Background

Consistent macroeconomic data is critical for evidence-based economic policymaking. In light of this, financial programming remains a key analytical tool in the MEFMI region as it enables data collection, processing and analysis among the four macroeconomic accounts (National Accounts, Statement of Government Operations; Balance of Payments; and the Depository Corporation Survey) that represent the real, fiscal, external, and monetary sectors of the macroeconomy, respectively. It also allows for the interrelations among these accounts in an integrated and consistent manner. In recent years, MEFMI has received numerous capacity-building requests from member countries in this area.

The capacity gap has been created by high staff turnover in the region, new developments in the area and revisions to the manuals guiding the four macroeconomic accounts. This has resulted in a lack of consistent frameworks suitable for policy analysis, which are critical for economic development. It is against this background that MEFMI will conduct an E-learning workshop on financial programming and policy (FPP) framework using a simplified and guided step-by-step process.

Objectives

The objective of the course is to familiarize participants with concepts and practical useful techniques for consistency checks among the four macroeconomic accounts and help member countries to present data based on the latest international statistical manuals. It also aims to provide a platform for discussions of country practices in dealing with data collection and compilation challenges on the four macroeconomic accounts.

Course Content

The course covers the following:

• i. Principles underpinning the FPP Framework;
• ii. Principal features of the four main macroeconomic accounts (national accounts, balance of payments, depository corporation survey and statement of government operations);
• iii. Interrelations between the accounts;
• iv. Basic analysis including the interpretations of variables and indicators from these accounts; and
• v. Inter-account linkages, cross-account consistency checks and flow of funds.

Target Group

This course targets junior to middle-level staff in Central Banks, Ministries of Finance and National Statistics Offices responsible for compilation and dissemination of the four macroeconomic accounts.