Under the umbrella of the Joint Partnership for Africa (JPA), a partnership of the AfDB and the IMF, the African Development Institute (ADI) on Monday, April 5, 2010, in Tunis launched a seminar on financial safeguards at central banks.
The event, which runs from April 5-9, 2010, has brought together some 30 participants from 27 African countries.
The program will enable senior central banks officials from across the continent familiarize themselves with the knowledge and tools required to assess and monitor financial safeguards at their institutions.
It provides participants ample opportunity to share experiences on financial safeguards in their respective banks as well as apply the knowledge the seminar will provide through interactive case studies with tools from the fund's risk-based monitoring methodology.
Focusing on external audit mechanisms, operational independence, financial reports, internal audits and control systems in central banks, the discussions will also provide a picture of important questions to be asked while assessing a central bank's safeguards.
Participants will share cross-country experiences in strengthening financial safeguards, provide a central bankers’ network to address common standard issues and to provide a forum to discuss safeguards with the fund (IMF) staff.