AUSTRALIAN MINISTER OF FOREIGN AFFAIRS AND TRADE OPENS COURSE ON INCLUSIVE GROWTH AT THE IMF’S AFRICA TRAINING INSTITUTE (ATI)

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Australia s Minister of Foreign Affairs and Trade, The Hon. Julie Bishop, participated in the opening session of the course on Inclusive Growth organized by the IMF s Africa Training Institute (ATI) on September 15, 2014. In her opening remarks, Ms. Bishop indicated that the Australian government was pleased to support the IMF s capacity building efforts in sub-Saharan Africa through the ATI and Africa Regional Technical Assistance Centers (AFRITACs). She welcomed the ATI course on Inclusive Growth, emphasizing the importance of growth sustainability and inclusivity for poverty reduction in Africa. In this context, Ms. Bishop stressed that creating more economic opportunities for the poor, women, and youth would promote social and economic inclusion.

Economic growth in sub-Saharan Africa continues to average more than 5 percent. However, policy makers in the region would like to see this growth associated with faster job creation and more pronounced poverty reduction. The ATI course on Inclusive Growth recognizes the importance of these issues on the policy agenda in sub-Saharan Africa. During the current course, 29 participants from 15 countries will receive training on micro and macro policies to promote economic growth, employment, and a more equitable income distribution.

The ATI s key objective is to contribute to improved macroeconomic and financial policies through high-quality training in sub-Saharan Africa, which will support economic growth and poverty reduction.

It was opened in June 2013 in Mauritius, thanks to the financial contributions of the Mauritian government and the Australian and Chinese authorities, and was officially inaugurated in its new training facilities in June 2014.

Australia has provided AUD500000 in seed capital to establish the ATI and support training that aligns with African partners economic priorities. It also contributed AUD8 million in core funding towards the establishment of the IMF s Regional technical Assistance Centres in Africa to provide technical advice in financial management.

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