operations: AFRITAC East participated in an MCM mission to conduct a foreign exchange market diagnostic assessment in Rwanda.
Public Financial Management: Supported South Sudan through training, development, and utilization of its Macrofiscal Framework to develop a draft resource envelope for the FY2024/25 budget process. South Sudan was also supported in developing their Cash Management Plan for FY2023/24. Assisted Zanzibar’s planned phased transition to accrual accounting to strengthen its financial reporting. Zanzibar's Office of the Treasury Registrar received support to improve fiscal oversight for Public Corporations. The Ministry of Finance and Economic Planning in Rwanda received support in preparing the Planning and Budget Outlook Paper and strengthening expenditure rationalization.
Real Sector Statistics: National training workshops were conducted in Kenya, Rwanda, and Uganda. Kenya was supported in developing the Export and Import Price Index, while Tanzania was supported in developing the Institutional Sectors in national accounts.
Revenue Administration: Kenya Revenue Authority (KRA) received big data analytics training, while Malawi was assisted in developing its Information Communication Technology (ICT) Strategy implementation plan. Five member countries participated in a workshop on data and report management for the International Survey of Revenue Administration (ISORA). All member countries participated in the Regional Workshop to develop audit skills in the Excise Tax and Telecommunications sector and the use of ICT tools to conduct audits.
Regional Workshops: There were 7 regional workshops conducted during the quarter and 2 regional webinars.
Coming Activities and TA Dissemination: Table 1 (p. 9) is an updated calendar of activities through January 2024. Table 2 (p. 13) lists TA reports uploaded on the Institutional Repository.
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SUPPORT PROVIDED TO MEMBER COUNTRIES IN THIS QUARTER (FY2024 WORK PROGRAMME)
Table of Contents
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UPCOMING ACTIVITIES AND REPORTS PRODUCED BY THE CENTER
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AFE is a collaborative venture between the International Monetary Fund (IMF), the recipient countries, and bilateral and multilateral development partners. It originated from the IMF’s response to African leaders call on the international community to increase technical assistance (TA) to Africa and focus it more sharply on capacity building. AFE provides TA and training to Eritrea, Ethiopia, Kenya, Malawi, Rwanda, South Sudan, Tanzania (including Zanzibar), and Uganda.
DEVELOPMENT PARTNERS
MEMBER COUNTRIES
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