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Bank of England collaborating with CMI to build capacity of regional banks

The COMESA Monetary Institute (CMI) is collaborating with the Centre for Central Banking Studies of the Bank of England to train staff from Central Banks in COMESA Member States.

The latest training programme was on Advanced Training on Macroeconomic Modeling and Forecasting that was conducted from 25th to 29th April, 2016 in Nairobi, Kenya. This is the second year that the two institutions are hosting a joint programme.

The key objective of the training was to provide state of the art tools that can be applied by member countries in designing, formulating and implementing economic policies in their respective economies.

“The training will contribute to knowledge sharing and networking between COMESA member states on macroeconomic modeling and forecasting,” the Director of the COMESA Monetary Institute Mr. Ibrahim Zeidy said during the opening of the training.

Further, he said it will enable member Central Banks in member states to have a reference tool that can be applied in developing small macroeconomic model and specific models of inflation, exchange rate, consumption, investment, monetary transmission mechanisms and fiscal deficit management.

Prof. Kinandu Muragu, Executive Director Kenya School of Monetary Studies(KSMS) making opening remarks.

The training is expected to enhance the understanding of the practical interface between theory and real economic situation and strengthen CMI’s efforts to impart knowledge in modeling and forecasting in the region as an integral component of COMESA Monetary integration Programme.

Mr. Zeidy thanked Bank of England for their invaluable support.

Participants were drawn from 12 Central Banks of COMESA Member States namely: Burundi, D R Congo, Djibouti, Egypt, Ethiopia, Kenya, Madagascar, Sudan, Swaziland, Uganda, Zambia, and Zimbabwe.

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