The Economic Research Division is charged with the responsibility of undertaking macroeconomic research, providing advice and formulating policies designed at ensuring price and financial stability in the economy and promoting general economic growth. To enable the effective and efficient discharge of this responsibility, the Division is sub-divided into the following three specialized areas, which are interdependent.
- Domestic Statistics & Analysis;
- International Economics; and
- Policy Research, Modelling & Publications.
Domestic Statistics Department
Domestic Statistics & Analysis Department is charged with the responsibility of compiling, collecting, analyzing and disseminating domestic statistics, covering key national macroeconomic indicators, including national accounts, inflation, monetary and financial statistics. The Department also undertakes research with specific emphasis on the real, monetary and financial sectors of the economy.
International Economics Department
The International Economics Department is responsible, among other tasks, for the compilation, analysis and forecasting of the country’s external sector statistics, notably, Balance of Payments and International Investment Position statistics. This includes data compilation and analysis on foreign reserves, merchandise trade, exchange rate dynamics, international commodity prices and external debt.
In addition, the Department monitors and analyses regional and international developments, identifying key risks and opportunities to the domestic economy. The Department also provides support to the Bank’s regional and international engagements and initiatives, as well as general policy advice on external sector issues.
Policy Research, Modelling and Publications Department
The main functions of the Policy Research, Modelling and Publications Department include undertaking strong analytical and empirical research in macroeconomic issues, for use in policy-formulation and advice. The Department also oversees the regular production of the Bank's publications, which are the main avenues for the dissemination of economic information to various stakeholders. Further, the Department is responsible for developing and managing the macroeconomic forecasting models, with the aim of providing policy-makers in both private and public sectors with reliable projections.