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First Workshop Held on Advanced Training Module on Modeling and Forecasting    

An In-Country workshop on Advanced Modeling and Forecasting as a Monetary Policy Analysis Tool was conducted by MEFMI for the Bank of Mozambique from 17 to 28 June 2013. The workshop attracted 24 economists. The MEFMI client institutions that fielded participants are the Bank of Mozambique, the Ministry of Finance and the Ministry of Planning and Economic Development.

The workshop covered advanced topics in applied econometrics such as ARMA, VARS, and SVARS methods, GMM, and an introduction to DSGE models. This was the first and successful attempt by MEFMI to conduct an advanced training module on modeling and forecasting in addition to the module I that is contained in the recently launched MEFMI Macroeconomic Modeling and Forecasting Manual.

Opening the workshop, Mr Felisberto Navalha, the director of research commended MEFMI's efforts to upgrade capacity at the bank and appreciated the rapid response that was given to the bank's request by MEFMI. He commended MEFMI for its high level of professionalism in arranging workshops as well as the manner in which the workshops are conducted.

Speaking on behalf of the MEFMI Executive Director, the MEFMI Programme Officer who was manning the activity appreciated the excellent collaboration between the bank and MEFMI and the fact that the bank always tries to ensure preparedness before hosting any MEFMI activities. He was pleased to see that all the challenges that were experienced during the course conducted last year which include software, internet, and low number of participants had been addressed.

The workshop was a follow up to the introductory course on modeling and forecasting (Module I) which was run for staff at the Bank of Mozambique in August 2012. The mode of delivery was mainly power-point presentations on theoretical issues in the mornings and practical sessions in the afternoons. The workshop went on as planned and participants demonstrated a high level of interest in the entire program. They actively participated and contributed in the practical sessions. The workshop content was quite comprehensive and covered all the relevant major concepts and useful tools for monetary policy analysis.

Based on the evaluations by both participants and resource persons, it can be noted that the training was a success. Dr Moses Sichei, CEO of MOSANA Training and Research Centre of Kenya and Mr. Jean Baptiste Havugimana, MEFMI Programme Officer were the resource persons. The workshop was officially closed by the Director General of Human Resources of the Bank of Mozambique.