Capacity building in economic modeling and forecasting for EAC central banks

Abstract

This report presents findings on need assessment in Modelling and Forecasting in East African Central Banks. This assessment has been commissioned by the Monetary Affairs Committee (MAC) of East African Community and the United Nations Economic Commission for Africa, Sub Regional office for Eastern Africa (henceforth UNECA/SRO–EA). Modelling and forecasting training program is designed to provide adequate skills to the staff of EAC Central Banks in Economic Analysis, Modelling and Forecasting. This study recommends extending the training program to staff from institutions like ministries of Finance and economic planning, Institutes of Statistics, as well as other Research institutions. Given the complexity of this task and a required follow up process, the training should be organized on a gradual and periodic basis.