All Seminars

Compilation of Export and Import Price Indices

02/18/2019 - 02/22/2019 Ebene, Mauritius

This is a joint seminar with East AFRITAC and the Common Market for Southern Africa (COMESA).

The main objective is to strengthen the participants’ knowledge of price indices concepts and methods. The focus will be on specific data sources and compilation procedures.

This five-day seminar will focus on specific issues and challenges relating to the implementation of international standards and best practices regarding the compilation of price indices. Topics will include general price indices issues, challenges, and problems such as developing/updating weights, selecting samples, quality adjustment issues, pricing difficult items, and others. Participants will be invited to list specific questions, topics, issues which will be discussed during the seminar.

Advanced Rulings for Classification Purposes, Origin and Valuation

01/28/2019 - 02/01/2019 Ebene, Mauritius

This is a joint seminar with East AFRITAC and the Common Market for Southern Africa (COMESA).

The seminar will provide a forum for discussion to explore challenges to the key steps in processing advanced ruling requests in origin and tariff classification. The seminar will build advanced ruling capacity of the participants by looking at:

-outlining the background and reasoning behind advanced rulings;
-an overview of issues requiring consideration to ensure an effective advanced ruling process;
-the key steps in processing advanced rulings including identifying best practice;
-objectives and procedures to support advanced ruling for tariff classification; and
-preparing a communications strategy.

Mainstreaming National Accounts and Balance of Payment Statistics

12/03/2018 - 12/07/2018 Ebene, Mauritius

The main objective is to strengthen knowledge of the national accounts concepts and methods that overlap with balance of payment statistics. The seminar will consist of lectures and workshop sessions covering methodological and compilation issues based on the 2008 System of National Accounts and Balance of Payment Statistics Manual 6th edition.

Fintech: Opportunities, Challenges and Risks to the Financial System

11/26/2018 - 11/30/2018 Ebene, Mauritius

Financial technology (fintech) is the new technology and innovation used in the delivery of financial services. Increasingly these technologies compete with and disrupt traditional financial services, including mobile payments, money transfers, loans, fundraising, and asset management.

How much of fintech is hype and how much is reality, and how should policy and regulation respond to this fast-changing industry are the main issues the seminar aims to address. The seminar will explore how fintech technologies could lead to the emergence of new risks, by creating greater volatility and instability, and how central banks and regulators can mitigate potential risks to financial stability and integrity without stifling innovation.

The seminar will examine practical fintech applications. It will explore central bank responses to potential opportunities and challenges arising from cryptocurrencies and examine a range of use cases with distributed ledger technology and the issuance of central bank digital currencies. Discussions will also focus on experiences in Regtech and Suptech and potential risks from their broad adoption. Regtech can be defined as the use of fintech by financial institutions for improving their regulatory compliance and risk management. Similarly, Suptech can be defined as financial supervisors themselves using fintech to improve their supervisory and regulatory processes.

Compliance and Risk Management

11/19/2018 - 11/23/2018 To be confirmed

RAs are increasingly expected to do more with less. The resources provided by governments are limited and the pressure is mounting for RA’s to cut on their cost of collection, while also reducing the cost of compliance on taxpayers. The biggest risk to any RA is failure by taxpayers to comply to their obligations of registering, filing, paying and reporting accurately in their declarations to the RAs. Inability to manage compliance risk threaten the ability of the organization to achieve its organizational/corporate objective of mobilizing enough revenue to meet the standards and target set by government.

The concept of managing risk is well understood by revenue administration and yet its application is superficial and ineffective in many of the RAs.

The purpose of this seminar on risk management is to enhance the ability of RAs to manage corporate priorities through effective RM. It will provide a platform for participants to discuss and learn from each other how they could strengthen the RM functionality to make it efficient and effective within their own revenue administrations. Leading presentations shall be made on best practices in application of the RM process within a revenue administration setting. However, the value of this seminar is expected to be largely derived from the interactions, exchanges and sharing of experiences by participants themselves.

Model Based Policy Analysis and Forecasting

11/05/2018 - 10/19/2018 Ebene, Mauritius

This course, presented by the IMF Institute for Capacity Development, provides rigorous training on the use of simple Dynamic New Keynesian (DNK) models to conduct monetary analysis and forecasting; it emphasizes analysis of monetary policy responses to macroeconomic imbalances and shocks. Participants are provided with the tools necessary to develop or extend the model to fit their own monetary policy framework. Country case studies are used to reinforce participant understanding and to help them compare and assess a variety of possible experiences.
Upon completion of this course, participants should be able to:
- customize a simple model of an economy that embodies the monetary policy transmission mechanism, and the shocks this economy may face;
- acquire and apply tools used in modern central banks to conduct monetary policy analysis and forecasting using a hands-on Matlab-based model;
- conduct nowcasting and near-term forecasting using a variety of estimation-based econometric techniques supported by expert judgment;
- use the model to develop consistent medium-term quarterly projections of such key macroeconomic variables as output, inflation, interest rate, and exchange rate;
- identify risks in the baseline forecast and draw up medium-term projections for alternative scenarios that assume that the risks materialize; and
- start building a simple model for monetary policy analysis using their own national data, when they return home.

Crisis Management and Crisis Resolution

10/15/2018 - 10/19/2018 SARB Academy, Pretoria, South Africa

The seminar will inform participants about the need to keep abreast of the above developments and be ready for the implementation challenges. It will offer participants the opportunity to review and discuss key aspects of the resolution process including recent developments by the international standard setting bodies such as the BCBS and FSB. It will strive to find internationally coordinated solutions that take account of the impact of the crisis on the financial systems and real economies of other countries, drawing on information, arrangements and plans developed ex-ante. In the aftermath of the global financial crisis, these issues have rapidly risen to the top of international and regional policy agendas. Reforms initiated in crisis management target the improvement of powers and tools for dealing with weak banks with a particular emphasis on SIFIs. The seminar will address the following:

-introduction to the key elements of macroprudential supervision and financial stability;
-key attributes of effective resolution regimes for financial institutions;
-developments in cross border supervision; and
-roundtable discussion on an implementation framework for Southern African countries.

The seminar will require close interaction among the participants, with the resource persons guiding the interactions. Representatives from select countries will be required to make a presentation on case studies involving crisis resolution infrastructure and crisis management strategies in their countriy. Presentations will be given by international experts, including from IMF headquarters. The Course curriculum includes interactive discussion and group exercises with fellow participants, regulatory experts, and industry practitioners.

Medium-Term Fiscal Frameworks and Fiscal Risks

09/17/2018 - 09/21/2018 Ebene, Mauritius

Robust macroeconomic and fiscal forecasts are crucial to developing a sustainable fiscal strategy and ensuring greater predictability of budget allocations. In most countries medium-term macro-fiscal forecasts are presented as part of their Medium-Term Fiscal Framework (MTFF). The MTFF encompass the top-down specification of the aggregate resources envelope and is also the foundation for developing a sound medium-term budget framework (MTBF) and annual budget. In terms of the three main goals of Public Financial Management (aggregate fiscal discipline, strategic allocation of resources, efficient service delivery), the focus of the MTFF is on maintaining aggregate fiscal discipline and fiscal sustainability. The MTFF is the appropriate vehicle to explore the boundaries to the set of fiscal and macroeconomic policies that are consistent with continued financial stability and fiscal sustainability.

More than 15 years ago, many countries in sub-Saharan Africa embarked on a program of budgetary reform, an important element of which was a medium-term budget framework (MTBF). The objectives of this reform were to enhance fiscal discipline, achieve a better alignment of resource allocation with national priorities, and improve the certainty of funding, both internal and external, over the medium term. The progress of these reforms, in six selected countries, is assessed by a recent IMF Working Paper. It assesses the effectiveness of MTBFs in achieving improved fiscal discipline, resource allocation, and certainty of funding, as well as wider economic and social criteria such as poverty reduction and more efficient public investment. The authors recommend developing countries to focus on building their capacity in macro-fiscal forecasting and analysis. This will allow the authorities to table a credible MTFF that creates the base for a credible medium-term budget framework.

Strengthening the Administration and Control of Excise

09/03/2018 - 09/07/2018 Ebene, Mauritius

The seminar will provide a forum for discussion to explore challenges to the administration of excise programs and build capacity of the participants by looking at:

-review aspects of the supporting legislation/regulations, and control processes and procedures in the region;
-trader information, application, approval and registration of operators, risk management, physical and audit control, planning a control program, conducting a
compliance visit, reporting, system audit and accountancy, and management controls;
-explore opportunities of increasing revenue through extending excise to other trade sectors, e.g., betting and gaming, specific petroleum products, and mobile
telephone airtime; and
-developing an excise compliance strategy.

Impact of Basel III Reforms in Implementation of Basel II/III in EMDEs

07/16/2018 - 07/20/2018 Ebene, Mauritius

The seminar will cover the details of recently finalized Basel III reforms by the Basel Committee on Banking Supervision (BCBS) especially aspects relating to the standardized approaches for Credit and Operational risks as well as Leverage Ratio framework, Credit Value Adjustment risk framework and introduction of a robust Output Floor.

In the wake of the global financial crisis, the BCBS has been reviewing the adequacy of the capital framework and completed revisions in December 2017. The aim was not only to address the weaknesses that were revealed during the crisis, but also to reflect the experience gained with the implementation of the Basel framework since 2004. The Basel III framework, being the central element of the BCBS’s response to the crisis, addresses a number of shortcomings in the pre-crisis regulatory framework and provides a foundation for a resilient banking system that will help avoid the build-up of systemic vulnerabilities. The BCBS has revised the standardized approaches for credit, market and operational risks. The BCBS’s objective has been to ensure that the combined revisions to the standardized approaches imply that the capital requirements reflect the inherent riskiness of exposures and that the standardized approaches constitute a suitable alternative and complement to internal models. It has also revised certain elements of the Internal Ratings Based Approach to credit risk, leverage ratio framework, output floor and transitional arrangements. This will have a substantial impact on the Basel II/III implementation program of many countries in sub-Saharan Africa and there is an urgent need for prudential regulators to keep abreast of these developments.

Foreign Exchange Market Simulation for Central Banks

06/25/2018 - 06/29/2018 Johannesburg, South Africa

Recent experience of exchange rate volatility in sub-Saharan African countries has forced many central banks to rethink their foreign exchange market operations. Inefficiency of market movement shows there is a general need to move away from pure administrative measures towards more market conforming methods and to deepen the understanding of money and foreign exchange market dynamics. Thus, central banks in the region are currently striving to improve their market intelligence for better understanding of market dynamics, to update market conventions and regulations, develop new instruments, and improve central bank operations to increase market efficiency and price discovery. To complement regular TA within this area, this workshop will provide for both theoretical fundamental knowledge and practical skills training.

This workshop’s intensive program will provide for close to real-life simulations of trade in a foreign exchange market environment. It is tailored to central banks and deals extensively with market conventions, role of central banks in the foreign exchange markets, and forward transactions. The workshop will have several sessions with foreign exchange market simulation exercises which are carried out on an electronic trading platform. The participants will trade with each other while market news come in. In addition, the workshop will include sessions on interbank market conventions, swap and forward instruments, characteristics of forward markets, trading platforms - features for swaps, and methods for trading.
This program is delivered by ACI Australia, which has a long experience in this type of FX market simulation courses. More information about ACI and the dealing simulations can be found at: http://aciaustralia.com.au/
Language requirements: The course will be conducted in English and good working knowledge of English is required
As the event is held jointly with AFRITAC West 2 and East AFRITAC it will provide an excellent forum for experts from Eastern, Southern and Western African central banks to exchange experiences.

International Financial Reporting Standards(IFRS)

03/19/2018 - 03/23/2018 Ebene, Mauritius

This seminar is designed for mid- to senior-level officials in central banks and bank supervisory agencies directly
responsible for prudential regulation, on-site and off-site supervision of banks. The seminar will be held in Mauritius,
during March 19-23, 2018.
IFRS has been adopted in most countries in the region and the implementation of IFRS 9 from January 2018 is expected to
usher in a paradigm shift, in the manner in which financial institutions classify, measure, and account for impairment of
financial instruments. Intricately connected to IFRS 9 are two other accounting standards, IFRS 7 (Financial Instruments:
Disclosure) and IFRS 13 (Fair value measurement of financial instruments). The goal of the seminar is to enhance the ability
of prudential regulators and bank supervisors/examiners to understand the implementation challenges of IFRS with
specific focus on these standards. The seminar is designed to expose officials to the underlying concepts of these standards
and equip them with the tools and techniques for conducting supervision of banks/financial institutions under the new
framework in the most effective way.
A key objective will be to raise awareness of the inter-linkages among these standards and implementation challenges.
After completing the seminar, officials will gain insight into the implications of IFRS 9 on credit risk models and blend the
IFRS 9 requirements with existing methods and models used for risk and regulatory purpose. The seminar will help prepare
participants for an efficient transition to IFRS 9 and design supervisory frameworks appropriate for their jurisdictions.
Participants will have the opportunity to discuss and learn the following:
 Critical aspects of IFRS 7, IFRS 9, and IFRS 13
 Classification and Measurement and Impairment of Financial Instruments under IAS 39 & IFRS 9
 Asset classification & Provisioning -Regulatory Approach
 Disclosure requirements of IFRS 7
 Fair Value Accounting -IFRS 13
 BCBS guidance on accounting for Expected Losses
 Transition arrangements of IFRS 9
 Implementation issues in IFRS 9
 Country experiences. Presentation by participants

Leading a Revenue Administration

03/19/2018 - 03/23/2018 Zambia

This is a high-level Seminar for heads of revenue administrations and heads responsible for planning, modernization
and corporate performance monitoring and evaluation.
The purpose of the seminar is to create a platform for senior executives to discuss and share experiences in effective
practices for enhancing performance of the revenue authorities on their mandate. The seminar will cover good
practices for leading a revenue administration reform agenda covering strategy development, implementation,
monitoring, and evaluation of outcomes for a revenue authority.
Key tools and practices for supporting an effective reform implementation in a revenue administration like
performance management, change management, and managing risk shall be covered. In addition, management
assurance programs as a tool for ensuring accountability, transparency and consistency in the role of management
shall be discussed. The seminar shall also provide an opportunity for networking among the senior executives and
peer learning on experiences from their respective countries.
An overview of the following tools and their role in supporting strategy execution shall be provided.

 Revenue Administration Fiscal Information Tool (RA-FIT), also referred to as the International Survey on Revenue Administrations (ISORA);
 Results Based Management (RBM) framework; and
 Tax Administration Diagnostic Assessment Tool (TADAT).

International Survey on Revenue Administration (ISORA) and Managing Performance

03/12/2018 - 03/16/2018 Ebene, Mauritius

Revenue administrations are responsible for administering revenue laws and collecting revenue. They also have to provide advice to Ministries of Finance to help in the analysis of tax policy. To be effective and efficient in managing their performance on influencing compliance, and in meeting their external reporting requirements, revenue administrations need data. They need to base decisions on good information and intelligence, derived from analysis of quality data.

In response to this need, the IMF’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) will jointly host a Seminar on the International Survey on Revenue Administration (ISORA) and Managing Performance in a tax administration with AFRITAC East (AFE) and AFRITAC West 2 (AFW2). The program is sponsored jointly by the regional technical assistance centers (RTAC) and the IMF’s Fiscal Affairs Department (FAD). It is designed for coordinators of the ISORA for Tax administration. The 5-day seminar will be held in Johannesburg, South Africa at the OR Tambo International Airport Intercontinental Hotel, during the week February 26- March 2, 2018.

The purpose of the seminar is to discuss the importance of performance management in enabling tax administrations to be effective and efficient. It will focus on the role of the ISORA in enhancing the effectiveness of performance measurement through providing revenue administration management with relevant information for control and decision making.

Fiscal Policy Analysis

02/26/2018 - 03/09/2018 Ebene, Mauritius

This course, presented by the IMF's Institute for Capacity Development, aims at providing an overview of the key fiscal policy concepts and techniques used to analyze how fiscal policy can help ensure macroeconomic stability and sustainable long-term growth. This hands-on course is built around core macro-fiscal topics needed to analyze fiscal policy. Units will be substantiated by general empirical findings, Excel-based workshops, case studies, and selected topics of regional interest. The course will be of interest to officials who wish to gain a broad understanding of the impact of fiscal policy on the economy and related tools of analysis.

Course objectives:
Upon completion of this course, participants should be able to:
- discuss the role of fiscal policy in attaining the key objectives of the government’s macroeconomic stability, equity and efficiency, and sustainable long-term growth; and
- use the relevant tools and techniques to assess the fiscal stance, fiscal multipliers, and debt sustainability.

The course will also review the key elements of tax and expenditure policy: concepts and best practices.

Compiling Producer Price Indices

02/19/2018 - 02/23/2018 Ebene, Mauritius

The main objective is to strengthen the participants’ knowledge of price index concepts and methods. The focus will be on specific data sources and compilation procedures.
This five-day seminar will focus on specific issues and challenges relating to the implementation of international standards and best practices regarding the compilation of price indices. Topics will include general price indices issues, challenges, and problems such as developing/updating weights, selecting samples, quality adjustment issues, pricing difficult items, and others. Participants will be invited to list specific questions, topics, issues which will be discussed during the seminar.

Proficiency in Microsoft Excel is required

Managing Macroeconomic Statistics

02/01/2018 - 02/02/2018 South Africa

The following topics will be covered:
• roles and responsibilities of a national statistical office;
• demand for statistics for policy formulation;
• statistical leadership;
• statistical standards;
• dissemination of data and metadata;
• data quality;
• development of practical strategies;
• the IMF’s Results-Based Management Framework.

Compilation of National Accounts

12/04/2017 - 12/08/2017 Ebene, Mauritius

The main objective is to strengthen knowledge of the national accounts concepts and methods. The seminar will consist of lectures and workshop sessions covering methodological and compilation issues based on the 2008 System of National Accounts.

Proficiency in Microsoft Excel is required.

Modernizing the Legal Framework in Compliance with the CPSS-IOSCO Principles ...

11/27/2017 - 12/01/2017 Ebene, Mauritius

The financial market infrastructures (FMIs) are generally sophisticated multilateral systems that handle significant transaction volumes and sizable monetary values. These systems are used for the purposes of clearing, settling, or recording payments, securities, derivatives, or other financial transactions. FMIs allow participants to manage their risks more effectively and efficiently, and, in some instances, reduce or eliminate certain risks. Some are critical to helping central banks conduct monetary policy and maintain financial stability. By performing centralized activities, however, FMIs concentrate risks and create interdependencies between and among FMIs and participating institutions.

Macroprudential Approach to Supervision and Managing Systemic Risk

10/30/2017 - 11/03/2017 SARB Academy,Pretoria,South Africa

While many countries in the southern African region are implementing select elements of the Basel III Capital Adequacy Standard, there are policy and strategic demands on a number of them to complete implementation of Basel II and adopt some of the elements of Basel III. Further, several countries in the region are adopting a macroprudential approach to supervision and putting in place macroprudential regulations. In addition, many central banks in the region are setting up financial stability frameworks, which have a macroprudential dimension. With the increasing adoption of macroprudential tools as part of regulatory frameworks, the focus has now shifted to the implementation of these tools. This seminar will highlight practical implementation issues of interest to practitioners and policymakers. Particular emphasis will be put on discussing and drawing lessons from the experience of authorities around the world in implementing various elements of the
macroprudential toolbox.

The primary goal of the seminar is to make the participants aware of the inter-linkages, overlaps and similarities amongst these standards and frameworks. Aided by this awareness, officials will be better equipped to design supervisory frameworks appropriate for their jurisdictions.

The participants will have the opportunity to discuss and learn the following:
- microprudential and macroprudential supervision: concepts, history, and current thinking
- Basel II and Basel III: evolution of the supervisory reform agenda
- designing macroprudential tools – conceptual aspects and governance arrangements
- the buffers in Basel III
- countercyclical toolkit and recent experiences
- leverage requirement in Basel III
- capital requirement for systemically important banks under Basel III and Supervisory review Process (SRP) for systemically important banks under Pillar 2 of Basel II
- liquidity requirement under Basel III and liquidity risk assessment under Pillar 2 of Basel II
- microprudential stress testing under Basel II and macroprudential stress testing: concepts and case studies
- risk-based supervision (RBS), Pillar 2 of Basel II and macroprudential approach to supervision in Basel III
- presentation by participants of country experiences

The seminar will require close interaction among the participants, with the resource persons guiding the interactions.

Participants from select countries will be asked to make presentations on their country experiences. Presentations will be made by international experts, including from IMF headquarters. Participants are expected review the reading materials on the list of references.

This course will be conducted in collaboration with the South African Reserve Bank’s Academy.

Prevention and Management of Government Expenditure Arrears: Theory & Practices

10/30/2017 - 11/03/2017 Ebene, Mauritius

The accumulation of government expenditure arrears is one of the biggest challenges in public financial management (PFM). A recent survey of 121 Public Expenditure and Financial
Accountability (PEFA) assessments revealed that in only 31 percent of countries was the stock of central government arrears less than 2 percent of total central government expenditure. In almost 20 percent of countries it was more than 10 percent; in 22 percent it was between 2 and 10 percent; and in 28 percent the information was not available demonstrating lack of both adequate reporting and control. AFS countries are also concerned by this issue. The accumulation of expenditure arrears by governments can have a serious negative effect on the economy: a large flow of arrears may disguise the true size of the government deficit, significantly reduce the impact of fiscal policy on aggregate demand, and potentially undermine macroeconomic stability.

Government expenditure arrears are financial obligations that have been incurred by any level of the public sector for which payments have not been made by the due date. Payments may be overdue based on a legal obligation (such as payment of social security benefits, or salaries), a specific contractual commitment (such as payment for construction of a road), or a continuing service arrangement (such as payment for electricity supply). The value of expenditure arrears constitutes the amount of the original overdue payment, as well as any interest or financial penalties that the government might accrue (and not pay) as a result.

Persistent expenditure arrears are typically a symptom of underlying weaknesses in a country’s PFM system. Expenditure arrears can be the result of failures at any or all stages of the PFM cycle, including: an inadequate legal framework; unrealistic budgeting; weak or cumbersome commitment or expenditure controls; inefficient cash management; lack of or problems with the integrity and functionality of the financial management information system (FMIS); or gaps in fiscal reporting. Another reason that expenditure arrears can accumulate is that governments are not aware of them. The most effective approach to dealing with expenditure arrears, therefore, depends on their underlying causes and usually requires concerted action in a number of PFM areas.

Intelligence and Investigation in Customs

09/25/2017 - 10/06/2017 Ebene, Mauritius

The seminar will provide a forum for discussion to explore the challenges to Customs intelligence and investigation
programs and build capacity of the participants by looking at:
- the systematic collection and processing of intelligence information;
- the various components involved in the gathering, evaluation, collation, analysis and dissemination of information;
- the principles and procedures associated with the investigation of customs and fraud offences; and
- an investigation (case study) from the point of referral through to the end of the civil assessment and/or prosecution in court.

Monetary Policy Communication

09/25/2017 - 09/29/2017 Accra, Ghana

Communication is key for building credibility for monetary policy. It is also crucial to consolidate the gains and ensure the continued progress in the areas of inflation forecasting, monetary policy analysis and monetary policy implementation that has already occurred in the region. Communication also plays an important role in building general knowledge about the central bank and its role in the economy. As central banks in the region develop, they also become more transparent in line with best practice. Being transparent, however, is not necessarily the same as communicating, and the demand from central banks for assistance in building their communications capacity is steadily increasing.

The purpose of this jointly organized seminar is to further develop central banks’ capacity to communicate monetary policy in a way that is suitable to their overall capacity and the prevailing environment in each country, thereby strengthening the implementation of monetary policy. The seminar will discuss the role of communications units, the nature of communication in the daily work of a central bank, and relevant strategic documents. Moreover, it will involve developing tools/channels for communication (webpage, reports, speeches, press releases, etc) and relations with stakeholders, especially with the media. The seminar will also cover internal communication of monetary policy, which is another important element in effective communication.

Some central banks in the region have already started to establish communication units and to develop communication strategies and policies, while others are just realizing this need. One valuable objective of the seminar will be peer learning by having the more experienced participants share their knowledge and experience. The joint participation of AFRITACs South and West 2 provides an opportunity for a richer and broader exchange of views and experiences. Other challenges facing central banks in the sub-Saharan African region, such as language barriers, relative financial illiteracy, and limited internet access, will also be discussed during the seminar.

The seminar will require close interaction among the participants, with the resource persons guiding the interactions. Representatives from select countries will be asked to make presentations based on their experience and current practice in some areas. The practical workshops during the seminar are designed to enhance the participants’ ability to use different tools/channels in communication and to think more strategically about communication.

FX Market Dealing Simulation Workshop for Central Bank Officials

09/04/2017 - 09/08/2017 Johannesburg, South Africa

The purpose of this jointly organized seminar is to further develop the central banks’ capacity to communicate monetary policy in a way that is suitable to the capacity of banks and the prevailing environment in each country, thereby strengthening the implementation of monetary policy. The seminar will discuss the role of Communications units, the nature of communication in the daily work of a central bank, and relevant strategic documents. Moreover, it will involve developing tools/channels for communication (web page, reports, speeches, press releases, etc) and relations with stakeholders, especially with the media. Another important element in effective communication, that the seminar will also cover, is the internal communication of monetary policy.

Enhancing the Basel Process -Recent Developments in Basel II & Basel III

08/21/2017 - 08/25/2017 Ebene, Mauritius

Implementation of the Basel III framework is a key global regulatory reform priority. Full and consistent implementation within the internationally agreed timeframe is aimed at strengthening the resilience of the banking system, improving market confidence in regulatory ratios and promoting a level playing field. Developments are taking place in implementing different facets of Basel III such as the leverage ratio, liquidity requirements, and capital buffers. The seminar is designed to familiarize participants with the underlying concepts of these requirements and equip them with the tools and techniques for conducting supervision of banks/financial institutions under the revised framework in the most effective way.

Fiscal Risk Analysis and Management; Theory and Practices

07/31/2017 - 08/08/2017 Ebene, Mauritius

Monitoring and managing fiscal risks—factors that may cause fiscal outcomes to deviate from expectations or forecasts—are always key aspects of policymaking. Common sources of fiscal risks include natural disasters or shocks to such macroeconomic variables as exchange rates and interest rates, but also the fiscal implications of bail-outs of banks, public enterprises, pension funds, and local governments, or other contingent liabilities, such as guarantees (including those embedded in public-private partnerships) and legal claims against the government. In addition, accuracy and transparency of the central government’s fiscal accounts reduce the likelihood that debts and deficits will be unexpectedly revised upward at a later stage. Indeed, lack of accurate information can be a source of risks.

Financial Development and Financial Inclusion

06/19/2017 - 06/30/2017 Ebene, Mauritius

This course, presented by the IMF's Institute for Capacity Development, outlines the macroeconomic relevance of financial development and financial inclusion. Beginning with an analytical framework that defines the role of finance in the economy, the course reviews the conceptual and empirical literature on the impact of finance on macroeconomic stabilization and growth. It also addresses key policy issues to encourage financial development (market enabling policies) and limit its potential destabilizing effects (market harnessing policies). The course introduces financial inclusion as an integral dimension of financial development, reviews the indicators used to measure financial inclusion, the distinct macroeconomic impact of financial inclusion, and the main policy strategies that have been pursued

Debt Sustainability Analysis using the MF MAC DSA

05/01/2017 - 05/05/2017 Ebene, Mauritius

IMF AFRITAC South concludes tomorrow a week-long regional seminar on debt sustainability analysis, in collaboration with the IMF’s Strategy, Policy and Review Department. Participants included government officials from Angola, Botswana, Namibia, Mauritius, Seychelles, South Africa and Swaziland.

The seminar focused on the IMF’s standardized framework used to conduct public debt sustainability analysis in market access countries through a series of hands-on exercises in the application of the template and the interpretation of the results. Discussions centered on the debt sustainability analysis of the delegates’ respective countries.

Debt Sustainability Analysis using the joint World Bank-IMF for LIC DSF

04/24/2017 - 04/28/2017 Ebene, Mauritius

During April 24-28, 2017 AFRITAC South, in collaboration with the Strategy, Policy and Review Department of the IMF and the Macroeconomic and Fiscal Management Global Practice of the World Bank, held a regional seminar on debt sustainability analysis for low income countries. The event was hosted by the AFRITAC South at the facilities of Africa Training Institute in Mauritius.

The seminar brought together government officials from Comoros, Lesotho, Madagascar, Mozambique, Zambia and Zimbabwe. It focused on the main principles of debt sustainability and the link to the IMF’s Debt Limit Policy and the Bank’s Non-Concessional Borrowing Policy. IMF and Bank experts presented and discussed with seminar participants the IMF-World Bank Debt Sustainability Framework (DSF) for Low-Income Countries (LICs). The DSF is a standardized framework for conducting public and external debt sustainability analysis in LICs. It aims to help guide the borrowing decisions of LICs, provide guidance for creditors’ lending and grant allocation decisions, and improve IMF and World Bank assessments and policy advice.

The hands-on approach focused on how to develop baseline stress-test scenarios by using the DSF and how to interpret the results from the debt sustainability analysis. Specific attention was given to practical application of the framework by engaging participants to use the analytical tool and interpret results. Participants discussed the importance of the individual country context and macroeconomic and technical challenges they face in using the DSF as a tool for guiding their countries’ borrowing decisions.

Compilation of National Accounts

04/24/2017 - 04/28/2017 Statistics South Africa and Sheraton Hotel Pretoria, South Africa

AFRITAC South is conducting a seminar on seasonal adjustments in national accounts. The focus will be on specific issues, including seasonal patterns and calendar effects in national accounts time series. Twenty-four compilers from eight countries (Angola, Lesotho, Madagascar, Mauritius, Mozambique, Seychelles, South Africa, and Zambia) will participate.

The seminar will consist of lectures and workshop sessions covering methodological and compilation issues to provide compilers of national accounts statistics with basic knowledge of seasonal adjustment. The seminar will include compilation sessions using countries’ datasets. The software used will be JDemetra+.

Addressing Integrity in Customs Administration

04/03/2017 - 04/07/2017 Ebene, Mauritius

AFRITAC South is conducting a seminar this week to strengthen the knowledge of government statisticians on consumer and producer price index concepts and methodology. The approach is to address specific challenges identified by the seminar participants in implementing international standards and best practice in statistics.

International Financial Reporting Standards (IFRS)

04/03/2017 - 04/07/2017 Ebene, Mauritius

AFRITAC South is hosting a seminar this week on International Financial Reporting Standards (IFRS) with specific focus on enhancing the skills and competencies of the officials in the bank supervision departments of Sub Saharan African Countries. Nine Southern Africa countries are represented by 25 middle to senior level bank supervisors in this seminar. The overarching goal of the seminar is to enhance the ability of prudential regulators and bank supervisors/examiners to understand the implementation challenges of IFRS and equip them with the tools and techniques for conducting supervision of banks/financial institutions in the most effective way. Resource persons include Mr. V. Venkataramanan, Partner, KPMG, India an internationally recognized expert in IFRS implementation, Mr. Amarjit Chopra, Chairman, National Advisory Committee on Accounting Standards, India which is the Apex body in endorsing the Accounting Standards, and Mr. P.R.Ramesh, Chairman, Deloitte India and a Member of the various Committees constituted by Government of India/ Reserve Bank of India on IFRS implementation. The discussions will address regional and national challenges in complying with IFRS through sharing of experience by participants on the strategies adopted by them in their jurisdictions.

Compilation of Price Statistics

03/13/2017 - 03/17/2017 Ebene, Mauritius

AFRITAC South is conducting a seminar this week to strengthen the knowledge of government statisticians on consumer and producer price index concepts and methodology. The approach is to address specific challenges identified by the seminar participants in implementing international standards and best practice in statistics.

Macroeconomic Diagnostics

02/27/2017 - 03/10/2017 Ebene, Mauritius

This course aims to strengthen participants’ ability to assess a country’s macroeconomic situation, emphasizing practical tools for use in day-to-day macroeconomic analysis.

Strengthening Budget Documentation and Fiscal Decision Making

02/06/2017 - 02/10/2017 Ebene, Mauritius

AFRITAC South is hosting a seminar during February 6-10, 2017 on strengthening budget documentation and fiscal decision making. Eight Southern Africa countries are represented by 26 government officials on a platform for developing and exchanging knowledge with peers, including ideas and experiences for improving the content of budget documentation. The discussions will address options for ways to best integrate and use budget documents in the budget cycle. Ideas will also be exchanged on improving strategic communication for different levels of budgetary stakeholders.