Small middle-income countries (MICs) in sub-Saharan Africa (SSA) have generally been successful over the years. However, growth drivers change as economies develop, and many small MICs in SSA now face development and structural constraints which are hindering them to gain high-income status. What are these common policy challenges, and how can IMF surveillance draw on country experiences to best help address these challenges? The conference provided a forum for policy makers and IMF staff to discuss relevant issues, highlight commonalities and thus help cross fertilization and peer learning.
Challenges Facing Small Middle-Income Countries in
Sub-Saharan Africa
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IMF – HQ1 BL-702 Conference Room
1900 Pennsylvania Ave., N.W., Washington DC |
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THURSDAY, APRIL 18, 2013 |
| 8:30 a.m. |
Coffee/Registration
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| 9:00 a.m. |
Opening Remarks: Ms. Antoinette M. Sayeh, Director of the African Department, IMF
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| 9:15 a.m. |
Keynote Address: Mr. Min ZHU, Deputy Managing Director, IMF
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SESSION I: MACROECONOMIC CHALLENGES: INCREASING RESILIENCE AND FOSTERING FASTER TRANSITION TO HIGH-INCOME STATUS |
| 9:30 a.m. |
Moderator: Ms. Anne-Marie Gulde-Wolf, Deputy Director, African Department, IMF
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| 9:35 a.m. |
Opening Remarks: Ms. Cristina Duarte, Finance Minister of Cape Verde
“Macroeconomic Challenges facing MICs in SSA”
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| 9:45 a.m. |
Presentation: "Macroeconomic Challenges facing small MICs and Transitioning from Middle-Income Status to High-Income Status"
Lamin Leigh, African Department, Mission Chief for Botswana and Namibia
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| 10.00 a.m. |
Commentators:
- Ms. Therese Turner-Jones, IMF Mission chief for Barbados
- Mr. Martin Petri-IMF Mission Chief for Mauritius
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| 10:15 a.m. |
Questions and Comments from the floor
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| 10:30 a.m. |
Coffee Break
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SESSION II: FINANCIAL STABILITY AND DEVELOPMENT ISSUES FACING MICS
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| 11:00 a.m. |
Moderator: Christopher Towe, Deputy Director, Monetary and Capital Markets Department
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| 11:05 a.m. |
Opening Remarks: Mr. Ebson Uanguta, First Deputy Governor of Bank of Namibia
“Old and New Challenges on Financial Stability and Development in MICs”
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| 11:15 a.m. |
Presentation: "Implications of Global Financial Regulatory Reforms for MICs in SSA"
- Mr. Sukhwinder Singh–IMF Mission Chief for Cape Verde
- Mr. Yibin Mu, Desk Economist for South Africa, IMF
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| 11:30 a.m. |
Commentators:
- Mr. Rundheersing Bheenick, Governor of Bank of Mauritius
- Mr. Kal Wajid–Division Chief, African Department, IMF
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| 11:45 a.m. |
Questions and Comments from the floor
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| 12:15 p.m. |
Luncheon (by Invitation)
Hosted by Ms. Antoinette M. Sayeh, Director of the African Department, IMF
Luncheon Remarks: “Getting it Right: Lessons from Chile’s Transition from Middle-Income Status.”
Dr. Jose de Gregorio, Former Minister of the Economy and Mining, Former Governor of The Central Bank of Chile
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SESSION III: INCLUSIVE GROWTH, JOBS AND DIVERSIFICATION IN MICS
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| 2:00 p.m. |
Moderator: Mr. Shanta Devarajan, Chief Economist, World Bank Africa Region
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| 2:05 p.m. |
Opening Remarks: Mr. Ali Mansoor, Financial Secretary, Ministry of Finance and Economic Development of Mauritius
“The Challenges of Inclusive Growth, Jobs and Economic Diversification for MICs in SSA”
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| 2:15 p.m. |
Fostering Inclusive Growth and Jobs in MICs in SSA
Ms. Carol Baker-IMF Mission Chief for Seychelles
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| 2:30 p.m. |
Commentators:
- Mr. Martin Dlamini, Governor of Central Bank of Swaziland
- Mr. Jiro Honda, IMF Mission Chief for Lesotho
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| 2:45 p.m. |
Questions and Comments from the floor
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SESSION IV: CAPACITY BUILDING AND TECHNICAL ASSISTANCE IN MICS
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| 3:00 p.m. |
Moderator: Ms. Sharmini Coorey, Director, Institute for Capacity Development , IMF
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| 3:05 p.m. |
Opening Remarks: Mr. Pierre Laporte, Minister of Finance of Seychelles
“Capacity Building and Technical Assistance in MICs”
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| 3:15 p.m. |
Presentation: Fostering Institutional and Capacity Building to Support Sustainable Long-Term Growth in MICs
Vitaliy Kramarenko, Director AFRITAC South
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| 3:30 p.m. |
Commentators:
- Dr. Rets'elisitsoe Adelaide Matlanyane, Governor of Bank of Lesotho
- Mr. Joannes Mongardini-IMF Mission Chief for Swaziland
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| 3:45 p.m. |
Questions and Comments from the floor
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| 4:00 p.m. |
Coffee Break
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SESSION V: CLOSING ROUNDTABLE DISCUSSION: KEY POLICY LESSONS FOR MICS IN SSA
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| 4:15 – 5:00 p.m. |
Moderator :
Mr. Min Zhu, Deputy Managing Director, IMF
Panelists:
- Ms. Linah Mohohlo, Governor, Bank of Botswana
- Mr. Carlos Burgo, Governor, Bank of Cape Verde
- Dr. Leketekete Victor Ketso, Minister of Finance, Lesotho
- Hon. Majozi Sithole, Minister of Finance, Swaziland
- Ms. Antoinette M. Sayeh, Director of the African Department, IMF
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