Empowering West Africa through Capacity Building in Financial and Economic Management
Fiscal Policy, Debt & Regional Integration
FDMRIP 01-R: Regional Course on Public Debt Expenditure Management and Strengthening Domestic Resource Mobilization for Economic Development.
Date: April 13 – 17, 2026
Duration: 5 Days
Venue: Accra, Ghana
Background
Effective public expenditure management (PEM) and robust domestic revenue mobilization are cornerstones of fiscal sustainability. WAIFEM member countries face persistent gaps in budgetary execution, weak public financial management systems, and low tax-to-GDP ratios. Strengthening these areas is essential to reduce aid dependence and fund the SDGs through domestic resources.
Objectives of the Course
To strengthen participants’ capacity in public expenditure frameworks, budgetary execution, and domestic resource mobilization strategies for sustainable development.
Main Themes
- Medium-term expenditure frameworks (MTEF) and program budgeting
- Budget execution, controls, and reporting
- Domestic revenue mobilization strategies: tax policy and administration
- Non-tax revenues ad natural resource revenue management
- Case studies from West African countries
Who May Attend
Officials from Ministries of Finance, Budget and Planning, Revenue Authorities, and Central Banks involved in Fiscal planning, budget execution, and revenue policy.
Delivery Modalities
Expert-led lectures, group syndicate sessions, case studies, and hands-on exercises with real country data, facilitated by experienced practitioners and WAIFEM faculty.
FDMRIP 02-R: Joint WB/IMF/WAIFEM Regional DSF-LIC Training for West Africa
Date: May 4 – 8 2026
Duration: 5 Days
Venue: Abuja, Nigeria
Background
In most WAIFEM countries and developing economies, public debt levels have been rising in the absence of real growth and fiscal consolidation. Many countries’ debt profiles are shifting to shorter maturities and greater reliance on commercial funding, creating liquidity risks. Recent Debt Sustainability Analyses (DSAs) reveal increasing numbers of African countries at risk of debt distress, compounded by COVID-19 and global geopolitical uncertainties. The IMF-World Bank Debt Sustainability Framework for Low-Income Countries (LIC-DSF) provides guidance for conducting standardized DSA.
Objectives of the Course
The aim of the course is to strengthen WAIFEM constituent countries’ DSA Team’s capability to apply the new DSA framework (DSF-LIC) methodology to develop their countries’ debt strategy and conduct forward-looking assessments of debt distress risks.
Main Themes
- Framework’s key inputs, including macroeconomic variables and public sector financing
- Baseline scenario construction and shock stress testing
- Country classification and applicability of the DSF-LIC
- Interpretation of DSA results and policy implications
- Country case studies and group exercises using DSF-LIC templates
Who May Attend
Government officials from Ministries of Finance and Planning, Central Banks, and Debt Management Offices responsible for debt sustainability analysis and strategy formulation.
Delivery Methodology
Lecture presentations, hands-on computer-based exercises using DSF-LIC templates, group discussions, and country case studies facilitated by experts from the World Bank, IMF, and WAIFEM faculty.
FDMRIP 03-R: WAIFEM Certificate Course in French Language (Face-to-Face, e-Learning).
Date: May 18 – 22, 2026
Duration: 5 days
Venue: Lagos, Nigeria
Background
In its effort to bridge the language gap and promote regional integration, WAIFEM initiated a certificate course in French Language. The course assists public and private sector officials in Anglophone West Africa to overcome language barriers in commerce, banking, industry, tourism, and cross-border activities.
Objectives of the Course
To equip participants with practical French Language skills for effective communication in professional and cross-border settings, supporting regional economic integration in West Africa.
Main Themes
- French phonology and pronunciation fundamentals
- Every day and professional French vocabulary and grammar
- Written communication: emails, reports and correspondence
- Oral communication and listening comprehension
- French for economic and financial contexts
- Cultural awareness and regional integration perspectives
Who May Attend
Public and private sector professionals in Anglophone West Africa who wish to acquire or improve French language skills for professional and cross-border use.
Delivery Modalities
Two weeks face to face instruction followed by four weeks guided e-Learning with continuous assessments, oral and written assignments, and a final online test.
FDMRIP 04-R: Mission on Debt Monitoring and Reporting and Capacity in Risk Management and DSA Data Preparation for (Gambia and Liberia).
Date: TBA, 2026
Duration: 5 days
Venue: Banjul and Monrovia.
Background
Proper debt recording and monitoring are essential first steps to developing good quality data that form the basis for quantitative analysis, support debt operations, and facilitate effective policy decisions. This targeted country mission addresses specific technical assistance needs of The Gambia and Liberia in debt monitoring, reporting, and risk management.
Objectives of the Course
T strengthen the debt data compilation, monitoring, and reporting capacities of Gambia and Liberia, and enhance their ability to prepare data for DSA and risk management analysis.
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Main Themes
- Debt data compilation and validation processes
- Risk management frameworks for sovereign debt portfolios
- Preparation of data for debt sustainability analysis
- Debt reporting templates and international standards
- Institutional arrangements for debt monitoring
Who May Attend
Officials from the Ministry of Finance, Central Banks, and Debt Management Offices of The Gambia and Liberia responsible for debt recording, reporting, and risk management.
Delivery Modalities
In-person country mission executed by experience consultants from the World Bank and WAIFEM faculty, with hands-on technical assistance and training sessions.
FDMRIP 05-R: Regional Course on Fiscal Institutions, Fiscal Discipline, and strengthening Fiscal Risks.
Date: July 13 – 17, 2026
Duration: 5 Days
Venue: Lagos, Nigeria.
Background
Post-COVID macroeconomic trends have rekindled interest in fiscal policy’s stabilization function. Sharp increases in public deficits and debt have focused attention on fiscal consolidation. Well-designed fiscal rules and institutions can reduce time-inconsistency in budgetary policies, strengthen credibility, and facilitate countercyclical fiscal management.
Objectives of the Course
To provide comprehensive training on fiscal policy frameworks for developing economies, enhance participants’ ability to identify and manage fiscal risks, and explore the role of fiscal governance in achieving debt sustainability.
Main Themes
- Fiscal frameworks and macroeconomic management
- Rationale and design of fiscal rules
- Monitoring of fiscal policy by independent institutions
- Implementing fiscal frameworks and political economy context
- Fiscal rules for sub-national governments
- Analysis of fiscal risks and sustainability
- Fiscal frameworks and sustainability in West African countries
Who May Attend
Government officials, middle to senior policy officials in Ministries of Finance, Budget and Planning, Central Banks, and those responsible for revenue and debt management.
Delivery Modalities
Lectures, case studies, syndicate sessions, and hands-on exercises facilitated by experienced consultants and WAIFEM faculty.
FDMRIP 06-R: Regional Course on Public Sector Debt Statistics, Government Securities Market and Transparency.
Date: August 3 – 7, 2026
Duration: 5 Days
Venue: Banjul, The Gambia.
Background
Accurate and transparent public sector debt statistics are fundamental to sound macroeconomic policymaking, market confidence, and creditor relations. Many WAIFEM member countries face challenges in debt data quality, incomplete coverage of contingent liabilities, and reporting gaps. This course addresses these challenges in line with international standards.
Objectives of the Course
To enhance participants’ capacity in compiling, recording, and disseminating public sector debt statistics according to international standards, with emphasis on transparency and securities market data.
Main Themes
- International standards for public sector debt statistics (PSDS Guide)
- Coverage of debt instruments: loans, securities, guarantees, and contingent liabilities
- Recording and classification of debt data
- Government securities market data and reporting
- Debt transparency frameworks and international reporting obligations
- Data Quality Assessment Frameworks (DQAF)
Who May Attend
Officials from Central Banks, Ministries of Finance, Debt Management Offices, and Statistical Agencies responsible for compiling and reporting debt data.
Delivery Modalities
Lectures, computer-based exercises, peer-learning sessions, and case studies using real country data, facilitated by WAIFEM faculty and international experts.
FDMRIP 07-R: WAIFEM/COMSEC Regional Training on Fiscal Debt Data Compilation, Recording and Monitoring with Meridian.
Date: September 14 – 18, 2026
Duration: 5 Days
Venue: Monrovia, Liberia.
Background
The Commonwealth Secretariat’s Debt Management Unit developed Meridian, a new public debt management system incorporating advanced functionalities to better address emerging debt management requirements. All countries are expected to migrate from CS-DRMS to Meridian. WAIFEM will collaborate with COMSEC to assist member countries in a smooth migration and to strengthen debt data compilation.
Objectives of the Course
To build capacity of WAIFEM member countries in using the Meridian debt management system for comprehensive fiscal debt data compilation, recording, monitoring, and reporting, and to support the migration from CS-DRMS to Meridian.
Main Themes
- Overview of the Meridian debt management system and its functionalities
- Debt data compilation and classification in Meridian
- Recording of loans, securities, and contingent liabilities
- Migrating pathway from CS-DRMS to Meridian
- Debt monitoring, reporting, and analytical features
- Fiscal risk assessment framework integration
Who May Attend
Officials from Ministries of Finance, Debt Management Offices, Central Banks, Controller and Accountant General departments, Bureau of Statistics, and Revenue Authorities.
Delivery Modalities
Facilitated by experienced consultants from the Commonwealth Secretariat and WAIFEM faculty, with hands-on training sessions using the Meridian system.
FDRIDP 8-R: Regional Course on Developing Debt Markets (Domestic Debt and International Capital Markets).
Date: TBA, 2026
Duration: 5 Days.
Venue: Virtual
Background
Developing robust domestic debt markets is critical for macroeconomic stability, reducing dependence on volatile external financing, and lowering borrowing costs. West African economies face significant challenges in deepening their domestic bond markets, including limited investor bases, inadequate market infrastructure, and low financial literacy among institutional investors. Access to international capital markets has grown but carries exchange-rate and rollover risks that require careful management.
Objectives of the Course
To equip participants with the knowledge and analytical tools to develop and deepen domestic debt markets and effectively access international capital markets while managing associated risks.
Main Themes
- Fundamentals of government securities markets and yield curve construction
- Primary market issuance: auctions, book-building, and syndications
- Secondary market development and investor relations
- Eurobond issuance: process, legal frameworks, and pricing
- Exchange rate and rollover risk management
- Regional capital market integration experiences
Who May Attend
Middle to senior government officials from Debt Management Offices, Central Banks, and Ministries of Finance involved in domestic debt issuance and investor relations.
Delivery Modalities
Blended online lectures, interactive workshops, case studies from West African and emerging-market comparator countries, and group exercises facilitated by WAIFEM faculty and regional debt market practitioners.
FDMRIP 09-R: WAIFEM Certificate Course in French Language (Immersion – Attachment).
Date: TBA, 2026
Duration: 5 Days
Venue: TBA
Background
This immersion programme is the capstone of the WAIFEM French Language Certificate Course series. It provides participants who have successfully completed the 6-week face-to-face and e-Learning course with an intensive attachment experience in a francophone environment, enabling oral assessment and cultural immersion.
Objectives of the Course
To consolidate and assess participants’ oral French language proficiency through immersive engagement with native speakers and authentic francophone professional environments.
Main Themes
- Interactive sessions with facilitators and native French speakers
- Oral assessments based on authentic documents
- Cultural and economic visits in a francophone setting
- Professional French communication in simulated scenarios
- Oral performance review and certification preparation
Who May Attend
Participants who have successfully completed the WAIFEM 6-weeks Certificate Course in French Language (Face-to-Face e-Learning). A minimum of a diploma or university degree and good knowledge of English are required.
Delivery Modalities
One-week compulsory attachment in a francophone country in West Africa or another francophone country, combining interactive sessions, cultural visits, and oral assessments
FDMRIP 10-R: Regional Course on Loan Negotiations, Debt Restructuring, and Debt Transparency.
Date: October 26 – 30, 2026
Duration: 5 Days
Venue: Blended.
Background
Increasing risk of debt distress in developing countries, coupled with cases of inadequate disclosure that put macroeconomic stability at risk, has highlighted the urgent need for transparent and well-negotiated borrowing. Debt transparency supports sustainable borrowing and lending practices and enables creditors to accurately assess government debt positions and creditworthiness.
Objectives of the Course
To build the capacity of member countries with analytical skills to evaluate financing options, negotiate appropriate terms, and improve understanding of sound debt transparency practices.
Main Themes
- The borrowing cycle and legal/institutional frameworks for government borrowing
- Available financing options and their evaluation
- Structure and interpretation of loan agreements
- Financial evaluation techniques and impact of portfolio indicators
- Negotiation skills, techniques, and practical simulation
- Debt resolution frameworks and initiatives
- Pillars and principles of debt transparency
Who May Attend
Mid-career and senior government officials working in Central Banks, Ministries of Finance and Economic Development, and other public institutions involved in borrowing decisions.
Delivery Modalities
Expert-led sessions by practitioners from academia and the region, combined with practical loan negotiation simulation exercises and case studies.