First Session of Committee on Economic Governance - Highlights
In its first session, the Committee on Economic Governance focused on electing its Bureau and endorsed the work program for 2022-2023. The Division aims to support Africa's development agenda through research, capacity building, and policy frameworks in macroeconomic policy and governance.
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Report of the Committee of Economic Governance on its first session (Doc Ref. No.: E/ECA/COE/41/11) Adam Elhiraika (PhD.), Macroeconomics and Governance Division, UN Economic Commission for Africa 16 March 2023
First session of the Committee on Economic Governance The first session of the Committee on Economic Governance was held online on 27 April 2022 All African subregions were represented. The decision to establish the Committee was endorsed by COM2019 in Marrakech, Morocco, in resolution 966 (LII). The Committee will meet biennially and provide evidence-based advice and guidance on economic governance issues During the first session, the Committee focused on the election of the Bureau. Together with the secretariat of the Committee, the Bureau will coordinate the work of the Committee for the next two years. Representatives from Algeria, Cameroon, Ethiopia, Ghana and Lesotho were elected to the Bureau. Each of the countries represents its respective subregion. The Committee also reviewed and endorsed the 2022 2023 work programme of the macroeconomic policy and governance subprogramme of ECA
Mandates of the Division Supports the achievement of Africa s development agenda through development planning, macroeconomic policy and economic governance, and public finance Our areas of work Analytical work: MGD works as a think tank through conducting multisectoral research and analysis on areas of economic development, development planning and economic governance Technical Support: Capacity building work through direct demand-based support to member States in areas of macroeconomic and economic governance in collaboration with the United Nations system at the country level Convening roles: throughproviding dedicated regional intergovernmental and multi- stakeholder platforms with strong ownership by member States, regional bodies and development banks that result in agreed development policy frameworks, standards and action plans that reinforce multilateralism at the regional and subregional levels in the field of macroeconomics and economic governance
Main areas of work of Macroeconomic Analysis Section for 2022-2023 Objective: Enhanced capacity of MS in macroeconomic policy analysis that promotes inclusive growth, sustainable development and structural transformation Macroeconomic modelling to inform policy making Development, customization, and training in the use of the ECA macroeconomic model for selected countries Work on debt and financing framework Taxation and peer learning Advisory service to member states on emerging macroeconomic issues Advisory service for taxation and on increasing liquidity and investment financing for African countries funded by Gates Foundation Knowledge Products Africa Quarterly Economic Performance and Outlook Economic Report on Africa Debt management report Research on the impact of Ukraine crisis on Africa
Main areas of work of Development Planning Section for 2022-2023 Objective: Improved capacity in development planning for sustainable development and structural transformation in Africa Integrated National Planning and Reporting Toolkit Online and in-person training and follow up actions to ensure effective application of IPRT Deployment and adoption of the integrated Planning and Reporting Toolkit in additional 6 countries Consultation workshops on national development planning and implementation processes Advisory Services Advisory services to member States & RECs on development planning & strategies; Launch of a macro policy and development planning forum for knowledge and experience sharing; Leveraging ongoing work of INFF, IPRT and ARTS to ensure synergy and concerted efforts Knowledge Products Africa Sustainable Development Goals Report Thematic research papers: Emerging economic issues and challenges to Africa s growth and development Policy briefs
Main areas of work of Economic Governance and Public Finance for 2022-2023 Objective: Enhanced capacity of member States to mobilize public resources and improved economic governance architecture Curbing Illicit Financial Flows in Africa Statistical work led by ECA-UNCTAD-UNODC in 12 pilot countries to measure the extent of illicit financial flows; Policy work to support countries develop the relevant policy measures to prevent IFFs Recovery of stolen asset through work on Asset Recovery Initiative Integrated National Financing Framework (INFF) Burkina Faso and Zambia to align national plans, priorities with financing strategies through INFF; Regional platform of communities of practice of focal persons for knowledge and experience sharing; Leveraging ongoing work of INFF, IPRT and ARTS to ensure synergy and concerted efforts Knowledge Products Annual publications: EGR I and EGR II Thematic research papers: COVID-19 stimulus measures impact on SMEs, Financing challenges of LMIC, Asset recovery, Tax incentives in mining Policy briefs
The Committee observations The Committee noted the timeliness and the importance of economic governance discourse on the continent, including for achieving the Addis Ababa Action Agenda. The Committee stressed that peer learning would be critical for African countries in attaining inclusive and sustainable development and expressed the hope that the Committee would provide an opportunity to focus on the implementation of recommendations and sharing of experiences on such issues as debt, structural transformation, illicit financial flows, mainstreaming of the Sustainable Development Goals into development plans and response to global crises. Participants also noted the progress made in aligning the integrated planning and reporting toolkit with the Integrated National Financial framework and promised to share their experiences of implementing the INFF with one another, with a view to improving its implementation across the continent The Committee took note of the multifaceted global crises and emphasized the need to analyse the impact of these shocks and to develop mitigating strategies
THANK YOU! Follow the conversation: #COM2023 More: www.uneca.org/cfm2023
