Addis Ababa, 15 November 2024 (ECA) - Experts from planning commissions and ministries of Finance recently completed training in macroeconomic modelling, facilitated by the United Nations Economic Commission for Africa (ECA). The trainees hailed from Ethiopia, The Gambia, Ghana, and Uganda.
In his opening remarks, ECA’s Hopestone Chavula, Officer-In-Charge of the Macroeconomics Analysis Section, underscored the importance of the forecasting modelling framework for member states. The tool assists in policy formulation and implementation processes based on concise and timely forecasts. These forecasts, said Chavula, play a significant role in the countries’ development planning processes as countries accelerate efforts towards achieving their sustainable development goals and the AU’s Agenda 2063 for the Africa We Want.
Organized by the Macroeconomics, Finance and Governance Division, the training was based on the ECA macroeconomic model framework – a tool designed to strengthen the capacity of experts in macroeconomic modelling. The model takes into account climate change effects and debt sustainability issues.
Emphasis was placed on debt analysis, tax revenue and forecasting as issues such as debt vulnerabilities and limited domestic resource mobilization have continued to undermine development and financing strategies in member countries.
At the end of the workshop, participants were able to model their economies, update their countries’ models, produce projections, do scenario analysis to capture the impact of policy changes; and deduce policy implications from the projections.
The training was conducted in line with ECA’s mandate of providing technical support and policy advice to member States upon request.
Issued by:
Communications Section
Economic Commission for Africa
PO Box 3001
Addis Ababa
Ethiopia
Tel: +251 11 551 5826
E-mail: eca-info@un.org