THE COVID-19 PANDEMIC IN AFRICA:
MACROECONOMIC IMPACTS AND POLICY RESPONSES

OBJECTIVES

The overall objective of the virtual conference jointly organised by ATI and AUC is to contribute to the ongoing discussion on the macroeconomic impacts of pandemics in light of COVID-19 and the appropriate policy responses.

The conference will facilitate virtual discussions of the dynamics of the pandemic in SSA and how it is impacting factor inputs and productivity.

It will highlight the urgency of accelerating progress on the health-related SDGs.

The virtual conference offers a unique opportunity for peer-learning amongst countries in the continent. "

The specific objectives of the conference include:

• reviewing the macroeconomic impacts of the disease across countries and their transmission mechanisms;
• discussing the policy responses offered by authorities; and
• assessing the impacts of confinements and containment measures on growth, jobs, and income.

Conference guidelines

To view the conference guidelines in both English and French, please click here.

Daily Agenda

DAY 1 - UNDERSTANDING COVID-19 AND ITS IMPACTS MAY 19
(Time is in Eastern Daylight Time = GMT- 4 hours)
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08:45 (GMT: 12.45PM)	VIRTUAL ENVIRONMENT OPENS
WELCOME AND OVERVIEW
09:00 - 09:30 (GMT: 13.00-13.30)	Welcome remarks: The IMF and AUC will welcome members, present the objectives and structure of the conference, and give each organizations an opportunity to share their Covid-19 key messages and contributions. Speakers: Prof. Victor Harison, Commissioner for Economic Affairs, AUC Mr. Abebe Aemro Selassie, Director African Department, IMF Dr. Albert Zeufack, Chief Economist, Africa Region, World Bank Dr. I. Socé Fall, Assistant Director-General Emergencies Response, WHO Mr. Andy Berg, Deputy Director, IMF Institute for Capacity Development Moderator: Mr. Abdoul Aziz Wane, Director, Africa Training Institute, IMF
PANEL 1: THE ECONOMICS OF PANDEMICS
09:30 - 10:30 (GMT: 13.30-14.30)	Understanding pandemics - Conceptual considerations Transmission dynamics (reproductive number) and specificities of Covid-19 Linking transmission dynamics of diseases to economic impacts Balancing act: Human behavioral responses to control infections and their economic costs - Value of life considerations Individual behavioral response (social distancing, etc.) and economic impact on decisions by economic agents and related economic costs Government-mandated behavioral responses (quarantines, lockdowns, etc.) and economic costs Speakers: Prof. Sergio Rebelo, Professor of Finance, Northwestern University Presentations: English | French Panelists: Dr. Ahmed E. Ogwell OUMA, Dep. Director Africa Center for Disease Control Dr. Amadou Alpha Sall, Director, Institut Pasteur, Dakar Presentations: English | French Dr. Norman Loayza, Lead Economist World Bank DRG Presentations: English | French Moderator: Mr. Andy Berg, Deputy Director IMF Institute for Capacity Development
PANEL 2: COVID-19'S ECONOMIC IMPACT GLOBALLY AND IN AFRICA
10:30 - 11:30 (GMT: 14.30-15.30)	The nature and size of the Covid-19 shock and impacts on the world economy Overview of the world behavioral response (by region/country) Economic impacts (demand, supply, output, livelihoods, by region/industry, etc.) The Covid-19 macroeconomic impact on SSA Impact on factor inputs (labor, capital, FDI, trade, etc.) and productivity Impacts on budgets and financial sectors in the region Economic costs and benefits of containment policies in SSA Are there alternative measures that don't put the economy on standstill? Impacts and political-economy considerations (by Panelists) SSA's specifics constraints (economical, political, social, sanitary) Speakers: Mr. Chris Papageorgiou, Division Chief, IMF Research Department Presentations: English | French Mr. Papa M. N'diaye, Division Chief, Regional Studies Division, IMF African Department Presentations: English | French Panelists: Dr. Hanan Morsy, Director, Macro Policy, Forecasting, Research Department. Hon. Charles Adu Boahen, Deputy Minister for Finance, Ghana Moderator: Prof. Victor Harison, Commissioner for Economic Affairs, AUC
CLOSING SESSION
11:30 - 11:45 (GMT: 15.30-15.45)	Closing address Speakers: Mr. Abebe Aemro Selassie, Director, IMF African Department Prof. Victor Harison, Commissioner for Economic Affairs, AUC Mr. Antonio Spilimbergo, Deputy Director, IMF Research Department

DAY 2 - MACROECONOMIC POLICIES FOR PANDEMICS MAY 22
(Time is in Eastern Daylight Time = GMT- 4 hours)
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08:45 (GMT: 12.45PM)	VIRTUAL ENVIRONMENT OPENS
PANEL 1: POLICY CHALLENGES IN AFRICA IN RESPONSE TO THE COVID-19 CRISIS
09:00 - 10:00 (GMT: 13.00-14.00)	Key features of the Covid-19 crisis and policy objectives A different role for economic policy making The nature of the uncertainty on the duration and depth of the crisis Policy objectives when the crisis is in full swing and when it is under control Policy constraints in low income countries Speakers: Prof. Jeffrey Sachs, Director, Earth Institute at Columbia University Panelists: Mr. Leonard Rugwabiza Mineg, Economic Advisor, Ministry of Finance and Economic Planning, Rwanda Mr. Ralph Chami, Assistant Director Institute for Capacity Development, IMF Presentations: English | French Dr. Bartholomew Armah, Director Macro division, Economic Commission for Africa Presentations: English | French Moderator: Hon. Zainab Shamsuna Ahmed, Minister of Finance, Nigeria
PANEL 2: MACROECONOMIC POLICY RESPONSE TO COVID-19 IN AFRICA
10:00 - 11:00 (GMT: 14.00-15.00)	It's not only fiscal: An overview of the macroeconomic policy toolbox Formulating macroeconomic policy objectives and the available policy tools The importance of good-quality statistics The role of fiscal policy The role of monetary, exchange rate, and financial sector policy An Integrated Policy Framework to formulate Covid-19 policy response in Africa Speakers: Sir Paul Collier, Professor at the Blavatnik School of Government Prof. Andres Velasco, Dean of the School of Public Policy, LSE Panelists: Prof. Roberto Chang, Rutgers University Dr Ayodele Odusola, Resident Representative, UNDP South Africa Moderator: Prof. Bamba Ngaladjo, advisor to the finance minister, Côte d'Ivoire
CLOSING SESSION
11:00 - 11:10 (GMT 15.00-15.10)	Closing address Speakers: Prof. Victor Harison, Commissioner for Economic Affairs, AUC Mr. Abdoul Aziz Wane, Director, Africa Training Institute, IMF

DAY 3 - FISCAL POLICY AND PUBLIC FINANCIAL MANAGEMENT RESPONSE TO COVID-19 MAY 26
(Time is in Eastern Daylight Time = GMT- 4 hours)
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08:45 (GMT: 12.45PM)	VIRTUAL ENVIRONMENT OPENS
PANEL 1: FORMULATING A FISCAL POLICY RESPONSE TO COVID-19 IN AFRICA
09:00 - 10:00 (GMT 13.00-14.00)	Fiscal policies to protect people during the pandemic Fiscal support in countries around the world Impacts on deficits and debt How to support households and firms International cooperation Speaker: Ms. Catherine Pattillo, Assistant Director, Fiscal Policy and Surveillance Division, IMF Fiscal Affairs Department Presentations: English | French Panelists: Hon. Tahir Hamid Nguilin, Minister of Economy, Finance, and Budget, Chad Sir Paul Collier, Professor at the Blavatnik School of Government Mr. Jilali Kenzi, Deputy Director, Treasury and External Finance, Morocco Moderator: Hon. Louis-Paul Motazé, Minister of Finance, Cameroon
PANEL 2: EXPENDITURE POLICY AND PFM RESPONSE IN AFRICA TO COVID-19
10:00 - 11:00 (GMT 14.00-15.00)	Good practices for budgeting, spending processes and treasury operations during the pandemic Overhauling fiscal frameworks Managing cash, debt, public investment and budget execution controls Maintaining overall transparency and accountability Managing fiscal risks Supporting firms and employment linkages Supporting households Premium on capacity to reach people Speaker: Ms. Carolina Renteria, Division Chief, Public Financial Management Division 1, IMF Fiscal Affairs Department Presentations: English | French Mr. Baoping Chang, Senior Economist, Expenditure Policy Division, IMF Fiscal Affairs Department Presentations: English | French Panelists: Dr. Olivier Ramiandrisoa, Director General, Economy and Planning, Madagascar Moderator: Dr. Yeo Dossina, Head of Economic Policy and Research Division, AUC
PANEL 3: REVENUE POLICY AND ADMINISTRATION RESPONSE IN SSA TO COVID-19
11:00 - 12:00 (GMT 15.00-16.00)	Recommended approaches to revenue administration during the pandemic Tax policies/measures to support the economy while protecting revenue Guidelines for revenue administrations to respond to the crisis Speaker: Ms. Katherine Baer, Assistant Director, Revenue Administration Division 2, IMF Fiscal Affairs Department Presentations: English | French Panelists: Mr. Alexander Pick, Organization for Economic Co-operation and Development (OECD) Moderator: Prof. Victor Harison, Commissioner for Economic Affairs, AUC
CLOSING SESSION
12:00-12:10 (GMT 16.00-16:10)	Closing address Speakers: Mr. Abdoul Aziz Wane, Director, Africa Training Institute, IMF

DAY 4 - MONETARY, EXCHANGE RATE AND FINANCIAL SECTOR POLICY RESPONSE TO COVID-19 MAY 27
(Time is in Eastern Daylight Time = GMT- 4 hours)
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08:45 (GMT: 12.45PM)	VIRTUAL ENVIRONMENT OPENS
PANEL 1: MONETARY POLICY, LIQUIDITY MANAGEMENT AND CENTRAL BANK POLICIES
08:50 – 10:20 (GMT 12.50-14.20)	Monetary frameworks, monetary policy, liquidity management and central bank policies Adapting Monetary Policy Frameworks Easing credit, providing funding and market liquidity, unconventional and emergency tools Enhancing monetary policy transmission mechanisms (collateralized LT funding) Speaker: Ms. Filiz Unsal, Research Department Presentations: English | French Mr. Darryl King, Deputy Division Chief, Central Bank Operations and Financial Stability Analysis Division, IMF Monetary and Capital Markets Department Presentations: English | French Panelists: Dr. Keith Jefferis, Managing Director of Econsult Botswana Presentations: English | French Prof. Roberto Chang, Rutgers University Moderator: Prof. Thomas Kigabo, Chief Economist, Central Bank of Rwanda
PANEL 2: EXCHANGE RATE POLICIES--MANAGING VOLATILITY
10:30 –12:00 (GMT 14.30-16.00)	Exchange rate policies: managing volatility Foreign exchange intervention Reserve management Speakers: Mr. R. Gaston Gelos, Assistant Director, IMF Monetary and Capital Market Department Presentations: English | French Panelists: Prof. Andres Velasco, Dean of the School of Public Policy, London School of Economics Moderator: Mr. Abdoul Aziz Wane, Director, Africa Training Institute, IMF
CLOSING SESSION
12:00-12:15 (GMT 16:00-16.15)	Closing address Speakers: Dr. Yeo Dossina, Head of Economic Policy and Research Division, AUC

DAY 5 - MONETARY COORDINATION AND FINANCIAL SECTOR POLICY RESPONSE TO COVID-19 MAY 29
(Time is in Eastern Daylight Time = GMT- 4 hours)
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08:45 (GMT: 12.45PM)	VIRTUAL ENVIRONMENT OPENS
PANEL 1: MACRO AND MICRO POLICIES AND RESPONSES -- MITIGATING THE SHOCK IMPACT IN AFRICA
09:00 - 10:30 (GMT 13.00-14.30)	Macroprudential policies: reducing the shock impact and ensuring stability Basel tools (capital and liquidity buffers, reserves) Capital flow measures (CFM) Supervisory measures, dealing with NPLs Speakers: Mr. Erlend Nier, Deputy Division Chief, Macroprudential Policy Division IMF Monetary and Capital Markets Department Presentations: English | French Panelists: Mr. Giovanni Dell'Ariccia IMF Research Department Presentations: English | French Mr. Gamal Negm, Deputy Governor, Central Bank of Egypt Presentations: English | French Dr. Kupukile Mlambo, Deputy Governor, Reserve Bank of Zimbabwe Moderator: H. E. Mr. Tarek Amer, Governor of the Central Bank of Egypt
CLOSING SESSION
10:30-10:45 (GMT 14.30-14:45)	Closing address Speakers: H. E. Mr. Tarek Amer, Governor of the Central Bank of Egypt Prof. Victor Harison, Commissioner for Economic Affairs, AUC Mr. Abdoul Aziz Wane, Director, Africa Training Institute, IMF

DAY 6 - DEBT AND ECONOMIC RECOVERY PROSPECTS AND CONFERENCE WRAP-UP JUNE 2, 2020
(Time is in Eastern Daylight Time = GMT- 4 hours)
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08:45 (GMT: 12.45PM)	VIRTUAL ENVIRONMENT OPENS
PANEL 1: THE IMPACT OF COVID-19 ON DEBT IN AFRICA
08:50– 10:20 (GMT12.50-14.20)	Debt sustainability pre- and post-Covid-19 Debt dynamics in Africa and the determinants of the change in debt profile IMF Model-based approach to debt sustainability Debt management during the crisis International cooperation for debt reduction and implications for market access Speakers: Mr. Giovanni Melina, IMF Research Department Presentations: English | French Mr. Tidjane Thiam, Special Envoy of the Chairperson of Africa Union Panelists: Mr. Gregory Smith, M&G Investments, Presentations: English | French Mr. Peter Breuer, Division Chief, Monetary and Capital Markets Department, IMF Presentations: English | French Mr. Joseph Atta-Mensah, Principal Adviser, Economic Commission for Africa Mr. Albert Zeufack, Chief Economist, Africa Region, World Bank Presentations: English | French Moderator: Mr. Roger Nord, co-chair of the IMF-WB Debt Management Facility (DMF)
PANEL 2: THE SHAPE OF ECONOMIC RECOVERY IN AFRICA
10:30 –12:00 (GMT14.30-16.00)	Policies for recovery and building economic resilience: restoring medium-term growth Shapes and forms of Africa's recovery from the Covid-19 pandemic Reforms to support the recovery: public health, labor market policies, etc. Strengthening governance and fighting corruption to support the recovery Speakers: Prof. Jeffrey Sachs, Director, Earth Institute at Columbia University Panelists: Mrs. Valerie Cerra, Assistant Director, Institute for Capacity Development, IMF Presentations: English | French Dr. Hanan Morsy, Director, Macro Policy, Forecasting, Research, AfDB Dr. Edoh Kossi Amenounve, DG of BRVM et Président of African Securities Exchanges Association (ASEA) Presentations: English | French Moderator: Prof. Victor Harison, Commissioner for Economic Affairs, AUC
PANEL 3: CLOSING SESSION
12:00 – 12:30 (GMT 16.00-16.30)	Closing address Key messages from the conference and Africa’s post-Covid-19 priorities Speakers: Mr. Abebe Aemro Selassie, Director, IMF African Department Prof. Victor Harison, Commissioner for Economic Affairs, AUC Mr. Abdoul Aziz Wane, Director, Africa Training Institute, IMF