Background
Evidence-based economic policy remains at the helm of the agenda of most developing countries and the MEFMI region is no exception. To support this agenda, there is a need for consistent, accurate, comprehensive macroeconomic data supported by a proper System of National Accounts, Balance of Payments and International Investment Position Manual, and the Government Finance Statistics. The need for capacity building in macroeconomic statistics continues to be a priority in MEFMI’s Phase VI period (2022 – 2026). To meet this need, the Institute will offer an advanced course on Monetary and Financial Statistics (MFS). Being a modular course, it will provide the basis for the migration of member countries to advanced standards applicable in the compilation of macroeconomic statistics in line with international best practices. The activity will build on the introductory course conducted in 2024 by MEFMI and IMF. The course materials shall mostly be based on the IMF Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG).

Objectives
This course aims to improve participants’ understanding of the methodology for compiling, reporting, and the usage of monetary and financial statistics per international best practices.

Content
The workshop will cover the following, among others:

• The scope and use of MFS, including the source data for monetary statistics and the compilation process.

• The foundational building blocks of MFS, including the concepts of residency, economic territory, and institutional sectors, as well as the characteristics of different categories of financial assets and liabilities.

• The accounting rules for the compilation of MFS, including time of recording and valuation principles.

• The different measures of money supply and other key aggregates, as well as their compilation methods from sectoral balance sheets of financial corporations; and

• The structure and components of the central bank, other depository corporations, and other financial corporations sectoral balance sheets and link them to the compilation of the analytical surveys.

Target Group
The primary target group for this activity is junior to middle level staff responsible for compiling and reporting MFS in national statistics offices/agencies, central banks and ministry of finance.