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IMF, FRC discuss technical assistance needs for 2023-2024 work plan

By Geoff Iyatse
26 July 2022   |   4:04 am
A delegation of the International Monetary Fund (IMF) mission to Nigeria led by the Director, Second African Regional Technical Assistance Centre in West Africa (AFRITAC West 2), Eva Jenkner, las week, visited the Fiscal Responsibility Commission (FRC) during which the discussed areas of technical support for the Fiscal Year 2023/2024 Work Plan.

The International Monetary Fund logo. REUTERS/Yuri Gripas

A delegation of the International Monetary Fund (IMF) mission to Nigeria led by the Director, Second African Regional Technical Assistance Centre in West Africa (AFRITAC West 2), Eva Jenkner, las week, visited the Fiscal Responsibility Commission (FRC) during which the discussed areas of technical support for the Fiscal Year 2023/2024 Work Plan.

A statement by the commission said a roundtable discussion was held between the visiting IMF officials and its management on the technical assistance needs required for the next two years.

Briefing the visitors, the Chairman of the Commission, Victor Muruako, recalled the Commission received valuable support from the IMF West 2 mission in terms of staff capacity building held virtually in April.

The chairman, who was represented by the Director of Administration, Muhammed Zailani, said the training highlighted, among other important issues, the role of the Commission as an independent fiscal institution, a watchdog or an external evaluator in the country’s fiscal space.

On their part, the IMF team reiterated the AFRITAC West 2’s readiness to support the Commission in undertaking the important work. They said transparency and accountability are the critical considerations in the Fund’s interventions.

Other issues touched on in the course of the discussion include the Commission’s working relationship with the National Assembly, the Federal Ministry of Finance and other relevant government agencies.

The AFRITAC West 2 – a collaborative effort between the IMF, recipient countries and several bilateral and multilateral partners – was set up to provide capacity-building support in six West African countries. The countries are Cape Verde, Ghana, Liberia, Nigeria, Sierra Leone and The Gambia.