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QUARTERLY NEWSLETTER
February – April 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 February – April 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 fourth quarter of financial year 2023.
Financial Supervision and Regulation: The Bank of South Sudan (BoSS) was assisted in strengthening the cyber risk regulation and supervision capacity. Support to the Tanzania Insurance Regulatory Authority (TIRA) focused on IFRS 17 transition, and officials from the Bank of Eritrea visited the Central Bank of Kenya (CBK) to learn supervisory practice in mobile money transfer activities.
Forecasting and Policy Analysis System: IMF AFRITAC East (AFE) supported the Central Bank of Kenya to improve its expectation surveys and nowcasting to better inform monetary policy analysis and support policy decisions.
Government Finance Statistics (GFS): Support was provided to Kenya and Ethiopia in enhancing data quality and consistency of GFS and public sector debt statistics (PSDS). In Malawi, support was given in compiling GFS for the general government.
Macrofiscal analysis: Support was provided to Eritrea and South Sudan on macrofiscal forecasting and budget baseline costing. Uganda was assisted with updating and expanding the quarterly GDP forecasting tool.
Monetary Policy and Operations and Financial Markets Infrastructure: Assistance was provided to Ethiopia in operationalizing monetary policy instruments; and Uganda in enhancing the national payments system (NPS) regulatory and oversight frameworks and strengthening the oversight capacity.
Debt Management: AFE participated in a joint IMF/World Bank local currency bond market (LCBM) diagnostic for Tanzania.
Public Financial Management: Support was provided to Rwanda on climate-sensitive project appraisal and selection and on drafting the Ministerial Order that will operationalize the 2022 Organic Law on Public Finance Management (OLPFM). South Sudan was assisted in cash management and operationalizing the treasury single account. Zanzibar was assisted in the oversight of state-owned enterprises.
Real Sector Statistics: Training was delivered to Kenya in national accounts, and support was provided to Malawi and Rwanda on developing export and import price indices.
Revenue Administration: Support to Ethiopia focused on strengthening post clearance audit. Practical guidance was given to Rwanda in developing a customs valuation center of expertise to enhance compliance. South Sudan also received support in developing the terms of reference for consultants who will develop information communication technology (ICT) strategy and polices and quality assurance for the implementation of the integrated tax administration project.
Medium-term Revenue Strategy (MTRS): Support was provided to Ethiopia, Kenya, and Uganda, who are at different stages of the development and implementation of the MTRS.
Regional Workshops: Nine regional workshops were conducted this 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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