High-Level Seminar on African Finance for the 21st Century
Tunis, Tunisia, March 4 – 5, 2008
Despite achieving macroeconomic stability in recent years, many countries in sub-Saharan Africa are still struggling to maintain a sustained economic growth path fostering economic development and poverty reduction. The consensus in academic as well as policy circles is that strong institutions are a necessary condition for sustainable growth. Many have argued that, among the large array of institutions that foster growth, a well functioning financial system is a sine qua non for development. The financial sector facilitates market exchange, mobilizes and pools savings, allocates capital efficiently and makes risk management possible.
The starting question of this high level seminar is: to what extent does the financial sector in Africa play these roles? And how can the efficiency of this institution be improved so that they can play a more active role in economic development? The seminar will allow participants to share their practical experiences in the financial sector. This will provide an opportunity to debate practical solutions for overcoming key obstacles that stymie financial sector development.
Targeted participants include high-level officials from governments, including ministries of finance, economy, planning, and development; financial regulation and supervision agencies, and central banks. The seminar will involve contributions by experts from official agencies in Africa, international financial institutions, the private sector, and academia.
The seminar is being organized by the IMF Institute under the auspices of the Joint Africa Institute. Cofinancing has been provided by the United Kingdom's Department for International Development (DFID). Attendance is by invitation only. Queries regarding the seminar may be addressed to insinfo@imf.org.Provisional Program
|
Tuesday, March 4 |
Session |
Subject |
|
8:15–9:00 am |
|
Registration of Participants |
|
9:00–9:15 am |
|
Welcoming Remarks |
|
African Finance for the 21st Century: Setting the Stage |
||
|
9:00–9:15 am |
I |
Setting the Stage |
|
|
|
Finance and Growth: A Virtuous Cycle |
|
|
|
Speaker : Professor Stephen Haber, Department of Political Science, A.A. and Jeanne Welch Chair, School of Humanities and Sciences, Stanford University |
|
|
|
Finance in Africa: A Diagnosis |
|
|
|
Speaker : Professor Patrick Honohan, Institute for International Integration Studies and Department of Economics, Trinity College, Dublin |
|
|
|
General Discussion |
|
10:30–10:45 am |
|
Coffee Break |
|
Theme I. Developing Financial Institutions and Markets |
||
|
10:45 am– |
II |
Developing Sound Financial Intermediaries |
|
|
|
Developing a Sound Banking System |
|
|
|
Speaker : Mr. Louis Kasekende, Chief Economist, African Development Bank |
|
|
|
From Informal to Formal Financial Sector |
|
|
|
Speaker : Professor Ernest Aryeetey, Director, Institute of Statistical, Social and Economic Research, University of Ghana |
|
|
|
Case Study on Microfinance Institutions in Madagascar: Policies for a Viable Sector |
|
|
|
Speaker : Ms. Emma Andrianasolo, Director, Banking and Financial Supervision Commission, Madagascar |
|
|
|
General Discussion |
|
|
|
Lunch: View from the Private Sector |
|
|
|
Speaker : Dr. Cecilia Ibru, Managing Director and CEO, Oceanic Bank International, Nigeria |
|
2:00–3:30 pm |
III |
Beyond Banking: Developing Markets |
|
|
|
Stock Markets in Africa |
|
|
|
Speaker: Professor Lemma Senbet, William E. Mayer Chair, Smith School of Business, University of Maryland at College Park |
|
|
|
Financing Equity Creatively |
|
|
|
Speaker: Mr. Tom Gibson, SME Think |
|
|
|
General Discussion |
|
3:30–3:45 pm |
|
Coffee Break |
|
3:45–5:15 pm |
IV |
Beyond Banking: Regional Financial Integration |
|
|
|
Regional Financial Integration |
|
|
|
Speaker: Mr. John Wakeman-Linn, Advisor, African Department, International Monetary Fund |
|
|
|
Case Study: The WAEMU Treasury Bill Market |
|
|
|
Speaker: Mr. Jean-Claude Brou, Special Advisor to the Governor, General Comptroller, Central Bank of West African States |
|
|
|
Case study on the FSRP in Rwanda |
|
|
|
Speaker: Ms. Consolate Rusagara, Vice-Governor, National Bank of Rwanda |
|
|
|
General Discussion |
|
7:00 pm |
|
Dinner |