Visiting Managing Director of the International Monetary Fund (IMF) Christine Lagarde and Mauritian Finance and Economic Development Minister Xavier-Luc Duval have signed a pact for the establishment of the Africa Training Institute (ATI) on the island, PANA reported Friday.
The ATI will provide training for officials involved in the formulation and implementation of macro-economic and financial policies in sub-Saharan Africa.
Duval said the sub-Saharan Africa region would, over time, develop a network of policymakers and economic operators that will enable the region to have a collective and shared vision of development of the African continent.
”The fact that sub-Saharan Africa is moving at a fast pace (means) we have to ensure shared prosperity of the citizens of the region by sustaining growth,” he added.
According to him, to achieve this, African countries need to improve their economic management and foster greater integration by lowering barriers to the free movement of goods, services, people and capital.
He emphasised that the setting up of the Institute would help transform Mauritius as a service and knowledge centre, acting as a hub between Asia and Africa as well as with the rest of the world.
For her part, Lagarde commended Mauritius for the various initiatives taken to sustain its economy despite the effects of the global economic crisis.
The new training institute will add to the network of training centres located in Austria, Kuwait and Singapore and the training programmes being offered in Brazil, China and India.