Media alert: African Fiscal Forum – Fiscal Policy Challenges in Africa
4 Nov 2011The National Treasury and International Monetary Fund’s (IMF) Fiscal Affairs Department will next week jointly host the African Fiscal Forum, in partnership with the Collaborative African Budget Reform Initiative (CABRI).
The forum is modelled on the annual fiscal forum hosted by the IMF alongside their Spring meetings in Washington each year. This regional forum will bring together permanent secretaries and directors-general from Ministries of Finance across Africa to discuss fiscal challenges relevant to the economies and governments on the continent.
Media are invited to attend the Forum’s opening address and final roundtable discussion. A press conference will also be held following the conclusion of the event.
Details are as follows:
Venue: Townhouse Hotel and Conference Centre, 60 Corporation Street, Cape Town
Date: 9 and 10 November
Time: See programme details below
Presenters and panellists will be from across Africa, the IMF, African Development Bank, World Bank, Organisation for Economic Cooperation and Development and National Treasury.
The design of the programme between panel discussions, country experience presentations and a concluding roundtable discussion aims to provide a broad range of perspectives and sharing of lessons from the 2008/09 financial crisis and ideas for the next phase of fiscal development and management.
To confirm attendance, please send details to Kershia.firstname.lastname@example.org
The 2008/09 financial crisis has illustrated the importance of fiscal buffers in managing an economic downturn. Africa finds itself in the fortunate situation of still being able to access debt and is seen by many developed countries as a safe haven for excess savings and investment. For instance, The McKinsey report entitled ‘Lions on the move’ speaks of how foreign direct investment into Africa is at the same level of foreign investment into China and the importance of harnessing this for macro stability and growth. This inflow of budget support and foreign savings may not always exist. The conference will focus on issues around managing the commodity price cycle, macroeconomic risks to the budget, fiscal policy priorities and sustainably financing development.
Wednesday, 9 November 2011
8:15 – 8:45
Registration and coffee
8:45 – 9:30
Opening session Welcome address by Nhlanhla Nene, Deputy Minister of Finance, South Africa Sanjeev Gupta, Deputy Director, Fiscal Affairs Department, IMF
Thursday 10 November 2011
11:45 – 13:15
Final Session: Roundtable Discussion on Fiscal Policy Priorities
The roundtable will focus on priorities for the fiscal policy going forward in Africa. How can fiscal frameworks be strengthened? What fiscal reforms are needed? How can expenditures be prioritised and what are the challenges in mobilizing revenue?
- Sanjeev Gupta, Deputy Director, Fiscal Affairs Department, IMF
- Matthew Simmonds, Deputy Director General: Budget Office, South African National Treasury
- Roger Nord, Senior Advisor, African Department, IMF
- Lawrence Kiiza, Director Economic Affairs, Ministry of Finance, Uganda
- Director General, Ministry of Finance, Senegal (tbc)
- Edmund Koroma, Financial Secretary, Ministry of Finance, Sierra Leone
- Serge-Maurice Pambou, Permanent Secretary, Ministry of Finance, Gabon
13:15 – 14:00
Issued by: National Treasury
4 Nov 2011
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