Annual%20Reports
AFS Annual Report FY 2023
08/12/2022
A succession of global economic shocks combined with a severe funding squeeze continue to seriously constrain the policy responses and growth prospects for member countries. The Fund’s surveillance, lending, and capacity development (CD) activities have been focused on assisting sub-Saharan African (SSA) member countries navigate the most challenging economic environment for decades. Through FY2023, AFRITAC South (AFS) collaborated with the African Department (AFR) and CD Departments (CDDs), to provide support on institutional reforms and building human capital to reduce macroeconomic vulnerabilities and strengthen resilience, which are key to setting the region on a higher growth path. In addition to supporting short-term stabilization goals, AFS CD has also covered critical new priority areas for medium- and longer-term growth prospects such as climate, gender, digitalization, and governance.
AFS Annual Report FY 2022
08/11/2022
We strived to support our members’ efforts to contain the impact of the COVID-19 pandemic on lives and livelihoods in the region. The center, in collaboration with the IMF HQ and partners, enhanced its engagement with members to identify and reprioritize capacity development (CD) services to fast-track policy responses and address skill gaps. The reprioritization reflected policy discussions between member countries and IMF teams in the context of program and surveillance. Despite the lockdown and digital challenges due to inadequate IT infrastructure in some countries, CD services to the region remained robust through the pandemic, following the trend of program engagement and financing. The center organized around 190 interventions in FY22 with over a third directed to fragile and conflict affected states (FCS)
AFS Phase III (FY24-FY28) Program
08/07/2022
This program document makes the case for a third five‐year phase, starting May 2023, for the Regional Technical Assistance (TA) Center for Southern Africa (AFRITAC South or AFS). It highlights AFS member countries’ progress during Phase II and proposes priorities for Phase III, which aim to consolidate progress into sustainable outcomes and undertake new reforms for a strong and inclusive recovery from the COVID‐19 pandemic. It reflects feedback from beneficiaries2 of AFS Capacity Development (CD), external financial partners, and regional bodies. It benefited from Phase II’s mid‐term external evaluation completed in March 2022 and an assessment by AFS of its CD traction. The work program, developed in consultation with IMF’s functional departments, draws from surveillance and program discussions conducted by country teams with the authorities and is consistent with the African Department’s Medium‐Term Regional Strategy for Capacity Development. It reflects local realities, including political economy considerations that influence reform appetite and pace, and vulnerabilities to shocks such as climate. The program is consistent with the IMF’s strategy for Fragile and Conflict‐affected States3 (FCS) [approved in 2022]. The engagement strategy for phase III rests on the hybrid delivery model, with a view to improving quality and traction of services and reducing delivery cost.
AFS Annual Report FY 2021
12/10/2021
This report highlights the realizations of member countries through FY21 and presents the priorities for FY22. FY21 was an exceptional year characterized by significant in-year changes in demand for capacity development (CD) services –mainly in connection with the COVID-19 pandemic and innovations on remote delivery modalities. The adaptability of member countries to remote modalities and the center’s flexible approach to accommodate new requests helped keep the momentum on CD delivery and make progress on critical milestones.
AFS Annual Report FY 2020
03/01/2021
This report is being presented at a time when concerted effort is being made by the international community to help countries better respond to the COVID-19 pandemic and to mitigate its impact. We have the pleasure to highlight in this report the realizations of AFRITAC South’s countries through FY2020 and present an updated capacity development (CD) plan for FY2021. The latter, inter-alia, reflects feedback from members on technical assistance (TA) and training priorities to better respond to a worsening macroeconomic context and to expedite the execution of reform plans. Amidst the lack of visibility on an easing of travel ban soon the center will continue to use remote channels to deliver this program.
In FY2020 the center’s commitment to step up engagement in countries facing fragile situations was fully achieved with 30 percent of CD resources allocated to this group. Overall, the volume of CD delivery grew in FY2020 –largely supported by good traction during the pre COVID-19 period.
Efforts to further integrate TA and training continued with increased number of missions supporting member countries’ absorptive capacities via customized workshops and peer learning programs. In line with IMF/AFR priorities the center delivered CD services to further strengthen fiscal, monetary and legislative frameworks governance. Work on gender is being supported through collaboration with the Africa Training Institute (ATI), IMF headquarters (HQ), and UN Women. The PFM port-folio is supporting climate resilience initiatives and providing training on gender macroeconomics.
AFS Annual Report FY 2019
11/19/2019
During this fiscal year, the traction of AFS capacity development advice remained high. AFS countries sustained macroeconomic reforms toward their sustainable development (SDGs) and financing for development (FfD) agendas. The achievements in public financial management, revenue (tax and customs) administration, monetary and financial sector supervision, statistics, and financial and fiscal legislation supported progress toward governments’ objectives to unlock growth potential, bolster resilience to shocks, improve competitiveness and business climate, and foster inclusion. If sustained, they will surely translate into tangible improvements in the populations’ living standards.
AFS medium-term strategy remains aligned to Phase II priorities and takes on board recommendations of the 2018 Review of the Fund’s CD Strategy. It aims to fast track outstanding reforms and adapt to the countries’ evolving priorities.
AFS Annual Report FY 2018
07/02/2018
FY18 was a milestone year for AFRITAC South (AFS) as it transitioned from its first to its second five-year phase with strong support from AFS beneficiary countries and development partners, including donors and regional organizations. It was also a challenging year with the implementation of new initiatives as well as some risks materializing in a few countries, which affected the delivery of AFS support. Some key areas of progress are:
-205 milestones fully or largely achieved by member countries;
-endorsement of the phase II program within the targeted timeframe;
-successful implementation of the IMF’s new RBM framework;
-introduction of 3-year rolling milestones and circulation of country-specific RBM logframes;
-finalization of funding agreements with member countries and several partners; and
-increased synergy with regional partners on CD priorities and agreement on joint initiatives.
AFS Program Document for the Second Phase
12/04/2017
Phase II program document sets the Center’s strategic direction in support of macroeconomic capacity building in the 13 member countries over the period August 2017 – April 2022. English, French and Portuguese versions can be downloaded below.
AFS Annual Report FY 2017
06/27/2017
Through FY17 capacity development initiatives aimed at strengthening economic institutions and empowering officials in the region continued to facilitate implementation of major reform plans and harmonization/integration programs with regional partners. FY17 has been another year with good realizations on several fronts. The Program Document for phase II, circulated in May 2017, and this report highlight the key milestones and outcomes achieved and the emerging CD needs. Most of the key milestones and outcomes have been met and independent assessments by development partners continued to assess favorably the center’s CD interventions.
AFS Annual Report FY 2016
06/09/2016
AFRITAC South (AFS) is now one year away from the conclusion of phase I. Over the past five years, the center has contributed to its member countries’ macroeconomic institution-building by helping to develop expertise, strengthen economic structures, and implement reforms.
AFS Annual Report FY 2015
11/25/2015
I have the pleasure of highlighting the achievements of AFRITAC South in FY15 and pointing to the road ahead. The year has been marked by the successful conclusion of the mid-term external evaluation.