- July 2, 2021
- Posted by: admin
- Category: Current News
Direct Investment statistics play a vital role in the analysis of macroeconomic developments in economies. However, challenges remain in the production of these statistics within the region owing to deficiencies associated with data collection systems, weaknesses in compilation and dissemination, and poor institutional coordination, among others. Furthermore, the increasing globalisation of production processes and technological advancement continue to pose complex methodological challenges for compilers, as it calls for innovation in existing data collection techniques. Moreover, the COVID-19 pandemic disruptions have presented challenges that require compilers to be proficient with alternative approaches to collect this data apart from the survey method. This requires continuous capacity building in the region to address existing and emerging challenges relating to the compilation of these statistics.
Against this background, MEFMI conducted an e-learning course on Compilation of Direct Investment Statistics over the period 17 May to 18 June 2021. The course was attended by 53 officials (30 male and 23 female) from 11 MEFMI member countries namely Angola, Botswana, Eswatini, Kenya, Lesotho, Malawi, Mozambique, Rwanda, Uganda, Zambia and Zimbabwe.
The course was designed to strengthen participants’ understanding of the following: the conceptual and methodological framework governing the compilation of direct investment statistics, data sources, data collection methodologies, data validation and estimation techniques, analysis and dissemination. The course also provided a platform to discuss and share country experiences on innovative data collection strategies and estimation techniques to support the continuity of compilation of direct investment statistics amid disruptions to survey data collection induced by the COVID -19 pandemic. The course also raised awareness on the compilation of Foreign Affiliates Statistics, an area that is increasingly attracting interest internationally and yet not compiled by most of the MEFMI countries.
MEFMI expects that participants will apply the knowledge and skills gained from the course to improve the quality of direct investment statistics in their countries and to also explore various data sources to close existing data gaps. This will subsequently improve the quality of their Balance of Payments and International Investment Position statistics and guide evidence-based policy formulation on the external sector and investment promotion.
The course was facilitated by three resource persons, namely Ms. Vivian Namugambe (MEFMI Staff); Dr. Wilson Phiri and Mr. Rodney Lwanga (both MEFMI Accredited Fellows who specialised in foreign private capital flows).