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Building Economic Management and Corporate Governance Capacities Strong systems of public finance management are necessary for African states to administer scarce resources efficiently; formulate, implement, and enforce sound macroeconomic and poverty reduction policies and regulations; and be monitored and held accountable. Many African governments suffer from poor economic performance and exceedingly high deficit spending due to weaknesses in their institutional capacity for transparent budget preparation and execution. Additionally, lack of transparency in monetary and financial agencies, poor regulatory frameworks, and lax financial controls within the public sector have lead to serious abuse and outright corruption. Good corporate governance is also essential as African governments become more competitive and market-oriented and increasingly recognize the private sector as a prime engine for bringing in investment, technology, training, and employment that stimulates growth and development. As countries struggle to attract domestic and international capital, there is an urgent need to tackle the concerns of investors that Africa is a high-risk continent and move to protect their funds with transparent laws and regulations that are well understood and enforced. By aligning their financial sectors with international codes and standards as well, African countries can create an environment conducive to investment and savings. In this area, DPMD focuses on:
DPMD studies underway:
Recent DPMD Publications:
Contact:
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