Macroeconomic Convergence Programme
The SADC macroeconomic convergence programme is based on the assessment of four macroeconomic indicators set for 2008, 2012, 2015 and 2018, with more challenging goals set for the later periods. The targets are set out in the Regional Indicative Strategic Development Plan (RISDP), launched in August 2004 in the Summit held in Arusha, United Republic of Tanzania (Table 1), a high level strategy that set out the blueprint of SADC objectives and activities, and needed policies to achieve the SADC full economic integration.
About the Macroeconomic Subcommittee
The Macroeconomic Subcommittee was formed to coordinate implementation of Annex 2 of the Protocol on Finance and Investment (FIP), where Member States are committed to converge on stability-oriented economic policies in order to achieve and maintain macroeconomic stability within the region. This is in recognition of the need to accelerate growth, investment and employment in the SADC region through increased co-operation and co-ordination in respect of macroeconomic policies. Further, regional economic integration and macroeconomic stability are preconditions to sustainable economic growth and for the creation of a monetary union in the region.
Stability-oriented economic policies, according to Member States include, but are not limited to:
- Restricting inflation to low and stable levels;
- Maintaining a prudent fiscal stance, based on the avoidance of large budget deficits, monetisation of deficts and high or rising ratios of public and publicly guaranteed debt to GDP;
- Avoiding large financial imbalances in the economy of a Member State; and
- Minimizing market distortions.
Macroeconomic convergence in the region, therefore shall be measured by the following indicators:
- Tthe rate of inflation in a Member State;
- The ratio of the budget deficit to GDP in a Member State;
- The ratio of public and publicly guaranteed debt to GDP, taking account of the sustainability of such debt, in a Member State; and
- The balance and structure of the current account in a member State.
About the Macroeconomic Policies and Convergence Unit
The main purpose of the Macroeconomic Policies and Convergence Unit of the SADC Secretariat is to provide policy guidance and advice to Member States in the macroeconomic policy areas; plan, facilitate, coordinate and monitor macroeconomic policies, including monetary and fiscal policies and programmes with a view to promoting economic liberalisation and development, trade and investment and to achieving macroeconomic convergence in the SADC Region. Specific areas of responsibility for the Unit include the following:
- Development and implementation of annual business plans aligned to the implementation of RISDP;
- Facilitation of the implementation of the Protocol on Finance and Investment (FIP), particularly Annex 2 and Annex 3 of the FIP;
- Provision of policy and technical advice to Member States, facilitation and consensus building on country level macroeconomic convergence programmes;
- Facilitation and coordination of monetary, exchange rate and fiscal policies with a view to deepening integration in the SADC Region; and
- Develop and maintain a database of macroeconomic indicators
SADC Macroeconomic Convergence Reports 2006
The first comprehensive review of member states’ performance relating to macroeconomic convergence was done in 2005. Reports of the review were finalized and presented to the Ministers of Finance and Investment on 27th July 2007 for approval. A follow up major review will be conducted after 2008. In the interim, brief reviews will be conducted twice a year.
Please find below the integrated report in its original version as approved by Ministers of Finance. The list also includes country reports. As of the current date, some country reports have been updated. Please click on language version to access the report.
| Report Title | Language | ||
| Update on the Impact of the Global Economic Crisis on the SADC Region September 2009 | English | ||
| Update on the Impact of the Global Economic Crisis on the SADC Region June 2009 | English | ||
| Update on the Impact of the Global Economic Crisis on the SADC Region April 2009 | English | ||
| Update on the Impact of the Global Economic Crisis on the SADC Region March 2009 | English | ||
| Notes by SADC Finance Ministers' Chair on Impact of the Global Economic Crisis on the SADC Region and the Economic Situation in Zimbabwe March 2009 | English | ||
| Final MEC 2008 Review Report | English | ||
| SADC Economic Business and Investment Climate 2008 Revised | English | ||
| Review of Macroeconomic Convergence Performance for 2007 | English (582KB) | ||
| SADC Economic and Business Environment Outlook for 2007 | English (343KB) | ||
| Integrated Report (original version) | English (4.07MB) | ||
| Angola (original version) | Portuguese (468KB) | ||
| Botswana (updated version) | English (183KB) | ||
| DRC | French (450KB) | ||
| Lesotho (updated version) | English (286KB) | ||
| Madagascar (original version) | French (518KB) | ||
| Mozambique (original version) | Portuguese (414KB) | ||
| Namibia (updated version) | English (215KB) | ||
| Tanzania (updated version) | English (353KB) | ||
| Zimbabwe (updated version) | English (133KB) | ||
Also available:
Contacts
National Contacts
Permanent Secretary
Ministry of Finance
Avenue 4 Fevereiro 129
LUANDA, Angola
Fax: 244 22 335 350
Mr Kelepile Ndobano
Deputy Permanent Secretary for Economic Affairs
Ministry of Finance and Development Planning
Private Bag 008
GABORONE, Botswana
Fax: 267 390 0379
Mr Victor B. Mbay
Inspector General Des Finances
Ministry of Finances
c/o Inspection Generale Des Finances
Kinshasa/Gombe
DRC
Fax: 27 12 344 4054
E-mail: bavic-mbayi@hotmail.com
Dr Moeketsi Majoro
Principal Secretary
SADC National Contact Point
Ministry of Finance and Development Planning
P O Box 395
MASERU 100
Lesotho
Fax No. 266 22 310964
Mr Paul Gerard Ravelomanantsoa
Directeur Charge de la Dimension Reginale de l’Ajustement
Secretariat Technique de l’Ajustment
Ministere De l’Economie, Des Finances Et Du Budget
Fax: 261 20 22 213 07
Mr Perks Ligoya
Director of Economic Affairs
Ministry of Finance
P O Box 30049
Lilongwe 3
Fax: 265 1 788 391
Mr. Ali Mansoor
Financial Secretary,
Ministry of Finance & Economic Development
Port Louis
Mauritius
Fax: 230 213 6450
E-mail: amansoor@mail.gov.mu
Mr. Augusto Bambo Sumburane
National Director
Ministry of Finance – Studies Department
Av. 10 De Novembro 928
Praca C.P. 272 Da Marinha
Maputo, Mozambique
Fax: 258 21 315 021
Mr Calle Schlettwein
Ministry of Finance
P/Bag 13925
Windhoek
Namibia
Fax: 264 61 227702
E-mail: cschlettwein@mof.gov.na
Mr Dondo Mogajane
Chief Director (Acting)
National Treasury
240 Vermuleun Street
Pretoria 0002
Fax: 27 12 315 5108
Permanent Secretary
Ministry of Finance
P O Box 443
MBABANE
Swaziland
Fax: 268 404 3187
Permanent Secretary
Ministry of Finance
P O Box 9111
Dar es Salaam
United Republic of Tanzania
Fax: 255 222 11 7790 / 222 110 326
Permanent Secretary
Ministry of Finance
P O Box 50062
LUSAKA
Zambia
Fax: 260 1 253 494
Permanent Secretary
Ministry of Finance and Development Planning
Private Bag 7705
HARARE
Zimbabwe
Fax: 263 4 792 750
SADC Secretariat
Sadwick Mtonakutha
Senior Programme Manager
Macroeconomic Policies and Convergence
P/Bag 0095
Gaborone
Botswana
Fax: +267 3972848
E-mail: smtonakutha@sadc.int
Mr. Francis Nyathi
Programme Officer
Macroeconomic Policies and Convergence
P/Bag 0095
Gaborone
Botswana
Fax: +267 3972848
E-mail: fnyathi@sadc.int