DFID will contribute £6.2m ($9.3m) for IMF experts to help improve macroeconomic statistics in the region over the next five years.
The IMF said this initiative will build on the second phase of a DFID-funded statistics project for Africa – the Enhanced Data Dissemination Initiative 2 (EDD12) – which was implemented by the fund during 2010-15. Under the project, many countries were able to produce quarterly national accounts for the first time, increase the frequency and accuracy in government finance statistics and rebase their national accounts.
Starting this month, EDD12 will provide technical assistance and training to countries on a broad range of macroeconomic statistics. It will include national accounts and prices, monetary and financial statistics, government finance statistics, external sector statistics and data dissemination.
The IMF added that its team of statistics experts would undertake technical missions to individual countries and lead regional workshops and seminars, working with regional organisations and agencies to promote an exchange of experiences and lessons learned.
Louis Marc Ducharme, director of the IMF statistics department, said: ‘DFID has been a very reliable partner to the IMF in statistical capacity building and shares our vision on improving macroeconomic statistics.
‘I am very pleased with this partnership and look forward to measurable results in our targeted countries. The expected outcome of the project is that improved quality and timeliness of macroeconomic statistics will support more effective economic policies and poverty reduction strategies in Africa and the Middle East.’
