Regional Workshops and Webinars
Climate Change and Gender Equality
Fiscal Reforms to Support Addressing Climate Change Challenges in Algeria (14 May)
Fiscal policy instruments are powerful tools that governments can deploy to respond to climate change challenges. This webinar was based on the IMF Selected Issues Paper discussing the Algerian government’s climate strategy and presented fiscal policy options to achieve Algeria’s greenhouse gas emission reduction goals and build resilience against climate risks.
The webinar was attended by 84 participants. The presentation was followed by a lively Q&A session. The METAC team gives special thanks to the presenter, Mr. Mahmoud Harb from the IMF for taking the extra time to respond to all questions and engaging in the vivid discussion with the audience. Many questions focused on the proposed reform of the universal energy subsidy, which was one of the four presented reform pillars. Participants were especially interested in the reforms’ impact on household’s purchasing power, inflation, and investments in renewable energy. The debate covered topics such as (1) the need to cushion the social impact of an energy subsidy removal by an accompanying targeted cash transfer mechanism that supports vulnerable households; (2) the necessity of adequate monetary policy to respond to the supply shock; and (3) the impact of universal subsidies on the commercial viability of investments in renewables.
Budget Institutions for Effective Climate Change Action and Gender Equality in the Middle East and North Africa (9-12 June | Cairo, Egypt)
How well prepared are the budget institutions in MENA countries for implementing gender and climate reforms? And how can the budget process be adjusted to effectively incorporate gender and climate policy priorities? These were some of the questions that a regional workshop on Budget Institutions for Effective Climate Change Action and Gender Equality tried to answer. The event was jointly organized by METAC and the Fiscal Affairs Department (FAD) with the support of the Swiss State Secretariat for Economic Affairs (SECO). The workshop included country presentations and group exercises which evoked lively discussions among the participants. Peer exchanges played a crucial role in enhancing understanding and sharing experiences and knowledge among participants.
Empowering Women for Economic Growth (12 September)
Gender equality is a powerful engine for economic growth and resilience. This webinar introduced METAC’s event series on Gender Economics and provided a regional overview of key gender gaps and trends among METAC’s member countries. Drawing on recent IMF research, it reviewed evidence highlighting the impact of gender inequality on the macroeconomy and the potential economic gains from closing gender gaps. The introductory webinar was attended by 91 participants who expressed interest in a diverse range of gender issues during the Q&A session. Participants were particularly interested in fiscal issues, such as gender-responsive budgeting and the impact of fiscal policies on women.
Climate Risk, Green Finance and Policy Options for the Financial Sector in the Middle East and Central Asia (24 September)
The financial sectors in the Middle East and Central Asia should play an important role in supporting the region’s climate policies. This webinar evaluated the impact of climate change on banking institutions in the region. It discussed the size and nature of regional financing needs for adaptation and mitigation as well as opportunities and challenges for the development of green finance. The webinar was attended by 140 participants who actively engaged with the presenter, Jerome Vacher from the IMF’s Middle East and Central Asia Department, in the Q&A session. Mr. Vacher explained how the IMF can assist countries with improving the market environment for green finance and highlighted the importance of data availability and quality for considering climate risks in bank’s portfolios.
The Growth Potential of Closing Labor Market Gaps and Increasing Women’s Participation in Iraq (1 October)
The MENA region has the potential to convert demographic challenges into opportunities for economic expansion by leveraging its labor force. With one of the lowest rates of female labor force participation and notable skills gaps, implementing labor and education reforms to boost women's role in the economy can significantly advance private sector development and economic output. This webinar was based on the case of Iraq, highlighting imbalances in Iraq's labor market, drivers of informality, and impediments to women's participation and mobility. The presenters quantified the growth benefits of closing gaps vis-à-vis peer countries and outline key policy priorities. The presenters, Gazi Shbaikat and Ghadeer Noufal, answered participants’ questions about the drivers of informalities, legal obstacles for female labor force participation in Iraq, and what the government can do to make jobs in the private sector more attractive for women.
Boosting Female Employment Opportunities in Jordan (16 October)
Despite high levels of education, female labor force participation in Jordan has been historically low and unemployment high. This webinar discussed structural and legal impediments that contribute to gender disparities in Jordan’s labor market participation. It highlighted labor market and regulatory characteristics in Jordan and outlined key reform priorities. The 56 webinar participants had a vivid discussion with the presenter, Rayah Al-Farah from the IMF Middle East and Central Asia Department, during the Q&A session, discussing how a conducive regulatory environment, and the provision of childcare and transportation could incentivize higher female labor market participation in Jordan. The Q&A session also elaborated on how remote jobs, flexible work arrangements, quotas, or the removal of structural and legal impediments could spur female employment.
Central Bank Operations
CEF Course on Monetary Policy Implementation Tools (20-24 October | Kuwait)
METAC and the IMF Monetary and Capital Markets Department (MCM) provided a course at CEF-Kuwait on monetary policy implementation tools. Course participants learned how to use advanced techniques to forecast domestic liquidity and autonomous factors in a central bank and were introduced to central bank balance sheets stress testing. The delivery mode was hybrid, with hands-on workshops during the liquidity forecasting sessions. This allowed participants to utilize models with various degrees of complexity, while the mission team provided technical guidance on operationalizing these models.
Financial Supervision and Regulation
Bank Corporate Governance and Board Effectiveness (27-30 May | Kuwait)
The workshop was organized in collaboration with the IMF Center for Economics and Finance (CEF) in Kuwait to train participants on bank corporate governance and discuss related implementation challenges. The event was attended by 33 participants from 12 countries: Algeria, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Tunisia, Saudi Arabia, Syria, and Yemen. It described the key principles and concepts of good governance, presented the role of board of directors and board committees, and explained the interdependencies of risk management, compliance, and internal audit in fostering a good governance infrastructure. Fit and propriety criteria of board members and key senior management were presented. Such criteria aim to ensure that bank executives possess adequate expertise, knowledge, and independence to conduct their functions effectively. Case studies trained participants on how to assess the effectiveness of corporate governance, identify weaknesses, and propose corrective measures. IMF experts presented sessions on Corporate Governance in Islamic Banks, Related Parties Exposures, and State-Owned Banks.
Macroeconomic Frameworks
CEF Course – Macroeconomic Forecasting and Analysis (23 September – 4 October | Kuwait)
In collaboration with IMF HQ and the CEF, METAC participated virtually in a CEF course on Macroeconomic Forecasting and Analysis, presented by the Institute for Capacity Development jointly with Bank Al-Maghrib. The course helped practitioners and central bankers to conduct econometric analysis and construct reliable forecasts by incorporating machine learning methods which have become popular for forecasting by revealing hidden trends from large data pools. Utilizing machine learning methods can enhance the quality of forecasting at the level of central bank and ministries.
Real Sector Statistics
CEF Course – Measurement of the Non-Observed Economy (16-19 September | Kuwait)
METAC delivered this course in collaboration with the IMF's Middle East Center for Economics and Finance (CEF) to 33 representatives from national statistical offices, central banks, and government ministries, training them on developing and improving the methods for measuring the non-observed economy (NOE) in line with international standards and best practices. The workshop helped participants to have a better understanding of the NOE types, methods, and data sources as well as its crucial role to ensure exhaustiveness of the GDP estimates.
Public Financial Management
Macro-fiscal Planning (9-13 June | Kuwait)
PFM Advisor Yasser Sobhi led a five-day course at CEF in Kuwait, bringing together 33 participants from 13 countries (8 METAC, 4 GCC, and Somalia). Officials from ministries of finance and economy and central banks enhanced their understanding of policymaking and management processes and institutions over short to medium timeframes. During lectures, applied workshops, interactive roundtable discussions, and peer-to-peer learning, the course covered selected issues in economic policymaking, macroeconomic policy formation, and crisis resolution. Participants’ active interactions and comments revealed a high demand for such tailored trainings targeting officials working in the policymaking sphere.
Government Finance Statistics (GFS) and Public Sector Debt Statistics (PSDS)
Strengthening Government Finance Statistics and Public Sector Debt Statistics (19-23 May | Amman, Jordan)
Led by Mr. Imad Khanchaoui (IMF Statistics Department) and METAC Advisor Mr. Amir Hadziomeragic, this workshop covered key concepts of the Government Finance Statistics (GFS) Manual 2014 and the and Public Sector Debt Statistics (PSDS) Guide for Compilers and Users 2011 through presentations and case studies. 25 participants from 10 countries (Algeria, Egypt, Iraq, Jordan, Lebanon, Libya, Morocco, Tunisia, West Bank and Gaza, and Yemen) learned current GFS and PSDS practices, covering data collection, compilation methods, capacities, and dissemination standards in participating countries. It was the first of its kind in years and is expected to strengthen GFS/PSDS practices across the region and pave the way for future technical assistance.
Peer-to-Peer Workshop: The Experience with Macro Forecasting and Policy Analysis in Middle Eastern and North African Central Banks (14-15 October | Jordan)
In collaboration with IMF HQ and under the patronage of the Central Bank of Jordan, METAC organized a peer-to-peer workshop on Forecasting and Policy Analysis System (FPAS) practices in the region. Early FPAS adopters from Jordan, Algeria, Morocco, and Egypt, as well as Lebanon and Saudi Arabia as observers, convened to promote knowledge sharing and best practices related to FPAS frameworks. The workshop aimed to spur regional cooperation and laid the foundation for future technical collaboration and the establishment of a community of practice. The workshop was the first of its kind in the region. Follow-up events are planned in the coming year.
Anti-Money Laundering And Combating The Financing Of Terrorism (AML/CFT) Co-hosted by METAC and financed by the AML/CFT Trust Fund
CEF Course – Best Practices to Enhance the Effectiveness of Combating the Financing of Terrorism Frameworks (22-26 September | Kuwait)
The AML/CFT Regional Advisor contributed to an IMF Legal Department workshop on Best Practices to Enhance the Effectiveness of Combatting the Financing of Terrorism (CFT) frameworks in Kuwait City, Kuwait. The workshop presentations and case studies discussed (1) improving the understanding of terrorist financing risk; (2) the role of the private sector in detecting and disrupting terrorist financing activities; (3) the production and use of terrorist financing financial intelligence to counter terrorism and terrorist financing; (4) investigating, prosecuting, and sanctioning terrorist financiers; (5) terrorism-related targeted financial sanctions; and (6) international cooperation in combating the financing of terrorism. 33 representatives from central banks, financial intelligence units, AML/CFT supervisors, ministries of finance, anti-corruption agencies, and law enforcement authorities attended the workshop.
Outreach Activities
IMF-METAC Steering Committee Meeting 2024 (6 June | Cairo, Egypt)
For almost 20 years, the Middle East Regional Technical Assistance Center has been assisting its member countries in advancing public policies and building stronger macroeconomic institutions for long-term development and inclusive growth. METAC’s Steering Committee met on June 6, 2024, in Cairo, Egypt, to review the Center’s capacity development (CD) activities for the past fiscal year and discuss the workplan for the period ahead. The event brought together representatives from the IMF, member countries, and development partners. Switzerland, Germany, the Netherlands, France, and the European Union provide financial and strategic support to the Center.
METAC had a very successful year. It delivered on its commitment to substantially expand CD services to its member countries, despite a challenging regional environment marked by fragility and conflict. Total CD delivery increased by 30 percent compared to the previous year, while CD to fragile member states rose by 40 percent. METAC added three new workstreams (tax policy, government finance statistics, and macroeconomic frameworks) to its existing portfolio. It also established two new cross-cutting work programs on climate and gender and bolstered its team of experts with three regional advisors dedicated to assisting fragile and conflict-affected states with their specific institutional challenges and capacity building needs. In the coming year, METAC will further increase its CD delivery to member countries by introducing two new workstreams on public debt management and governance & anti-corruption.
Middle East and North Africa Financial Action Task Force (MENAFATF) meetings (19-23 May | Manama, Bahrain)
The Middle East and North Africa Financial Action Task Force (MENAFATF) Secretariat granted the IMF an award for its 2023 contributions in support of its members. AML/CFT regional advisor Peter El Sharoni participated in the discussions of the Mutual Evaluation Report of Iraq and provided an overview of the IMF Legal Department’s AML/ CFT capacity development work in the MENA region. The meetings were an opportunity to inform member countries of the planned CD activities in the region, including the upcoming workshop at the IMF Center for Economics and Finance (CEF) on “Countering the Financing of Terrorism: Good Practices to Enhance Effectiveness” in September 2024. The Plenary was also a chance to coordinate with the MENAFATF and other Technical Assistance providers, such as the World Bank and the UNODC, on CD activities in the MENA region.
Sustaining Partnerships: GIZ Lebanon (12 July | Beirut, Lebanon)
METAC Director Holger Floerkemeier and METAC Economist Anastasia Janzer attended the German International Cooperation (GIZ) reception for GIZ’s new Country Director in Lebanon, Mr. Matthias Wagner. We wish Mr. Wagner and the GIZ team all the best for their successful work in Lebanon!
