MEFMI, WAIFEM and IMF Collaborate in Enhancing Transparency of Public Sector Debt Statistics

Since its inception, MEFMI has prioritised developing, maintaining, and disseminating sound macroeconomic and financial statistics in member countries. This is done to support fiscal policy formulation and promote transparency and accountability. Statistics compiled in line with international methodological standards not only support sound policy analysis and formulation but also provide a firm basis for the monitoring and evaluation of public finances. They also assist in the early detection and monitoring of economic risks and vulnerabilities. Further, dissemination of the statistics promotes comparison of macroeconomic statistics and improves public policy debate, thereby ultimately enhancing transparency and fostering ‘governments’ accountability in the management of public finances.

To foster sound practice in debt statistics compilation and dissemination, MEFMI, WAIFEM and the IMF Statistics Department jointly delivered a virtual workshop on Government Finance and Public Sector Debt Statistics from 24 to 28 October 2022. The workshop’s main objective was to enhance participants’ knowledge on compilation and dissemination of government finance and public sector debt statistics in line with internationally recognised statistical reporting frameworks. Special emphasis was placed on enhancing participants’ understanding of Public Sector Debt Statistics (PSDS) principles and methodologies as the basis for compiling and disseminating public sector debt statistics. The workshop also aimed at providing a platform for peer learning and networking among the participants.

A total of 54 officials from 14 countries participated in the workshop, and these were drawn from the MEFMI and WAIFEM regions. Of these, 34 were from nine (9) MEFMI member countries, namely Angola, Botswana, Lesotho, Kenya, Mozambique, Rwanda, Uganda, Zambia, and Zimbabwe, while 20 were from five (5) WAIFEM member countries. Of the 34 participants from the MEFMI region, 21 (62 percent) were male while 13 (38 percent) were female.

The workshop was facilitated by three (3) resource persons provided on gratis by the IMF, namely Mr. Kinoshita Noriaki (Senior Economist, Government Finance Division, IMF); Mr. Gary Jones (Independent Consultant and a retired IMF Statistician) and Mr. Turinawe Obadia (Senior Economist, Government Finance Division, IMF). In addition, Messrs. Vikas Pandey and Ricardo Gonzalez from the Commonwealth Secretariat and the United Nations Conference on Trade and Development’s (UNCTAD) DMFAS Programme, respectively, made presentations on the use of the debt management and recording system to manage public sector debt.

Prepared by: Senei Molapo and Josephine Tito