The EGM is aimed at providing opportunity for selected African countries to showcase their economic modeling and forecasting experiences through the different modeling tools implemented in their countries. This will involve the presentation and review of the model development and implementation processes in the different countries, with the aim of looking at the opportunities and challenges being experienced, as well as lessons learnt. This will also involve both the design and implementation approaches used, as well as the theoretical and technical aspects of model development and implementation.
The opportunities and challenges identified, as well as the lessons learnt from the EGM will help in the development and implementation of effective modeling approaches for both ECA and other African countries and institutions.
These experiences will mainly be drawn from the work ECA has carried out on modeling and forecasting, the UN_DESA’s World Economic Forecasting Model (WEFM), as well as model development and implementation experiences from other selected countries, such as South Africa and Ghana and institutions such as the Kenyan Institute for Public Policy Research and Analysis (KIPPRA) and the Centre for Econometric and Allied Research (CEAR), University of Ibadan, Nigeria. This, we believe, would provide the required knowledge and expertise to aid technocrats and policy makers in their policy planning processes in their countries.