Course participants in a group photograph

A course with a focus on monetary policy regimes, monetary transmission mechanism and the role of monetary policy in macroeconomic stabilization has begun in Accra.


The two-week West African regional course aims to equip participants with the ability to analyze how monetary policy decisions are taken under various regimes to deliver price stability; identify how these decisions are transmitted to the real economy and evaluate how the economy and monetary policy respond to macroeconomic shocks under various monetary policy frameworks.


The course will also provide participants with knowledge on the use of forecasting models and the design of a structured system for monetary policy analysis.


About 30 participants, representing the Ministries of Finance and the Central Banks of West Africa, are undergoing the course which is being organized by the International Monetary Fund (IMF) Institute for Capacity Development (ICD) in collaboration with the West African Institute for Financial and Economic Management (WAIFEM).


In a key note address delivered on his behalf, the Governor of the Bank of Ghana, Dr Ernest Kwamina Yedu Addison, said the course was intended to ensure that central bank participants were able to design a sound monetary policy framework as well as prepare policies consistent with the chosen framework.


Welcoming participants, Prof. Akpan Ekpo, Director-General, WAIFEM, said the course would bridge the gap between theory, empirical evidence and operational experience by conveying the optimization problems and tradeoffs involved in monetary policy decisions.



Source: ISD (G.D. Zaney)