Regional Workshop on Economic, Financial Analysis Ends

Regional Workshop on Economic, Financial Analysis Ends

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The West African Institute for Financial and Economic Management (WAIFEM) recently concluded eight-day regional workshop on economic and financial analysis.

The seminar, held at the Liberian Capital Monrovia, was designed to equip those from the media with an excellent theoretical and practical overview and insight into economic and financial analysis.

The forum also exposed participants to a number of issues such as review of basic macroeconomic model; design and tools of monetary policy; coordination of monetary and fiscal policies; regional economic integration; rationale, challenges and prospects; role of financial markets; fiscal policy management; the role of statistics in economic management among a host of others.

Welcoming the participants, Milton A. Weeks, executive governor, Central Bank of Liberia, on behalf of the President of Liberia, Her Excellency Ellen Johnson Sirleaf, underscored the importance of the forum, saying economic and financial analysts require professional skills, so that the output would not only be accurate, but also reliable.

“Failure to appreciate the importance of the stakeholders often leads to poor collection, compilation and dissemination of economic and financial statistics, thereby rendering the corresponding economic and financial analysis spurious,” he added.

He went on: “I am informed that the course aims at updating the knowledge and upgrading the skills of economic and financial analysts particularly media practitioners in economic and financial policy formulation, analysis, performance monitoring and reporting. It is expected to increase the quotient of participants in economic and financial analysis towards promoting a greater public awareness of domestic and international economic and financial issues in the interest of more enlightened public.”

Speaking earlier, Professor Akpan H. Ekpo, director general of WAIFEM, said his institution has recently extended its expertise to the private sector by establishing a Business Development Unit.

The unit, according to him, targets the private sector in the sub-region. “However, some of the programmes of the Unit may also benefit the Central Banks and relevant public institutions.”

He thus assured participants of quality resource persons drawn from the academia; practitioners, as well as from WAIFEM assembled to facilitate the workshop.

by Samba Jawo back

from Monrovia, Liberia