Governor of the Central Bank of Liberia, Milton A. Weeks
CBL Boss Raps On Key Skills, Functions Of Financial Analysts
By Robert Dixon
MONROVIA, October 18 (LINA) -The Governor of the Central Bank of Liberia, Milton A. Weeks, has underscored the need for economists and financial analysts to acquire the relevant professional skills to adequately perform their duties in the sector.
Weeks observed that being an economist or financial analyst requires the appropriate professional skills that will enhance output of the professionals to present accurate and reliable information relative to its operations.
The CBL Governor made the statement on Monday at the start of a 10-day regional workshop on Economic and Financial Analysis for Analysts organized by the West African Institute for Financial and Economic Management (WAIFEM).
The workshop, which is being held at the CBL in Monrovia, brings together participants drawn from the media, staff and officials of the Finance Ministries of Liberia, Gambia, Ghana, Sierra Leone and Nigeria.
Weeks said failure to appreciate the importance of skills acquisition and other stakeholders in the sector often leads to poor collection, compilation and dissemination of economic and financial statistics, rendering the corresponding analysis fake.
He indicated that in the absence of quality skills in the sector, some analysts undertake their analysis without understanding the basic economic theoretical underpinnings of policies, thereby resulting either in under or over statement of government's policies and programs.
"We at the CBL have offered to provide knowledge enhancement programs to help our economists, journalists as well as Legislative support staff in building their capacities in this area," Weeks noted.
Earlier, WAIFEM Director General Professor Akpan H. Ekpo lauded the participants for their urge to get involved in the training which, he said, is intended to equip them, particularly media practitioners, with an excellent theoretical and practical overview and insight into economic and financial analysis.
WAIFEM was established by the Central Banks of Ghana, Liberia, Gambia, Nigeria and Sierra Leone in 1996, principally to build and improve the capacity of macroeconomic and financial management in member countries.