OBJECTIVES
The overall objective of the virtual conference jointly organised by ATI and AUC is to contribute to the ongoing discussion on the macroeconomic impacts of pandemics in light of COVID-19 and the appropriate policy responses.
The conference will facilitate virtual discussions of the dynamics of the pandemic in SSA and how it is impacting factor inputs and productivity.
It will highlight the urgency of accelerating progress on the health-related SDGs.
The virtual conference offers a unique opportunity for peer-learning amongst countries in the continent. "
The specific objectives of the conference include:
- reviewing the macroeconomic impacts of the disease across countries and their transmission mechanisms;
- discussing the policy responses offered by authorities; and
- assessing the impacts of confinements and containment measures on growth, jobs, and income.
Conference guidelines
To view the conference guidelines in both English and French, please click here.
Daily Agenda
DAY 1 - UNDERSTANDING COVID-19 AND ITS IMPACTS
MAY 19
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(Time is in Eastern Daylight Time = GMT- 4 hours)
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Print English Version
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Print French Version
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08:45
(GMT: 12.45PM)
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VIRTUAL ENVIRONMENT OPENS
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WELCOME AND OVERVIEW
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09:00 - 09:30
(GMT: 13.00-13.30)
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Welcome remarks: The IMF and AUC will welcome members, present the objectives and structure of the conference, and give each organizations an opportunity to share their Covid-19 key messages and contributions.
Speakers:
- Prof. Victor Harison, Commissioner for Economic Affairs, AUC
- Mr. Abebe Aemro Selassie, Director African Department, IMF
- Dr. Albert Zeufack, Chief Economist, Africa Region, World Bank
- Dr. I. Socé Fall, Assistant Director-General Emergencies Response, WHO
- Mr. Andy Berg, Deputy Director, IMF Institute for Capacity Development
Moderator:
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PANEL 1: THE ECONOMICS OF PANDEMICS
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09:30 - 10:30
(GMT: 13.30-14.30)
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Understanding pandemics - Conceptual considerations
- Transmission dynamics (reproductive number) and specificities of Covid-19
- Linking transmission dynamics of diseases to economic impacts
- Balancing act: Human behavioral responses to control infections and their economic costs - Value of life considerations
- Individual behavioral response (social distancing, etc.) and economic impact on decisions by economic agents and related economic costs
- Government-mandated behavioral responses (quarantines, lockdowns, etc.) and economic costs
Speakers:
Panelists:
Moderator: Mr. Andy Berg, Deputy Director IMF Institute for Capacity Development
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PANEL 2: COVID-19'S ECONOMIC IMPACT GLOBALLY AND IN AFRICA
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10:30 - 11:30
(GMT: 14.30-15.30)
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The nature and size of the Covid-19 shock and impacts on the world economy
- Overview of the world behavioral response (by region/country)
- Economic impacts (demand, supply, output, livelihoods, by region/industry, etc.)
The Covid-19 macroeconomic impact on SSA
- Impact on factor inputs (labor, capital, FDI, trade, etc.) and productivity
- Impacts on budgets and financial sectors in the region
- Economic costs and benefits of containment policies in SSA
- Are there alternative measures that don't put the economy on standstill?
- Impacts and political-economy considerations (by Panelists)
- SSA's specifics constraints (economical, political, social, sanitary)
Speakers:
Panelists:
Moderator: Prof. Victor Harison, Commissioner for Economic Affairs, AUC
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CLOSING SESSION
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11:30 - 11:45
(GMT: 15.30-15.45)
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Closing address
Speakers:
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DAY 2 - MACROECONOMIC POLICIES FOR PANDEMICS
MAY 22
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(Time is in Eastern Daylight Time = GMT- 4 hours)
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Print English Version
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Print French Version
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08:45
(GMT: 12.45PM)
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VIRTUAL ENVIRONMENT OPENS
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PANEL 1: POLICY CHALLENGES IN AFRICA IN RESPONSE TO THE COVID-19 CRISIS
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09:00 - 10:00
(GMT: 13.00-14.00)
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Key features of the Covid-19 crisis and policy objectives
- A different role for economic policy making
- The nature of the uncertainty on the duration and depth of the crisis
- Policy objectives when the crisis is in full swing and when it is under control
- Policy constraints in low income countries
Speakers:
Panelists:
Moderator: Hon. Zainab Shamsuna Ahmed, Minister of Finance, Nigeria
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PANEL 2: MACROECONOMIC POLICY RESPONSE TO COVID-19 IN AFRICA
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10:00 - 11:00
(GMT: 14.00-15.00)
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It's not only fiscal: An overview of the macroeconomic policy toolbox
- Formulating macroeconomic policy objectives and the available policy tools
- The importance of good-quality statistics
- The role of fiscal policy
- The role of monetary, exchange rate, and financial sector policy
- An Integrated Policy Framework to formulate Covid-19 policy response in Africa
Speakers:
Panelists:
Moderator: Prof. Bamba Ngaladjo, advisor to the finance minister, Côte d'Ivoire
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CLOSING SESSION
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11:00 - 11:10
(GMT 15.00-15.10)
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Closing address
Speakers:
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DAY 3 - FISCAL POLICY AND PUBLIC FINANCIAL MANAGEMENT RESPONSE TO COVID-19
MAY 26
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(Time is in Eastern Daylight Time = GMT- 4 hours)
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Print English Version
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Print French Version
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08:45
(GMT: 12.45PM)
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VIRTUAL ENVIRONMENT OPENS
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PANEL 1: FORMULATING A FISCAL POLICY RESPONSE TO COVID-19 IN AFRICA
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09:00 - 10:00
(GMT 13.00-14.00)
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Fiscal policies to protect people during the pandemic
- Fiscal support in countries around the world
- Impacts on deficits and debt
- How to support households and firms
- International cooperation
Speaker:
- Ms. Catherine Pattillo, Assistant Director, Fiscal Policy and Surveillance Division, IMF Fiscal Affairs Department
Panelists:
Moderator: Hon. Louis-Paul Motazé, Minister of Finance, Cameroon
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PANEL 2: EXPENDITURE POLICY AND PFM RESPONSE IN AFRICA TO COVID-19
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10:00 - 11:00
(GMT 14.00-15.00)
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Good practices for budgeting, spending processes and treasury operations during the pandemic
- Overhauling fiscal frameworks
- Managing cash, debt, public investment and budget execution controls
- Maintaining overall transparency and accountability
- Managing fiscal risks
- Supporting firms and employment linkages
- Supporting households
- Premium on capacity to reach people
Speaker:
- Ms. Carolina Renteria, Division Chief, Public Financial Management Division 1, IMF Fiscal Affairs Department
- Mr. Baoping Chang, Senior Economist, Expenditure Policy Division, IMF Fiscal Affairs Department
Panelists:
Moderator: Dr. Yeo Dossina, Head of Economic Policy and Research Division, AUC
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PANEL 3: REVENUE POLICY AND ADMINISTRATION RESPONSE IN SSA TO COVID-19
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11:00 - 12:00
(GMT 15.00-16.00)
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Recommended approaches to revenue administration during the pandemic
- Tax policies/measures to support the economy while protecting revenue
- Guidelines for revenue administrations to respond to the crisis
Speaker:
- Ms. Katherine Baer, Assistant Director, Revenue Administration Division 2, IMF Fiscal Affairs Department
Panelists:
Moderator: Prof. Victor Harison, Commissioner for Economic Affairs, AUC
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CLOSING SESSION
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12:00-12:10
(GMT 16.00-16:10)
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Closing address
Speakers:
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DAY 4 - MONETARY, EXCHANGE RATE AND FINANCIAL SECTOR POLICY RESPONSE TO COVID-19
MAY 27
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(Time is in Eastern Daylight Time = GMT- 4 hours)
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Print English Version
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Print French Version
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08:45
(GMT: 12.45PM)
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VIRTUAL ENVIRONMENT OPENS
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PANEL 1: MONETARY POLICY, LIQUIDITY MANAGEMENT AND CENTRAL BANK POLICIES
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08:50 – 10:20
(GMT 12.50-14.20)
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Monetary frameworks, monetary policy, liquidity management and central bank policies
- Adapting Monetary Policy Frameworks
- Easing credit, providing funding and market liquidity, unconventional and emergency tools
- Enhancing monetary policy transmission mechanisms (collateralized LT funding)
Speaker:
- Ms. Filiz Unsal, Research Department
- Mr. Darryl King, Deputy Division Chief, Central Bank Operations and Financial Stability Analysis Division, IMF Monetary and Capital Markets Department
Panelists:
Moderator: Prof. Thomas Kigabo, Chief Economist, Central Bank of Rwanda
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PANEL 2: EXCHANGE RATE POLICIES--MANAGING VOLATILITY
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10:30 –12:00
(GMT 14.30-16.00)
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Exchange rate policies: managing volatility
- Foreign exchange intervention
- Reserve management
Speakers:
Panelists:
Moderator: Mr. Abdoul Aziz Wane, Director, Africa Training Institute, IMF
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CLOSING SESSION
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12:00-12:15
(GMT 16:00-16.15)
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Closing address
Speakers:
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DAY 5 - MONETARY COORDINATION AND FINANCIAL SECTOR POLICY RESPONSE TO COVID-19
MAY 29
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(Time is in Eastern Daylight Time = GMT- 4 hours)
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Print English Version
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Print French Version
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08:45
(GMT: 12.45PM)
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VIRTUAL ENVIRONMENT OPENS
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PANEL 1: MACRO AND MICRO POLICIES AND RESPONSES -- MITIGATING THE SHOCK IMPACT IN AFRICA
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09:00 - 10:30
(GMT 13.00-14.30)
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Macroprudential policies: reducing the shock impact and ensuring stability
- Basel tools (capital and liquidity buffers, reserves)
- Capital flow measures (CFM)
- Supervisory measures, dealing with NPLs
Speakers:
- Mr. Erlend Nier, Deputy Division Chief, Macroprudential Policy Division IMF Monetary and Capital Markets Department
Panelists:
Moderator: H. E. Mr. Tarek Amer, Governor of the Central Bank of Egypt
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CLOSING SESSION
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10:30-10:45
(GMT 14.30-14:45)
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Closing address
Speakers:
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DAY 6 - DEBT AND ECONOMIC RECOVERY PROSPECTS AND CONFERENCE WRAP-UP
JUNE 2, 2020
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(Time is in Eastern Daylight Time = GMT- 4 hours)
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Print English Version
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Print French Version
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08:45
(GMT: 12.45PM)
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VIRTUAL ENVIRONMENT OPENS
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PANEL 1: THE IMPACT OF COVID-19 ON DEBT IN AFRICA
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08:50– 10:20
(GMT12.50-14.20)
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Debt sustainability pre- and post-Covid-19
- Debt dynamics in Africa and the determinants of the change in debt profile
- IMF Model-based approach to debt sustainability
- Debt management during the crisis
- International cooperation for debt reduction and implications for market access
Speakers:
Panelists:
- Mr. Gregory Smith, M&G Investments,
- Mr. Peter Breuer, Division Chief, Monetary and Capital Markets Department, IMF
- Mr. Joseph Atta-Mensah, Principal Adviser, Economic Commission for Africa
- Mr. Albert Zeufack, Chief Economist, Africa Region, World Bank
Moderator: Mr. Roger Nord, co-chair of the IMF-WB Debt Management Facility (DMF)
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PANEL 2: THE SHAPE OF ECONOMIC RECOVERY IN AFRICA
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10:30 –12:00
(GMT14.30-16.00)
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Policies for recovery and building economic resilience: restoring medium-term growth
- Shapes and forms of Africa's recovery from the Covid-19 pandemic
- Reforms to support the recovery: public health, labor market policies, etc.
- Strengthening governance and fighting corruption to support the recovery
Speakers:
Panelists:
Moderator: Prof. Victor Harison, Commissioner for Economic Affairs, AUC
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PANEL 3: CLOSING SESSION
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12:00 – 12:30
(GMT 16.00-16.30)
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Closing address
- Key messages from the conference and Africa’s post-Covid-19 priorities
Speakers:
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