Our Mission & Vision

Mission: To develop on a sustainable basis, competencies in the fields of macroeconomic, debt and financial sector management among the staff of central banks, ministries of finance and economic planning, as well as other public sector and private institutions.

Vision: To be among the best capacity building institutions in macroeconomic, debt and financial sector management in the world.

 

Macroeconomic Management Department: Summary of Outcomes

The macroeconomic management capacity building programmes since inception has contributed to the following outcomes in the member countries of the Institute: Click to view 2012 activities.

  • a critical mass of skilled officials for macroeconomic management and policy analysis in relevant government departments and central banks;
  • improved strategic understanding at the executive levels of the institutions responsible for macroeconomic policy; and
  • improved understanding of macroeconomic policy issues among parliamentarians and the media.

The functions of the department include:

  • Planning a curriculum of courses and seminars designed to meet the training and capacity building needs of senior officials and other professional-level staff of central banks, ministries of finance, economic and planning, and other government agencies involved in the formulation and implementation of macroeconomic policies;
  • Organisation and coordination of courses and seminars, mobilising the required human and financial resources, and making the necessary arrangements with the central banks (or other government bodies, when appropriate) for the participation of officials best suited to receive training;
  • acting as a centre for the collection and exchange of information on central banking and macroeconomic policies in the region, as well as on available consultancy resources and training activities, to make such information available to the national authorities;
  • ensuring that the activities of WAIFEM are adequately financed by contributions from the member central banks, as well as from external donors and the maintenance of proper accounting;
  • conducting seminars, training courses and executive fora on central banking and macroecomic issues;
  • designing and implementing course programmes for the training of suitably qualified staff drawn from accross the region;
  • publishing and disseminating information on central banking and macroeconomic policies in the region;
  • identifying, designing and promoting networks of researchers, analysts, managers and professional associations; and
  • collaborating with national, bilateral or multilateral training and relevant institutions in areas of capacity building similar to those of the West African Institute for Financial and Economic Management.

The above activities were further streamlined in 2000 on the basis of lessons learned and the update of the needs assessment study undertaken in 1999. Thus, a holistic capacity building approach adopted from 2000 to date. The broad objectives of the expanded mandate were to:

  • strengthen capacity to manage public and public guaranteed external debt and domestic central government debt, including contingent liabilities;
  • improve the skills and knowledge required for managing the development, regulation and supervision of the financial sector including banks and non-bank financial institutions, money and capital markets, and strengthen capacity for the management of internal reserves; and
  • improve the skills and knowledge required for macroeconomic policy analysis and management.

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