ECOWAS workshop on economic monitoring and forecasting kickstarts in Accra

Maxwell Awumah, GNA

Accra, Nov 19, GNA –
An Economic Community of West African States (ECOWAS) workshop on economic
monitoring, short-term economic forecasting and modeling for member countries
is underway in Accra.

The four-day
workshop is being organised by the Economic Commission for Africa Sub-Regional
Office for West Africa (ECA SRO-WA) in conjunction with the Economic and
Statistical Observatory for Sub-Saharan Africa (AFRISTAT). 

According to a
release signed by Mr Amador Diouf of ECA and Mr Edi Serge Jean of AFRISTAT,
respectively, the short-term economic forecast workshop is a biannual event
organised by the West African Monetary Union (WAEMU) countries including Guinea
and Mauritania.

The forum is to
better understand recent economic developments and forecasts at the ECOWAS
(Ghana, Gambia, Liberia, Nigeria, Sierra Leone and Cabo Verde) and SRO-WA

It has a main
objective to share experiences on the recent economic developments and
short-term macroeconomic forecasting methods used in English-speaking member

It also seeks to
contribute to the efforts made to have a short and medium term overview of the
macroeconomic indicators of the region.

Expected outcomes
include strengthening collaboration with AFRISTAT, ECOWAS, West African
Economic Monetary Union (UEMOA), West African Monetary Institute (WAMI), West
African Monetary Agency (WAMA) and African Regional Technical Assistance Centre
in West Africa (AFRITAC Ouest) in terms of support to countries in the area of
statistical information and development.

It is to understand
the analytical tools being used by member states and have an up-to-date data on
macroeconomic forecasts in relation to growth, inflation, fiscal balances and
external finances.

It is expected to be
attended by statisticians involved in short-term economic indicator
developments and economists in charge of short-term forecasting.

The workshop would
be facilitated by ECA SRO-WA, ECOWAS Commission, WAMI, WAMA and AFRITAC