CMI and Central Bank of Egypt in International Reserve Management Training

The COMESA Monetary Institute (CMI) in collaboration with Central Bank of Egypt has conducted training in International Reserve Management. The training, conducted in Cairo, Egypt took place from 16 to 27 March 2014, following the decision of Governors of central banks in the COMESA region to conduct such training.

The Governors, during the 19th Meeting of the COMESA Committee of Central Bank Governors, held in Lilongwe, Malawi, in November 2013 directed CMI to organize the training.

Drawing on theoretical and practical applications, the course covered: reserve management guidelines; active/passive bond portfolio management; forwards, futures and SWAPS; financial risk management, risk and performance attribution; strategic asset allocation; and managing external managers’ portfolio, among others.

The training was attended by delegates from fourteen (14) Central Banks of COMESA Member States namely: Burundi, D R Congo, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Rwanda, Sudan, Uganda, Zambia, and Zimbabwe.

The feedback from the training indicates that the course achieved the following key objectives:

1. It provided hands on training, knowledge sharing and networking between COMESA Member States’ central banks on international reserve management;
2.  It provided a deeper understanding of best international reserve management practices; and,
3. It enhanced the skills of the participants for effective policy advice and decision making in the field of international reserve management.