Mauritius: Africa Training Institute to be Operational in June 2013

The Africa Training Institute set up by the International Monetary Fund (IMF) in collaboration with the Government of Mauritius for the training of officials across the sub-Saharan African countries will be operational in June 2013 in Mauritius.

A Memorandum of Understanding (MoU) was signed on April 19 in Washington between Mauritius and the IMF. The document specifies the contribution that Mauritius will be providing with regards to the costs of accommodation and training of over 200 officials per year through two-week courses as well as housing and the provision of equipment for the Institute.

The Institute has also received technical support and financial assistance from the Australian Agency for International Development and the Chinese authorities. It will offer courses and seminars for officials from Central Banks, Ministries of Finance and other Government agencies from across sub-Saharan Africa.

Training modules will cover macroeconomic policymaking and financial programming, public finance, exchange rate and monetary policies, economic integration, and financial sector issues, including banking supervision. The training will complement the activities of the IMF's Regional Technical Assistance Centres in Africa (AFRITACs) and other regional initiatives. In addition, the Centre will seek to host training by other international and regional organisations in their respective areas of expertise thereby expanding the range of courses and seminars offered.

Through these courses the Institute will help the IMF address existing training gaps and help in meeting the large demand for IMF training from sub-Saharan Africa while bringing the region’s training volume at par with those of other regions. The new Centre will also close a longstanding gap, as Africa had no IMF training centre despite considerable training needs.

In his remarks during the signing of the MoU, the Deputy Managing Director of the IMF, Mr Nemat Shafik, underlined that Mauritius is one of the leading middle-income countries in the world that partner with the IMF to support capacity development activities. Mr Shafik added that with its financial support for AFRITAC South and the Africa Training Institute, the Government of Mauritius clearly demonstrates its vision of becoming a knowledge hub for Africa.

Presently Mauritius already hosts the Regional Technical Assistance Centre for Southern Africa, AFRITAC South, which is operational since June 2011 and which offers capacity building services to some 13 countries across Southern Africa and the Indian Ocean. The areas covered by the Centre include: financial sector supervision, monetary policy and operations, tax and customs administration, public financial management, and macroeconomic statistics.