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The high-level conference, co-hosted by the IMF and the Government of Mozambique provided a platform to discuss challenges facing sub-Saharan Africa and the policies that will take the region to the next phase of economic development. Issues on inclusive growth, structural transformation, natural resource management and the IMF’s role to support the region were discussed. The event was preceded by a one day conference during the IMF-World Bank Spring Meetings focusing on crucial policy challenges in sub-Saharan Africa.

This policy paper finds that diversification and structural transformation influence macroeconomic performance of LICs. The associated data, provided in a publicly-available toolkit, will allow authorities, mission teams, and researchers to  complete case studies, identify bottlenecks, and construct appropriate policy responses.

A high-level conference led by the IMF and Bank of Uganda in March, 2014 focused on the implementation and operational aspects required for a successful transition to modern monetary policy frameworks.

Registration is now open for several free online courses. Courses open to the general public can be found here. The Institute for Capacity Development catalog includes additional courses offered exclusively for government officials.


A recent IMF Board paper proposes introducing a monetary policy consultation clause (MPCC) into the existing review-based conditionality framework. For countries with evolving monetary policy regimes, the MPCC would serve as an alternative to performance criteria on reserve money and net domestic assets.

In January, 2014, experienced macroeconomists along with researchers new to the field of macro issues in LICs came together for the conference co-sponsored by the IMF and the U.K. Department for International Development (DFID).  Topics included monetary policy, natural resource management, investment and growth, diversification and structural transformation, and financial sector development.

The paper provides an organizing framework for determining proxies for the cost of holding reserves appropriate for different types of LICs. It also proposes a refinement to the estimation of the benefits of holding reserves in resource-rich LICs.

The Fund has extended the Africa regional technical assistance center (AFRITAC) network to serve all sub-Saharan African countries by opening its fifth AFRITAC in Ghana in March 2014. Resident experts provide capacity building services and assistance in areas such as financial sector supervision, monetary operations, tax/customs administration, and macroeconomic statistics.

Fragile States Ministers discuss enhancing engagement with IMF
The workshop, attended by ministers from the g7+ group of fragile states, aimed to enhance mutual understanding of the particular economic and political challenges faced by fragile states, and of the role the IMF can play in supporting these countries.


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    Featured Articles: Shifting Global Forces: What Do They Portend for Sub-Saharan Africa?; Are Sub-Saharan African Current Account Deficits a Source of Concern?; The Role of Productivity in Reducing Poverty: The Experiences of Mozambique and Vietnam; Monetary Policy Landscape in Sub-Saharan Africa; Snapshot of Monetary Policy Frameworks in Sub-Saharan Africa; Key Drivers of the Evolution of Monetary Policy Frameworks in Sub-Saharan Africa; How to Make Monetary Policy in Sub-Saharan African Countries More Effective
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