Boussaid: Training & development in public sector crucial

In an exclusive interview with CNBC Africa, Mohamed Boussaid, the PFMA Faculty Member at the African Development Institute and former Minister of Finance in Morocco, emphasized the critical importance of training and development for the public sector. The African Development Institute, established by the African Development Bank, aims to enhance capacity development among African countries and member states. Boussaid highlighted the significance of training public servants on Public Finance Management (PFM) due to its crucial role in macroeconomic management, especially during challenging times with issues like sustainable management, debt sustainability, and fiscal deficit reduction. The objective of this training is to provide participants with comprehensive knowledge of the PFM cycle, covering areas such as debt sustainability management, revenue management, macro fiscal modeling, and macro fiscal management. Another key focus is combating corruption and fighting illicit financial flows, which pose significant challenges for the continent, amounting to nearly $80 billion. Boussaid stressed the importance of capacity development through technical assistance and executive training to empower public servants to effectively implement reforms and policies. He highlighted the role of civil servants in financial institutions like the Ministry of Finance and Central Banks, emphasizing that their capacity development is crucial for successful policy implementation. Boussaid also discussed the unique challenges faced by different regions in Africa, particularly countries without natural resources struggling with tight financial markets and growing interest rates. He emphasized the need for effective debt management and proactive preparation for future crises. The interview concluded with a call for tailored and well-thought-out growth models for African countries, considering the diverse challenges ranging from climate change to inflation and domestic resource utilization. Boussaid underlined the African Development Bank's vital role in supporting countries to achieve their development objectives and ensure prosperity for all Africans.