Improving Economic Governance in Sub Saharan Africa

The Action will promote economic governance in Sub Saharan Africa by leveraging the expertise of IMF's network of five Regional Capacity Development Centres (RCDCs) and the Africa Training Institute (ATI) based in Sub Saharan Africa (SSA) which provide hands on capacity development (CD) support to IMF member countries in the region to modernize institutions and train officials. Jointly financed by the IMF development partners and beneficiary countries the RCDCs and ATI are demand oriented and work closely with their respective member countries to respond nimbly to CD needs. Their sustained CD support to finance ministries central banks revenue authorities and statistical agencies contribute to modernization of these government agencies. They also support their member countries¿ regional integration agenda and maintain a good collaboration with regional economic communities. The centers promote the integration of technical assistance and training to cater for the different capacities of the beneficiaries tailor trainings to specific needs provide hands on support based on demand and lastly to improve outreach and donor recognition. The Action leverages the IMF¿s expertise and its `trusted advisor¿ status to SSA countries¿ and will support reforms in domestic revenue mobilization and public financial management (PFM) financial sector stability and monetary policy operations economic analysis and forecasting relevant legal frameworks reporting of financial and macroeconomic statistics etc. The action will enable continued support for SSA countries in managing the impact of the COVID 19 pandemic and achieving a strong and sustainable recovery furthermore it will enable countries to complete the reforms initiated before the pandemic including efforts toward regional integration. The Action will assist SSA countries to tackle climate related challenges through economic policies. The RCDCs are also stepping up support on digitalization and big data gender imbalances and increasing support to fragile states. The Action will target almost all the countries of Sub Saharan Africa (i.e. 47 countries are covered by RCDCs and ATI).