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QUARTERLY NEWSLETTER
May – July 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 May – July 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 AFE activities in the first quarter of financial year 2024.
Steering Committee News: Dr. Susan Koech, Deputy Governor of the Central Bank of Kenya, chaired a successful AFRITAC East Steering Committee meeting. During this two-day hybrid event in Dar es Salaam (July 12-13, 2023), the Committee listened to the presentations on new work areas such as building resilience to climate change and developing high frequency data, reviewed the FY 2023 program execution, and approved the FY 2024 work program.
Forecasting and Policy Analysis System: AFRITAC East supported the Central Bank of Tanzania (BoT) in developing its Forecasting and Policy Analysis System (FPAS) to facilitate the implementation of the new monetary policy framework.
Debt Management: AFE assisted the Government of Tanzania in reviewing its legal framework on debt management and identifying areas for improvement.
Financial Sector Supervision and Regulation: Support was provided to Ethiopia and Malawi on International Financial Reporting Standards (IFRS) 17 transition, Kenya on Basel III reforms; and Rwanda on cyber risk-regulation and supervision. Professional attachments were facilitated for Eritrea, South Sudan, and Uganda to learn from regional peers.
Government Finance Statistics (GFS): Support was provided to South Sudan and Tanzania on improving the quality of government finance statistics (GFS) and public sector debt statistics (PSDS).
Monetary Policy and Operations: A workshop congregated officials of the central banks of AFRITAC East, West 2, and South to share experiences and enhance capacity on implementing foreign exchange (FX) policies and operations, and developing the FX market.
Public Financial Management: Support was provided to Kenya to review and update the draft budget preparation manuals for national and county governments; Malawi to review and update the detailed budget calendar and existing integrated planning and budgeting manual; Uganda on recording of multiyear commitments for capital expenditures.
Revenue Administration: Eritrea was assisted with the taxpayer registration function; Ethiopia in the management of customs duty exemptions. Support was provided to Ethiopia, Kenya and Uganda on Medium-Term Revenue Strategy.
Regional Workshops: Five regional workshops were conducted during the quarter.
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SUPPORT PROVIDED TO MEMBER COUNTRIES IN THIS QUARTER (FY2023 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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