AREAS OF FOCUS

The Institute's three areas of core competence are:

1. Debt management;

2. Financial sector management;

3. Macroeconomic management.

It also engages in Consultancy and Research activities.

DEBT MANAGEMENT PROGRAMMES

The Institute has however selected debt management as its core area, due to the importance of the external debt burden as a fundamental constraint on growth, development and poverty reduction in its member countries and their inherent serious capacity gaps for debt management. Specifically, the debt management programme is expected among others, to help strengthen considerably, the capacity of several West African countries to develop, present and negotiate a case for debt relief through the HIPC Initiative.

The outputs cover seven broad areas of capacity building, as follows:

• The production of national capacity building plans for debt management;
• An improved legal framework and appropriate institutional and organizational arrangements for debt management;
• Strengthened capacity for basic external debt management functions, including debt recording, disbursement procedures and debt servicing;
• Strengthened capacity for renegotiation of external debt and for new external borrowing;
• Strengthened capacity for domestic public debt management functions;
• Strengthened capacity for debt sustainability analysis and the development of national debt strategies;

Strengthened awareness of debt management policy issues, among senior government officials, legislators, the media and other opinion-leaders.

Links to Debt Management Websites

Debt Management Software:

· Debt-Pro

· DSM+

· Debt Management and Financial Analysis System (DMFAS)

· The Commonwealth Secretariat Debt Recording and Management System (CS-DRMS)

Debt Data & Statistics

· Joint BIS-IMF-OECD- World Bank Statistics on External Debt

· HIPC's Debt Statistics (World Bank)

· International Financial Statistics (BIS)

· General Data Dissemination System (IMF)

· Partnership for Development in the 21st Century (Paris21)

Debt Strategy

· HIPC-CBP/Debt Relief International (DRI)

· World Bank Treasury/Public Debt Management

· Debt-Pro

· Macroeconomic and Financial Management Institute of Eastern & Southern Africa (MEFMI)

· Banque Centrale des Etats de l'Afrique de l'Quest (BCEAO)

· Centro de Estudios Monetarios Latinoamericanos (CEMLA)

· International Monetary Fund (IMF)

Debt Negotiations

· Club de Paris (Paris Club)

· United Nations Institute for Training and Research (UNITAR)

Debt Management Issues

· African Forum and Network on Debt and Development (AFRODAD)

· Debt Channel.org

· Debt Link.org

· European Network on Debt and Development (EURODAD)

· Forum on Debt and Development (FONDAD)

· Jubilee Research

FINANCIAL SECTOR MANAGEMENT PROGRAMME

Outputs of the Financial Sector Programme:

i) Development of capital and money markets;
ii) Pricing and marketing of government securities;
iii) Regulation and supervision of bank and non-bank financial institutions;
iv) Foreign exchange markets and exchange rate policy and issues relating to international capital flows and balance of payments;
v) Active reserves management;
vi) Improve strategic understanding at the executive level of Central Banks and Governments regarding financial sector policies;
vii) Operational plans for future WAIFEM sub-programme of integrated capacity building in new thematic areas of financial sector management, based on detailed assessments;
viii) Improved legal framework, appropriate institutional and organizational arrangements and skilled human resources for management of international reserves.

Links to Financial Sector Related website:

· Bank of International Settlements

· International Monetary Fund (IMF)

· IMCL International Management Consultant

· The World Bank

MACROECONOMIC MANAGEMENT PROGRAMME

The Institute conducts programmes geared toward the development of skills in macroeconomic policy analysis and its related techniques of modeling and forecasting which have close synergies with the debt management programme in view of the importance of developing capacity for debt sustainability analysis and poverty reduction strategies. Other areas of focus include fiscal management, privatization and macroeconomic dimensions of regional integration.
This programme produces five principal outputs:

• A critical mass of skilled officials in different aspects of macroeconomic management and policy analysis;
• Improved strategic understanding at the executive levels of the institutions responsible for macroeconomic policy;
• Improved understanding of macroeconomic policy issues among parliamentarians and the mass media;
• Plans for future sub- programme of integrated capacity building in new thematic areas of macroeconomic management, based on detailed needs assessment.
• Providing a framework for policy dialogue among senior policy makers through policy seminars and executive fora.

Links to Macroeconomic Management websites

The World Bank.org
International Monetary Fund (IMF)
National Institute of Economic and Social Research/
Statistics Portal/
Asian Development Outlook 2002 - ADB.org
http://www.brettonwoodsproject.org/

In a move to consolidate the gains and to build on its experience during the first four years of its operation, the Institute has entered into a new phase of training activities with the adoption of an integrated approach to capacity building in accordance with the objective of its medium term Capacity Building Programme (CBP) spanning the period 2001 - 2004.

The CBP has the following cardinal objectives:

• To improve the skills and knowledge required for macroeconomic policy analysis and management;
• To strengthen capacity to manage public external debt and domestic central bank debt, including contingent liabilities; and
• To improve the skills and knowledge required for managing the development, regulation and supervision of the financial sector, including bank and non-bank financial institutions, money and capital markets, and to strengthen capacity for the management of international reserves.

Under the CBP, WAIFEM is extending its activities beyond short-term courses to institutional and governance dimensions of human resource development and management in the target area.

Taking into account the broader governance context of economic policy-making and management, WAIFEM has expanded its audience beyond the officials directly involved in these activities, in order to reach other key actors, such as legislators and the mass media with a view to improving their capacity to assess economic and financial policy issues and performance.