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Macroeconomic Advisory Capacity (MAC)

Activities

Technical scoping mission to Ghana on 20-24 March 2011, at the invitation of UNDP and the Ministry of Finance and Economic Planning, the Government of Ghana, to address fiscal space and related macroeconomic issues.

In consultation with the Ministry of Finance and Economic Planning (MoFEP), UNDP-Ghana tentatively identified the following four focus areas for consideration of the scoping mission:

• Budget structure and overall efficiency: Examine ways of improving the efficiency of the budget by re-visiting the current structure, classifications and relevance to the changing national contexts – middle income status, new oil revenue and decreased ODA flows. Discuss options for re-allocation to higher priority uses and focusing on "value for money" while sustaining economic growth and progress toward MDGs. Discuss the alignment of budget to Ghana's Medium-Terms Development Framework (GSGDA).
• Tax Reform: Explore possibilities of improving revenue through reform of the tax system especially by transforming some of the informal sector (non-taxable entities) to formal entities to support pro-poor interventions and the attainment of MDGs.
• Public debt and fiscal space: Review challenges of debt management system and the impacts on fiscal space for human development. Provide broad suggestions on how to develop appropriate instruments and capacity to manage public and privately secured external and domestic debt.
• Aid Strategy: Explore how Ghana can accelerate economic growth, increase its tax effort and raise the efficiency of all public sector activities and develop instrument with which to pro-actively commence negotiations with Development Partners on structured aid exit strategy.

High-level Special Event on "Macroeconomic Policies for LDCs: From Economic Recovery to Sustainable Development" on the Sidelines of the LDC IV Conference in Istanbul, held on 10 May 2011

The High Level Special Event—featuring Prime Minister Meles Zenawi of Ethiopia, Finance Minister A.M.A. Muhith of Bangladesh, the former UNDP Administrator, Kemal Dervis and Special Advisor of IMF Zhu Min—sought to:

• Establish the imperative of alternative perspectives in macroeconomic policies for the Least Development Countries (LDCs);
• Strengthen the understanding on the set of alternative macroeconomic policies that can help the LDCs achieve higher economic growth, reduce unemployment and build resilience against adverse economic shocks;
• Re-affirm the critical role that the UN system can play in providing alternative and credible macroeconomic policy advice to the LDC member states;
• Inform the LDC leaders about the on-going and expanding efforts of the UN system to assist LDCs in the design and implementation of alternative and development-oriented macroeconomic policies.

For a summary of the discussions of the special event, please click here .

Technical mission to Bhutan in July 2011, at the invitation of the Royal Government of Bhutan, to assist the development of macroeconomic framework for the 11th Five Year Plan.

Technical mission to South Africa in August 2011, at the invitation of the South African Ministry of Economic Development and UNDP-South Africa, to review the New Growth Path and South Africa's development needs and challenges.

Training workshop for mid-level officials of central banks and finance ministries on "Natural Resources Revenues and Exchange Rate Management" in Sub Saharan Africa in November 2011.

Training workshop for mid-level officials of central banks and finance ministries on "Looking Beyond Inflation Targets: Employment Considerations and Capital Account Management" in Asia in December 2011.

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