By Isatou Jawara
A joint regional course on balance of payments and international investment position and public sector debt statistics has opened in Banjul last Monday.
It is being attended by delegates from the West and other parts of Africa.
Organised by the West African Institute for Financial and Economic Management and the IMF, the course aims to assist member countries in strengthening their capacities in public debt compilation, public data, and improve on existing practices of reporting on international debt practices by member countries.
The first deputy governor of the country’s apex bank, Dr Secku S Jabbi, said external statistics, which consists of balance of payments, and other statistics such as public sector debts, are amongst primary statistics on which policymakers and markets rely as basis for their decisions in globalised economies.
He said in his opening remarks: “These statistics on the external sector are key policymakers as well as analysts in the public sector, and indeed the private sector and international organisations. This is because external sector statistics assist economic agents to determine the link between the domestic and external economy and the sustainability of factors influencing external transactions.”
Dr Baba Musa, who spoke on behalf of Waifem Director, said public sector debt statistics was plan to assist countries’ efforts to improving on methodological soundness, transparency and availability of public debt data.
The IMF Representative Antonio Galicia Escotto, said IMF would support Ecowas member countries to build effective policy institutions concerning public sector debt statistics.
Galicia said balance of payments have change the landscape of financial markets and it analysis data of cross border and migration. The forum will last till 13 July 2018.