IMF set to open new training center for Africa

WASHINGTON - The International Monetary Fund (IMF) managing director Christine Lagarde said Sunday that the Fund will open a new regional training center in Africa.

After meeting with chairman of the African Caucus at the IMF, Lagarde said in a statement that the IMF will open a sixth regional technical assistance center that will serve the continent in Accra later this year, to "meet the needs of non-francophone west African countries".

She also noted a training institute in Mauritius, which was announced in December 2012, will begin operations in the next few months. It joins a network of centers around the world in helping develop countries' policymaking capacity by transferring economic skills and best practices.

Through its technical assistance and training, the IMF has contributed to helping country officials gain the skills to design and implement sound policies.

The statement also said that most countries in Sub-Sahara Africa continued to record robust growth, but activity in middle income countries in the continent remained sluggish, in part reflecting closer trade linkages with Europe and, in some North African countries, complex political transitions.

"Looking ahead, growth is projected to remain robust in Sub-Sahara Africa, while recovering gradually in much of north Africa",  according to the statement.