On November 17, the Japan International Cooperation Agency (JICA) signed a Letter of Understandings (LoU) with the International Monetary Fund’s (IMF) Capacity Development Department (ICD) to implement a collaborative project to strengthen debt management capacity for Africa. This will be the first collaborative project between JICA and the Bureau. Under this project, training focusing on public financial management and debt sustainability analysis will be conducted at the Africa Training Institute (ATI) (*1) under the jurisdiction of the IMF’s Capacity Development Department (ICD) in order to improve the debt management capacity of African countries. The objective is to enable participants from each country to acquire the knowledge necessary for debt management and to apply it to practical work such as debt strategy development. The signing ceremony
The IMF’s Capacity Development Department (ICD) provides training to finance ministries, central bankers, and other officials from around the world to strengthen their practical skills in debt restructuring and the evaluation and analysis of fiscal stability and debt sustainability. The ICD is expected to contribute to the improvement of debt soundness in African countries through this collaborative training program.
The issue of debt in Africa was addressed at the 8th Tokyo International Conference on African Development (TICAD 8), and the Japanese government has pledged to “develop human resources in a total of 30 countries to realize fair and transparent development finance” and “implement technical cooperation to build the capacity of debtor countries,” and this training program will fulfill these commitments.
With the signing of the Memorandum of Understanding with the IDC, JICA will work together with various international organizations to improve Africa’s debt soundness and stabilize its public finances.
(*1) ICD has established training centers in each region to provide training based on the characteristics of each region, and ATI was established in 2013 as a training implementation center for the Sub-Saharan Africa region.
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