- June 3, 2021
- Posted by: admin
- Category: Current News
The critical capacity building areas identified in the MEFMI Phase V Strategic Plan (2017 – 2021) included sustainable capacity in macroeconomic statistics which encompasses Government Finance Statistics (GFS). The adoption of the Government Finance Statistics Manual (GFSM, 2001) by MEFMI countries during previous phases led to comprehensive accounting frameworks for analysing and evaluating fiscal policy. This provided a good foundation for further advancement of capacity building in this area in the region. However, in 2015, the International Monetary Fund (IMF) introduced a revised manual in the form of GFSM, 2014. The manual focuses on the need to fill existing data gaps, particularly with regards to the general government sector and reporting balance sheet data. While most MEFMI member countries are currently in the process of adopting the minimum standards as per the revised GFSM, there are still fundamental issues to be addressed to fully adopt the GFSM 2014 conceptual framework. It is on this basis that MEFMI conducted an e-Learning workshop on GFS from 29 March – 30 April 2021.
The workshop enhanced participants’ knowledge on the conceptual framework and compilation of GFS as presented in the GFSM 2014. Further, it also presented practical aspects of data compilation through case studies, and explored innovative data collection methods and sources, given remote working conditions in member countries due to COVID-19 travel restrictions. In addition, the workshop raised participants’ awareness on GFS issues in line with the latest international compilation standards. Participants are expected to utilise the knowledge acquired from the workshop to improve methodologies for compilation and reporting GFS. The workshop also served as a first introductory step to a more advanced training course in this area to be rolled out later in the year.
All the 51 officials who participated in the workshop were drawn from 12 MEFMI member countries, namely Angola, Botswana, Eswatini, Kenya, Lesotho, Malawi, Mozambique, Rwanda, Tanzania, Uganda, Zambia and Zimbabwe
The resource team was made up of Mr. Senei Molapo, MEFMI Programme Manager and Graduate Fellow in the Macroeconomic Management Programme; Professor Antonio Franco, Independent Consultant, Macroeconomic Statistics and Analysis; Mr. Aquino Chilundo, MFS Analyst in the MFS Division (Statistics Department), Bank of Mozambique and MEFMI Graduate Fellow; Mr. Chathebert Mudhunguyo, Deputy Director, Ministry of Finance and Economic Development of Zimbabwe (Fiscal Policy and Advisory Services Department); and Ms. Marethabile Hlaahla, Chief Economist, Central Bank of Lesotho.