Consultancy to Conduct a Peer Review of The Central Bank of Kenya Macro Model

Republic of Kenya
Office of the Deputy Prime Minister and Ministry of Finance
Financial and Legal Sector Technical Assistance Project
Consultancy to Conduct a Peer Review of The Central Bank of Kenya Macro Model
Request for Expression of Interest
Ref: EOI/003/2010-2011
Credit No. 3992 KE
Project ID No. P083250.
This request for Expression of Interest follows the General Procurement Notice (GPN) for this project that appeared in United Nation Development Business No. 674 of March 16, 2006 and was updated in UN Development Business No. 707 of July 31, 2007.

The Government of Kenya has received a credit from the International Development Association and a Grant from the UK Department for International Development (DFID) towards the cost of the Financial and Legal Sector Technical Assistance Project (FLSTAP). It is intended that part of the proceeds of this credit be applied to eligible payments under the contracts for provision of Consultancy to conduct a peer review of the Central Bank of Kenya Macro model. This consultancy is shortterm consultancy expected to take a period of three months.
1. Objectives of the Assignment
The overall objective of this peer–review exercise is to assess the Central Bank modeling team progress so far and to assess whether the proposed model when operationalized would be able to provide answers to various “what if” scenarios. These “what if” scenarios should guide the CBK in evaluating the possible effects of fiscal, monetary and other macroeconomic policies and generate plausible forecasts.
The review will also evaluate whether the modelling work as currently envisaged provides a foundation to improve monetary policy formulation and policy making for the Central Bank of Kenya.
2. Scope of Work
The consulting firm shall undertake the following specific tasks:
  • Progress So far: The peer-reviewers will evaluate the work done by the modelling team so far for appropriateness and whether it meets academic rigour;
  • Strategic objectives: Assess whether the model as being envisaged will meet the strategic objectives of the Central Bank of Kenya and evaluate whether this work provides a foundation to improve monetary policy formulation and policy making;
  • Provide Guidance: The peer-reviewers will provide guidance and how the work needs to proceed to achieve the strategic objectives of the Monetary Policy Committee and the Central Bank of Kenya;
  • Training: conduct training on identified areas of skills gap to staff to enhance their skills to improve the model;
  • Assess the training needs of the macro modelling team: To institutionalise macro-modelling in the Central Bank of Kenya, assess the training needs of the Research Department and the modelling team and make recommendations;
  • Simulations and solving the model: provide guidance in simulating and solving the model.
3. Expertise Required
The team of consultants should demonstrate, in writing, their understanding of the topic in addition to
having extensive experience in macro modelling
4. The Ministry of Finance (the Client) through its Project Implementation Unit (PIU) now invites eligible consulting firms to express their interest in providing this service. Interested consulting firms shall provide information indicating their professional capability to undertake the consultancy. Such information may include brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.
Consultant firms should provide the most recent profiles of their consultants showing their experience, qualifications, capabilities, references and details of past experience especially in the area of their expertise etc. Consultants may associate to enhance their qualifications
5. Interested eligible firms may obtain further information at the address given below during office hours between 0900 to 1630 hours, Monday – Friday inclusive, exclusive of public holidays, before the deadline for the submission of Expressions of Interest. The selection of consultants will be in accordance with procedures set out by World Bank Guidelines: Selection and Employment of Consultants by World Bank Borrowers, May 2004 and revised in October 2006.
6. Complete Expressions of Interest documents in plain sealed envelopes with consultancy reference and name clearly marked on top should be sent to the address below or forwarded using the email addresses as shown below or placed in the tender box at our offices on the 7th floor, Anniversary Towers, North Tower
Postal Address:
Project Implementation Unit
Attention: Procurement Specialist
P.O Box 00100 – 34542
Nairobi, Kenya.
Physical Address:
Project Implementation Unit
Attention: Procurement Specialist
7th Floor, Anniversary Towers, North Tower.
Plot No. 209/9744, University Way
Nairobi, Kenya.
Telephone No.: 254 – 20 – 2210271/2210341
Fax No.: 254 – 20 – 2210327
E-mail: info@flstap.go.ke
7. Deadline for submission of Expressions of Interest is 30th Sept 2010 at 1600 hours Kenyan local time.
Procurement Specialist, FLSTAP
For: Financial Secretary

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