The West African Institute for Financial and Economic Management on Monday commenced five-day regional course on domestic resource mobilization and economic management.
Experts from at least five English West African countries including The Gambia are participating in the forum. It’s being held at Paradise Suites Hotel in Kololi.
Speaking at the opening ceremony on Monday, the director General of WAIFEM, Prof. Akpan H. Ekpo said the programme is aim at enhancing domestic resource mobilization for financing projects and programs for sustainable economic development.
“Participants are expected to be equipped with the required skills and knowledge which will enable them to formulate policy reforms aimed at enhancing domestic resource mobilization for financing projects and programs for sustainable economic development,” he said.
He added that the courses were designed to cover key topics like, overview domestic resource mobilization, economic management, concepts, theory and application.
He also urged the participants to make best use of the knowledge they would gain from the program.
Representing the Central Bank Governor, Essa AK Drammeh, who is the second deputy Governor of the Central Bank of The Gambia, described domestic resource as process through which countries raises and spend its own funds.
“To deliver the essential services needed to end extreme poverty, developing country governments must spend their resources in a transparent and accountable manner,” he added.
Mr. Drammeh further described domestic resource mobilization as important to African countries and the sub-region.
But he also outlined low saving, capital flight, tax incentives as challenges to domestic resource mobilization.
However, West African Institute for Financial and Economic Management was established in 1996 by the Central Banks of the above said Anglophone West African states with the mandate to strengthen capacity for improved macroeconomic and financial management in the member states.
And since the inception of the Institute according to its website, has successfully executed six hundred and eighty-two courses, workshops, which benefited eighteen thousand, three hundred and fifty-one participants from the sub-region and beyond.
