Back Matter

Back Matter

Author(s):
International Monetary Fund
Published Date:
August 2006
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    Annexes
    Annex 1:
    JSA TECHNICAL ASSISTANCE PROJECTS APPROVED IN FY2006
    AFRICA REGION
    BeneficiarySubject AreaCommittedDescription
    Africa—multiple countriesPublic Expenditure Management$142,500Six-month extension of long-term regional advisor based in Ghana to continue assisting with the improvement of public expenditure management in Ghana, Liberia, and The Gambia, particularly in expenditure control and fiscal reporting.
    Africa—multiple countriesPublic Expenditure Management$285,000Further extension of long-term regional advisor based in Ghana to continue assisting with improving public expenditure management in Ghana, Liberia, The Gambia, and possibly also in Sierra Leone. In Liberia and The Gambia, the advisor will focus on strengthening cash management and commitment control systems; in Ghana the focus will be on simplifying the medium-term expenditure framework and improving the Ministry of Finance website.
    Africa—multiple countriesTax Administration$294,000Long-term regional advisor to assist revenue authorities in Guinea, Guinea-Bissau, and Niger with modernization of tax administration, including improvement in headquarters management, development of large taxpayer units, restructuring the network of tax offices, and strengthening audit programs and collection enforcement. The advisor will be based in Guinea-Bissau.
    Africa—multiple countriesTax Administration$285,000Long-term regional advisor to assist ministers of finance and heads of tax departments in Cameroon, the Central African Republic, and the Democratic Republic of the Congo with the implementation of their tax administration modernization action plans based on strategies recommended by the IMF.
    Africa—multiple countriesPayment Systems$249,000Long-term regional expert to assist the central banks in Botswana, Ghana, Malawi, Namibia, Sierra Leone, and Swaziland (and possibly Angola) with the reform and modernization of their national payment and settlement systems.
    Africa—multiple countriesGovernment Finance Statistics$93,750Regional seminar for 30 officials from African countries on the compilation of statistics in accordance with the methodology for the IMF’s Government Finance Statistics Manual 2001. The seminar will be held at the Joint Africa Institute in Tunis.
    Africa—multiple countriesReal Sector Statistics$269,000Extension of long-term resident advisor to assist concerned government agencies in the Democratic Republic of the Congo and the Republic of Congo in strengthening institutional structures and capacities to compile and disseminate economic and financial statistics, including participation in the General Data Dissemination System (GDDS). Under this phase, assistance will focus on the improvement of national accounts and price statistics.
    Africa—multiple countriesReal Sector Statistics$279,000Long-term regional advisor to help the four Lusophone African countries (Angola, Cape Verde, Mozambique, and São Tomé and Príncipe) strengthen the capacity of their national statistics institutes to compile and disseminate accurate and timely national accounts data.
    Africa—multiple countriesReal Sector Statistics$108,400To supplement the assistance provided to the four Lusophone African countries to improve their national accounts and price statistics, short-term experts will help these countries improve the compilation of their consumer price index and improve the electronic and hard-copy dissemination of these statistics.
    Africa—multiple countriesField Visit to JSA-Supported Projects$15,000Provide funding for the costs associated with a joint IMF-Japan field visit to Botswana and East Africa Regional Technical Assistance Center (AFRITAC) aimed at enhancing the knowledge of representatives of the Japanese authorities concerning the effectiveness of JSA-financed projects.
    BEAC—Bank of Central African StatesMacroeconomic Management and Debt$93,750Regional course on macroeconomic management issues and microeconomic management of debt for about 30 officials from the Central African Economic and Monetary Community as well as from Angola, Burundi, Comoros, Democratic Republic of the Congo, Djibouti, Madagascar, Rwanda, and São Tomé and Príncipe.
    BCEAO—Central Bank of West African StatesMacroeconomic Management and Financial Policy$249,000Long-term advisor to help the BCEAO strengthen its analytical capabilities in macrofiscal and monetary policies and develop a system to better monitor economic developments in the member countries of the West African Economic and Monetary Union, particularly the stability of and developments in the financial sector.
    BurundiCentral Bank Operations$249,000Long-term advisor to assist in modernizing the operations of the Central Bank of Burundi, including liquidity management, monetary and foreign exchange operations, banking supervision, and central bank accounting. In addition to providing advice and training, the advisor will also assist in preparing required manuals, guidance notes, and regulations.
    Central African RepublicPublic Expenditure Management$124,500Extension of long-term expert for six months to assist the Ministry of Finance in consolidating improvements made in its budgetary and treasury functions, particularly with regard to the establishment of a sound budget classification, implementation of a Treasury Single Account, and production of budget administrative accounts and operating accounts.
    Congo, Dem. Rep. ofPublic Expenditure Management$249,000Extension of long-term advisor to help the budget and treasury departments build on public expenditure management reforms already undertaken, with particular regard to establishing an effectively functioning budget cycle, improving cash management, timely reporting on budget execution, production of comprehensive financial accounts, and improving staff capacities at the provincial level.
    Congo, Dem. Rep. ofCentral Bank Operations$124,500Extension of long-term information technology expert to continue assisting the Central Bank of the Congo (BCC) to complete the computerization of its accounting and foreign exchange operations. Specifically, the expert will assist with the testing and running of the new software, implementation of the information technology (IT) master plan, and related staff training.
    Congo, Dem. Rep. ofCentral Bank Operations$249,000Continued provision of a long-term general advisor to the governor of the BCC to assist in strengthening the BCC’s capacity in key central bank functions (currency, monetary and foreign exchange operations, and banking supervision) as well as support functions (central bank accounting, internal audit, and IT systems). The advisor will continue to coordinate the work of experts provided by other donors and will also provide hands-on training to senior BCC staff to prepare for the takeover of this position by a Congolese national.
    Congo, Dem. Rep. ofCurrency Arrangements$108,400Short-term expert to help the BCC strengthen its capacity in issuing currency, maintain the quality of banknotes issued, and effectively manage inflows and outflows of currency. In addition to operational guidance, the expert will provide hands-on assistance, training seminars, and workshops.
    East AFRITAC—Africa Regional Technical Assistance CenterPublic Expenditure Management$142,500Regional public financial management (PFM) advisor based for six months at East AFRITAC to supplement the work of the existing regional PFM advisor in assisting the six member countries of East AFRITAC in the following areas: developing improved/ new budget laws and regulations and treasury manuals; strengthening implementation of program/performance budgeting and improving budget classifications; and improving budget execution and accounting systems, including expenditure control, cash management, and fiscal reporting.
    GabonAnti-Corruption Framework$30,000Short-term experts to help Gabon’s National Commission to Combat Illegal Enrichment build its capacity to administer the financial disclosure regime. The experts will conduct a seminar on carrying out and recording investigations of corrupt practices and the preparation of prosecutorial documents for submission to the judicial system.
    GuineaBanking Supervision$108,400Short-term experts to help the Central Bank of the Republic of Guinea strengthen its banking supervision function by building staff capacity for off-site and on-site inspections through hands-on assistance and training, the establishment of procedures and work methods, and the design of manuals and reporting documents.
    NigeriaPublic Expenditure Management$124,500Six-month extension of long-term advisor to assist the Office of the Accountant General of the Federation of Nigeria with the further development and rollout of the new computerized Transactions Recording and Reporting System (TRRS) to line ministries and federal pay offices, training of staff on the TRRS software, as well as the development of improved budgetary classification and codes.
    NigeriaTax Administration$81,300Short-term expert to assist the Federal Inland Revenue Service with the modernization of domestic tax administration, including putting in place an institutional framework to manage the tax administration reform program started in 2004, strengthening the large taxpayer administration, and finalizing the establishment of a function-based tax department that would merge value-added tax (VAT) and income tax administrations.
    SwazilandCentral Bank Operations$124,500Short-term experts to assist the Central Bank of Swaziland enhance its reserves management capability through adoption of internationally accepted trading, investment management, and risk control practices; introduction of improved risk management systems; and development of a risk-sensitive reserves investment strategy.
    UgandaBanking Supervision$228,250Long-term advisor to help the Bank of Uganda strengthen the framework for risk-based supervision and build staff capacity for effectively supervising financial institutions. The advisor will assist with strengthening the legal and regulatory framework for supervision, updating off-site and on-site supervision manuals, and training of staff, and will provide advice on enforcement actions and corrective measures for weak financial institutions.
    WAIFEM—West African Institute for Financial and Economic ManagementFinancial Programming and Policies$93,750Two-week regional course in Banjul, The Gambia, for about 30 participants from the five WAIFEM member countries (The Gambia, Ghana, Liberia, Nigeria, and Sierra Leone) on the analysis of macroeconomic developments and design of policies that promote macroeconomic stability and economic growth.
    West AFRITAC—Africa Regional Technical Assistance CenterReal Sector Statistics$284,000Long-term regional advisor based at West AFRITAC to help the 10 member states strengthen the capacities of their national statistical agencies to collect data and compile and disseminate national accounts and price index statistics consistent with internationally accepted methodologies and practices. The advisor will help participating countries implement plans for improving real sector statistics as described in their GDDS metadata, and provide regular and timely reporting of these statistics to the IMF for operational use and inclusion in IMF statistical publications.
    ASIA AND PACIFIC REGION
    BeneficiarySubject AreaCommittedDescription
    Asia and Pacific—multiple countriesMacroeconomic Management and Structural Adjustment$500,000Continued funding for the training of Asian participants at the Joint Vienna Institute. Most of these participants come from countries implementing economic programs to redress macroeconomic imbalances or carry out structural reforms aimed at improving macroeconomic management and promoting transformation to market economies.
    Asia and Pacific—multiple countriesMacroeconomic Analysis and Policy$249,000Extension of one of two JSA-financed long-term experts assigned to the IMF-Singapore Regional Training Institute (STI) to conduct courses and seminars on various aspects of macroeconomic management, statistical methodology, financial soundness and transparency, and other topics of current interest to member countries.
    Asia and Pacific—multiple countriesMacroeconomic Analysis and Policy$249,000Extension of the second JSA-financed long-term expert assigned to the STI to conduct courses and seminars on various aspects of macroeconomic management, statistical methodology, financial soundness and transparency, and other topics of current interest to member countries.
    Asia and Pacific—multiple countriesAnti–Money Laundering and Combating the Financing of Terrorism$70,000Regional workshop on anti–money laundering measures for criminal justice officials and officials from financial intelligence units from Asian countries. The workshop will provide in-depth training on investigating and prosecuting money laundering cases and forfeiting proceeds from these crimes.
    Asia and Pacific—multiple countriesAnti–Money Laundering and Combating the Financing of Terrorism$93,750Regional workshop for evaluators from member countries of the Asia Group on Money Laundering to provide in-depth training on (1) the methodology required in conducting evaluations to assess compliance with the recommendations of the Financial Action Task Force and (2) the preparation of detailed assessment reports and Reports of Observance of Standards and Codes.
    Asia and Pacific—multiple countriesMultisector Statistics$259,000Regional Multisector Statistics Advisor to help the National Institute of Statistics in Cambodia and the National Statistics Center in Lao P.D.R. strengthen their institutional structure and operational capacity to produce and disseminate reliable and timely statistics (real sector, balance of payments, government finance, and monetary statistics) in support of economic policymaking and government accountability. Assistance will include advising the authorities on the organizational aspects of statistical work, interagency coordination, resource allocation, and statistical legislation, as well as providing classroom and on-the-job training.
    BangladeshCentral Bank Accounting and Audit$81,300Peripatetic expert to assist the Bangladesh Bank (BB) with (1) training of staff in modern accounting practices and systems, (2) transition to a new automated accounting system, (3) addressing issues arising from the 2004 external audit, and (4) timely completion of the 2005 financial statements and external audit.
    BangladeshCentral Bank Accounting and Audit$108,400Peripatetic expert to help the BB address weaknesses identified under earlier technical assistance (TA). Assistance will focus on (1) ensuring that the structure and priorities of the Internal Audit Department are adequate for risk management and (2) training staff to conduct risk-based internal audits.
    BangladeshForeign Exchange Operations$54,200Short-term expert to help the BB strengthen its capacity to oversee the foreign exchange market and determine appropriate responses, especially during times of market pressure or exchange rate volatility. The expert will assist with implementation of earlier recommended improvements in internal BB arrangements and establishment of a formal body for communication between the market and BB.
    BangladeshFinancial Market Development$108,400Peripatetic expert to help the BB implement measures to develop infrastructure and supporting arrangements for the operation of primary and secondary markets for government securities, including introduction of delivery versus payment arrangements, procedural changes for debt management, more active involvement by primary dealers, development of market information and dealer association mechanisms, and revision of investment guidelines.
    BhutanCentral Bank Operations$124,500Long-term advisor to help the Royal Monetary Authority (RMA) build its capacity in a broad area of central bank operations focusing on strengthening the monetary policy framework, assessing the need to create an economic statistics information system and an external communications division, streamlining communications with the National Statistical Bureau, and preparing for the issuance of new ngultrum notes.
    BhutanCentral Bank Accounting and Audit$54,200Short-term expert to help the RMA institute risk-based internal audit operations. Audit programs have already been developed for several RMA functions and the expert will help develop audit programs for the remaining functions and provide on-the-job training in the carrying out of a number of audits.
    CambodiaPublic Expenditure Management$122,800Extension of treasury advisor at the Ministry of Finance and Economy. Assistance during this extension will focus on implementing the new Chart of Accounts and new budget classification, rationalizing the number of government bank accounts for eventual centralization in a Treasury Single Account, strengthening and streamlining budget execution procedures, reducing payment arrears, and improving fiscal reporting.
    CambodiaTax and Customs Administration$216,800Three short-term peripatetic experts to help the Tax Department and the Customs and Excise Department complete implementation of reform programs initiated under the Technical Cooperation Action Plan in support of the Poverty Reduction Growth Facility. In tax administration, the focus will be on the finalization of a functional headquarters structure and its implementation. In customs administration, the focus will be on completion of draft regulations for a revised customs law, revised import/export clearance procedures, improved intelligence capacity at headquarters and local levels, and installation of a nationwide computerized system.
    CambodiaBanking Supervision$249,000Long-term advisor to help the National Bank of Cambodia (NBC) strengthen its on-site supervision program by providing classroom instruction and on-the-job training. The advisor will also serve as a resource for issues relating to bank supervision, assist in strengthening the NBC’s corrective action program, and assist in drafting amendments to the Law on the Organization and Conduct of the National Bank of Cambodia.
    CambodiaCentral Bank Operations$162,600A series of short-term experts to help the NBC strengthen its operations across a broad range of central bank functions, including internal audit, monetary policy and operations, monetary and debt market development, payment system policy and oversight, and risk-focused bank examination.
    ChinaTax Administration$135,500Short-term experts to assist the State Administration of Taxation (SAT) in four key areas of tax administration reform, including introducing risk management techniques, implementing a large-scale modernization of SAT’s IT system, re-engineering business processes, and improving taxpayer services.
    ChinaTax Policy and Public Expenditure Management$279,000Short-term experts to assist the Ministry of Finance address various issues in the areas of tax policy and PFM. In tax policy, the focus will be on exploring the options for taxing financial services under China’s VAT and rationalizing real estate taxation. In PFM, assistance will focus on improving government cash management, developing a new budget law, and introducing accrual accounting practices and a new budget classification system.
    ChinaAnti–Money Laundering and Combating the Financing of Terrorism (AML/CFT)$70,000Workshop on AML/CFT to be held under the Joint China-IMF Training Program in Dalian for staff of the China Anti–Money Laundering Monitoring and Analysis Center. The workshop will deal with the legal and practical issues related to the implementation of a comprehensive AML/CFT framework with particular reference to the detection and analysis of suspect transactions and their investigation and prosecution.
    ChinaForeign Exchange Operations$50,000Workshop on Foreign Exchange Operations and Development of the Derivatives Market to be held under the Joint China-IMF Training Program in Dalian for staff of the People’s Bank of China and related agencies, such as the State Administration of Foreign Exchange and the China Foreign Exchange Trading System. The workshop will cover the following topics: organization of foreign exchange markets; design, pricing, and sequencing of derivatives; role of the central bank in foreign exchange markets; internationalization of the currency; and linkages between domestic and offshore markets.
    ChinaMonetary and Financial Statistics$70,000Course on Monetary and Financial Statistics under the Joint China-IMF Training Program in Dalian for staff of the People’s Bank of China and data compilers of major commercial banks. The course will focus on (1) the IMF’s methodology for collecting, compiling, and reporting monetary data; and (2) the use of macroeconomic statistics in formulating and conducting economic policy.
    ChinaExternal Debt Statistics$70,000Course on External Debt Statistics under the Joint China-IMF Training Program in Dalian for officials from the State Administration of Foreign Exchange and other concerned government agencies. Main topics to be covered are concept and definition of external debt, core principles for measuring external debt, main international sources of data, framework for assessing the quality of external debt statistics, and the uses of external debt data.
    ChinaFinancial Statistics$30,000Seminar on Financial Soundness Indicators to be held in Dalian for senior and mid-level officials from the People’s Bank of China, the China Banking Regulatory Commission, and other agencies involved in financial sector supervision and stability. The seminar will cover (1) the framework for collecting, compiling, and disseminating financial soundness indicators (FSIs) as contained in the IMF’s compilation guide for FSIs; and (2) possible issues to be faced by China in participating in the IMF’s voluntary Coordinated Compilation Exercise for FSIs.
    FijiFinancial Sector Supervision$108,400Peripatetic expert to help the Reserve Bank of Fiji (RBF) strengthen its capacity to supervise the Fiji National Provident Fund (FNPF). Assistance will focus on the preparation of a supervisory work plan and procedures, the steps needed to strengthen the supervisory relationship between RBF and FNPF, and training on concepts and risks of pension fund operations.
    IndonesiaPublic Expenditure Management$81,300Short-term expert to assist authorities with modernization of treasury operations focusing on rationalizing and bringing all government bank accounts under the control of the treasury as a step toward establishing a Treasury Single Account, simplifying government payment processes and accelerating revenue transmittals, and improving accounting and payment processes in regional treasury offices. Assistance will also be provided to strengthen accounting, payment, and reporting on use of donor funds including those for post-tsunami reconstruction.
    IndonesiaPublic Expenditure Management$216,800Short-term experts to further assist the authorities in their reform efforts to improve budget execution; rationalize government banking arrangements; simplify the payment and revenue remittance system; establish effective cash management capacity, including a Treasury Single Account; and strengthen debt management.
    IndonesiaBanking Supervision$81,300Short-term expert to help Bank Indonesia build a research program aimed at developing a regulatory position and methodologies on emerging supervisory issues. The research would focus on (1) issues associated with a progression to Basel II principles and (2) tools for risk-based supervision of financial institutions.
    IndonesiaBanking Supervision and Regulation$81,300Short-term expert to help Bank Indonesia implement a program to improve governance of major banks through preparation of interpretation guidelines and self-assessment guidelines on Indonesia’s Good Corporate Governance Regulation, for use by banks.
    Lao P.D.R.Customs Administration$81,300Short-term expert to help the Ministry of Finance to modernize customs administration with a focus on finalizing customs regulations to implement the new Customs Law, preparing related policy and procedure manuals for customs officers, and developing an effective customs valuation capacity consistent with World Trade Organization (WTO) valuation principles.
    Lao P.D.R.Banking Supervision$243,900Extension of peripatetic expert to help the Bank of Lao P.D.R. strengthen banking regulation and supervision with a focus on improving on-site examination and off-site surveillance, revising and implementing related regulations, monitoring the restructuring of state-owned banks, and improving enforcement practices.
    MaldivesFinancial Sector Supervision$243,900Peripatetic expert to help the Maldives Monetary Authority (MMA) develop its capacity for financial sector regulation and supervision consistent with international best practices. Assistance at this stage will focus on needed changes in the MMA’s organizational structure and scope of its supervisory activities, improvements to prudential and supervisory guidelines and procedures, and staff training.
    MaldivesDebt Management$216,800Short-term expert to help the MMA move to market-based instruments for funding government deficits. The expert will assist with an analysis of the impact of the introduction of treasury bills and government securities on monetary policy, passage of the Public Debt Act, procedural work for the introduction of treasury bills, and training of staff, including the organizing of mock trading sessions and seminars for potential investors.
    NepalMonetary Policy and Operations$81,300Short-term expert to further help the central bank of Nepal (the Nepal Rastra Bank) (1) develop capacity to carry out monetary operations to achieve monetary reserve targets, (2) develop information systems for better monitoring of money market liquidity, and (3) improve coordination of monetary and debt management with the Ministry of Finance.
    NepalCentral Bank Accounting and Audit$108,400Peripatetic expert to help the Nepal Rastra Bank (NRB) strengthen its accounting procedures and financial reporting to meet the basic requirements of the International Financial Reporting Standards (IFRS). In particular, the expert will help the NRB address issues raised in the 2004 external audit, develop a training program, and conduct workshops to improve staff skills in crucial areas.
    NepalCentral Bank Accounting and Audit$108,400Peripatetic expert to further support the NRB in developing capacity to implement risk-based internal auditing. The expert will train staff in audit concepts and practices; assist in documenting workflow, risks, and controls for all of the NRB’s functions; assist in the development of audit work programs; and assist in a pilot audit utilizing new practices.
    Papua New GuineaCentral Bank Accounting and Audit$108,400Peripatetic expert to help strengthen internal audit and governance arrangements at the Bank of Papua New Guinea. Assistance will focus on reviewing and recommending enhancements and improvements in the following areas: the mandate of internal audit in the context of key risks, audit methodologies and processes, staff skills required to conduct risk-based auditing, and technical and IT resources to support internal audit.
    PFTAC—Pacific Financial Technical Assistance CenterTax Policy and Tax and Customs Administration$285,000Extension of regional advisor based at PFTAC in Fiji to continue assisting member countries in implementing their programs to modernize their tax policy framework and reform tax and customs administration, including, among other things, introduction and/or implementation of VATs in Kiribati, the Solomon Islands, Tonga, and Tuvalu; introduction of computerized customs information systems for Kiribati, the Marshall Islands, Niue, Palau, the Solomon Islands, Tonga, and Tuvalu; and redrafting of tax and customs laws in Fiji, Kiribati, Palau, the Solomon Islands, and Tuvalu.
    PFTAC—Pacific Financial Technical Assistance CenterMultisector Statistics$279,000Extension of regional advisor in economic and financial statistics based at PFTAC to continue helping member countries strengthen their capacity to collect, compile, and disseminate a broad range of economic and financial statistics. Assistance, provided through advisory visits and training, will cover a broad range of issues, including management, infrastructure, and priority setting.
    Solomon IslandsFinancial Sector Supervision$108,400Short-term expert to help the Central Bank of Solomon Islands (CBSI) build its capacity to supervise insurance companies and the National Provident Fund. The expert will help improve on-site examination and off-site monitoring of insurance companies, provide guidance on dealing with a distressed company, and help introduce international best practices for pension fund regulation and supervision.
    Solomon IslandsReserve Management$325,200Short-term experts to help the CBSI strengthen its capacity to manage foreign exchange reserves and associated risks, and to implement financial management and reporting systems in accordance with the IFRS.
    Solomon IslandsMonetary Policy and Operations$166,000Long-term advisor to assist in strengthening the capacity of the CBSI to implement policies for sound monetary and financial conditions and to monitor financial sector developments. Assistance will focus on monetary prospects and policy alternatives, near- and medium-term actions and instruments, building monitoring capacity, and preparations for an organizational review of the CBSI.
    Sri LankaFinancial Sector Supervision$162,600Short-term expert to continue assistance to the new Insurance Board of Sri Lanka (IBSL) to strengthen regulation and supervision of the insurance sector in Sri Lanka, particularly with regard to building the IBSL’s capacity to implement a prompt corrective action framework and to improve staff skills for on-site and off-site supervision.
    ThailandBanking Supervision$62,250Extension of long-term resident advisor for three months to help the Bank of Thailand conduct a diagnostic study of its current consolidated bank supervision framework to identify weaknesses that need to be addressed to conform to international standards.
    Timor-LesteCentral Bank Operations$249,000Extension of the long-term resident advisor to the General Manager of the Banking and Payments Authority (BPA) to continue assisting the BPA’s efforts to evolve into a central bank. In addition to building staff skills to perform central banking functions, the advisor will also assist in developing in-house capacity for policy design, developing a strategic institutional plan, and revising the Central Bank of Timor-Leste Law.
    Timor-LesteMultisector Statistics$249,000Long-term resident advisor to help the National Statistics Directorate, the Ministry of Finance, the BPA, and other concerned government agencies to develop the institutional structure and operational capacity to produce more reliable and timely macroeconomic statistics, and to assist in formulating a long-term statistics strategy, preparing needed statistical legislation, and coordinating external assistance for Timor-Leste’s statistics system.
    VanuatuCentral Bank Accounting and Audit$108,400Peripatetic expert to help the Reserve Bank of Vanuatu strengthen its accounting, control, and reporting systems. Assistance will focus on implementing the IFRS, improving internal control and auditing, and implementing an automated accounting system.
    VietnamTax Administration$108,400Continued financing for a peripatetic expert to assist the Tax Department in carrying out its reform program with a focus on implementing the pilot project to introduce modern self-assessment procedures, strengthening collections and audit, improving taxpayer services, and enhancing IT and the computerized system for self-assessment.
    CENTRAL AND WESTERN EUROPE
    BeneficiarySubject AreaCommittedDescription
    AlbaniaMonetary Policy$186,750Extension of long-term resident advisor to help the Bank of Albania adopt inflation targeting as the monetary framework by 2007. The advisor will assist with preparing an implementation schedule, a structural macroeconomic model, a study on the monetary transmission channel, an evaluation of the results of existing inflation forecasting models, an analysis of the consumer price index subgroups, a study of the credit transmission channel for financial institutions, and an analysis of the impact of foreign exchange interventions.
    Bosnia and HerzegovinaReal Sector Statistics$259,000Long-term advisor to assist the Bosnia and Herzegovina Agency for Statistics and other concerned agencies build their capacities for compiling reliable and timely real sector statistics. The advisor will also work with the Central Bank of Bosnia and Herzegovina on improving and expanding the source data for compilation of balance of payments.
    Central and Western Europe—multiple countriesMonetary Policy$255,600Long-term advisor to help the National Bank of Serbia improve its monetary policy decision making through reorganization of concerned departments and recruitment of new staff, and strengthening the analytical base for monetary decision making through upgrading of research and documentation. The advisor will also make short trips to Ukraine to continue assisting the National Bank of Ukraine with its efforts to introduce inflation targeting.
    HungaryAnti–Money Laundering and Combating the Financing of Terrorism$50,000Workshop for law enforcement officials from the Finance Intelligence Unit of the State Prosecutor’s Office and other concerned law enforcement agencies to enhance their knowledge and skills in the conduct of financial investigations and prosecution of money laundering and financing of terrorism cases.
    KosovoCentral Bank Operations$239,000Continued financing for the position of the Managing Director of the Banking and Payments Authority of Kosovo (BPK) to ensure continued development of a sound financial system in Kosovo, which would involve the BPK maintaining healthy financial institutions and developing the role of banks in retail payments, and continued building of local staff capacity to assume managerial positions in the BPK.
    KosovoReal Sector Statistics$249,000Extension of long-term advisor to continue helping the Statistical Office build its capacity to compile and produce real sector statistics. Among other things, the advisor will assist with the design and development of collection, compilation, and reporting systems in accordance with international standards and provide training through courses and on-the-job training.
    Macedonia, FYRTax Administration$108,400Peripatetic expert to help the authorities strengthen the collection of taxes and social insurance contributions through the enact ment of a new law on tax administration, restructuring the headquarters of the Public Revenue Office (PRO), improving PRO’s enforcement programs, introducing comprehensive performance measures, and creating a large taxpayer office to collect taxes from the largest businesses.
    Macedonia, FYRBanking Supervision$249,000Long-term advisor to help the National Bank of Macedonia (NBM) move to risk-based supervision (RBS) through the implementation of its Supervisory Development Plan to meet the preconditions for RBS, including (1) adoption of a comprehensive law to establish sound corporate governance in banks to ensure that they have reliable internal risk management systems, control, and audit processes; and (2) reorganizing NBM banking supervision strategies and procedures in line with RBS.
    EASTERN EUROPE AND CENTRAL ASIA
    BeneficiarySubject AreaCommittedDescription
    Eastern Europe and Central Asia—multiple countriesPublic Expenditure Management$125,750Five-month extension of long-term regional public financial management advisor to help the authorities in Georgia, Tajikistan, and Uzbekistan strengthen their treasury operations, including adoption of a new budget classification and preparations for the implementation of the Accounting Reform Strategy 2007–2015 in Georgia, and meeting preconditions for the introduction of a Treasury Single Account in Tajikistan and Uzbekistan.
    GeorgiaBanking Supervision$249,000Extension of long-term resident advisor to continue helping the Bank of Georgia strengthen its banking supervision capacity to keep up with growth in the banking sector. Assistance will focus on problem bank supervision and resolution, bank chartering and licensing, bank mergers, and preparations for a deposit insurance scheme.
    Kyrgyz RepublicBanking Regulations and Supervision$93,750Seminar on the legal aspects of bank supervision and insolvency for judges and officials of the central bank. The seminar will focus on (1) the economic origins of banking crises and legal responses to resolve crises and mitigate their effects, (2) legal aspects of bank supervision and enforcement, and (3) legal aspects of bank insolvency and resolution.
    Kyrgyz RepublicPayment Systems$162,600Short-term expert to help the National Bank of the Kyrgyz Republic design and implement a retail payments infrastructure as part of the government’s payment systems modernization program. The new infrastructure will include post office outlets and involve large potential users of the new services, such as the Ministry of Finance, the Social Protection Fund, government-owned enterprises, and utility companies.
    RussiaPublic Expenditure Management$249,000Continued financing for a long-term advisor to assist the Russian Federal Treasury with implementation of budgetary reform as outlined in the 2004–06 budget reform concept paper. The advisor will also cooperate with other TA advisors in further improving budget and treasury systems and procedures.
    RussiaBanking Supervision$249,000Long-term advisor to help the Central Bank of Russia strengthen its banking supervision capacity in support of the government’s strategy for developing the banking sector. Among other duties, the advisor will assist with the move toward risk-based assessment and consolidated supervision, issuance of new regulatory documents, development of an early warning system and a more effective internal information system, and coordination of external assistance for the banking sector.
    RussiaMonetary and Financial Statistics$50,000Seminar on Monetary and Financial Statistics to be held at the Training Center of the Central Bank of Russia to review the methodology used in the IMF’s Monetary and Financial Statistics Manual (2000) and the companion Compilation Guide for Monetary and Financial Statistics, as well as the reporting of monetary and financial data to the IMF using the Standardized Reporting Forms for the central bank and other depository and financial corporations.
    UkraineFiscal and Macroeconomic Management$317,000Long-term macrofiscal advisor to help the Ministry of Finance strengthen its capacity for macrofiscal analysis, planning, and forecasting, including estimating macroeconomic consequences of proposed policy decisions or legislation. Assistance will also include the development of a new organizational structure for the Strategic Planning and Fiscal Sustainability Department to better carry out its macrofiscal analysis and policy development functions.
    IMF—MULTIPLE REGIONS
    BeneficiarySubject AreaCommittedDescription
    IMF—multiple regionsCustoms Administration$135,500Short-term expert to help authorities in six countries (Egypt, Fiji, Paraguay, Senegal, Sri Lanka, and Thailand) assess any gaps between their current customs administration systems and the procedures and measures they would be committed to under the WTO negotiations on trade facilitation under the Doha Round, expected to be completed by the end of 2006.
    IMF—multiple regionsTax Legislation$162,600Short-term experts to selected Asia-Pacific countries to assist authorities with drafting various tax legislation including the following: Cambodia: income and profit tax; Lao P.D.R.: VAT; Mongolia: income tax; Vietnam: new enforcement instruments; Kiribati: tax reform legislation; Timor-Leste: property tax and petroleum tax; Tonga: VAT; Afghanistan: tax for mining and hydrocarbon industries; Kazakhstan, Kyrgyz Republic, Tajikistan, and Uzbekistan: amendments to existing tax legislation.
    IMF—multiple regionsCapital Markets Investor Relations$81,300Short-term expert to assist authorities in Indonesia, Turkey, and R.B. de Venezuela with the design and implementation of investor relations programs, including the identification of key statistics for dissemination to investors, effective strategies for communicating with investors, and the establishment of investor relations offices.
    IMF—multiple regionsCapital Markets Investor Relations$81,300Short-term expert to assist authorities in selected countries in Africa, Asia, Eastern Europe, Latin America, and the Middle East with the design and implementation of investor relations programs, including the identification of key statistics for dissemination to investors, effective strategies for communicating with investors, and the establishment of investor relations offices.
    IMF—multiple regionsMacroeconomic Management$500,000High-Level Seminar on “Macroeconomic Management and the Japanese Experience in Economic Development” organized jointly with the Japan Center for International Finance for high-level officials from six Asian (Cambodia, China, Lao P.D.R., Mongolia, Myanmar, and Vietnam) and six Commonwealth of Independent States countries (Azerbaijan, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan).
    IMF—multiple regionsFinancial Supervision$35,500Workshop for staff from supervisory agencies of selected offshore financial centers (OFCs) to strengthen their supervisory practices, particularly with regard to the collection and dissemination of key information, to improve the concerned OFC’s transparency and compliance with international regulatory standards.
    IMF—multiple regionsMonetary and Financial Statistics$93,750Seminar to familiarize compilers from the Francophone countries in Africa and the Middle East with the methodology and procedures for the compilation of monetary and financial statistics based on the IMF’s Monetary and Financial Statistics Manual.
    IMF—multiple regionsNational Accounts Statistics$70,000Seminar on National Accounts Statistics to train national accounts compilers from selected countries in Asia and the Middle East in techniques to implement the System of National Accounts 1993 and in the conceptual and theoretical framework of the broader system of national accounts.
    IMF—multiple regionsJSA Annual Report$24,000Funding for the costs associated with preparation and publication of the English and Japanese versions of the JSA Annual Report and posting on the IMF public website.
    MIDDLE EAST REGION
    BeneficiarySubject AreaCommittedDescription
    Afghanistan, I.R. ofPublic Expenditure Management$249,000Extension of resident treasury advisor to help the Ministry of Finance improve critical areas of treasury functions, in particular to strengthen the organizational structure of the treasury, including through its merger with the Accounting Department; further streamline cash management; improve fiscal reporting; and initiate reforms at the provincial level.
    Afghanistan, I.R. ofMonetary and Financial Statistics$81,300Short-term expert to help Da Afghanistan Bank strengthen the collection and compilation of monetary and financial statistics, in particular to develop a framework for the collection of monetary data and compilation of monetary statistics in accordance with the methodology set forth in the IMF’s Monetary and Financial Statistics Manual.
    Afghanistan, I.R. ofFinancial Programming and Policies$93,750Seminar on Financial Programming and Policies for 25 participants from Da Afghanistan Bank, the Ministry of Finance, and other concerned ministries to enhance their understanding of the design and implementation of macroeconomic and financial policies, particularly with regard to the complementarities of stabilization policies and structural reforms, and the importance of policy coordination for sustained growth.
    Afghanistan, I.R. ofMultisector Statistics$216,800Continued financing of a peripatetic advisor to assist the Central Statistical Office, Da Afghanistan Bank, and the Ministry of Finance in developing and improving their institutional structure and operational capacity to compile and disseminate basic macroeconomic statistics that meet international standards. Special emphasis will be placed on developing critical data sources for these statistics and on-the-job training.
    AlgeriaBanking Supervision$216,800Short-term expert to help the Bank of Algeria strengthen its capacity for off-site and on-site banking supervision. Assistance will focus on enhancing control instruments, strengthening procedures and preparing related manuals, improving information systems, and designing an early warning system.
    EgyptMonetary Policy Operations$249,000Long-term expert to help the Central Bank of Egypt develop, and build staff capacity to operate, a modern and flexible operational framework for monetary policy, including strengthening the monitoring of financial markets, regular communications with financial market participants, and strengthening money market mechanisms.
    MauritaniaCentral Bank Accounting$108,400Peripatetic expert to assist the Central Bank of Mauritania carry out a preliminary assessment of its accounting and financial reporting framework (covering financial statements, the accounting system, and the financial administrative services manual) to identify needed improvements for compliance with the IFRS.
    Middle East—multiple countriesTax and Customs Administration$275,000Regional long-term revenue administration advisor based in the Kyrgyz Republic to assist authorities in Central Asia, initially the Kyrgyz and Tajikistan Ministries of Finance and Tax, with implementation of their reform strategies to modernize revenue administration systems and practices.
    Middle East—multiple countriesMonetary Policy Operations$101,300Short-term expert to help the Bank of Sudan and the Central Bank of Yemen improve their capacity in liquidity management and forecasting, and to enhance the use and effectiveness of monetary policy instruments, including market-based instruments.
    Syrian Arab RepublicCentral Bank Operations$249,000Long-term advisor to help the Central Bank of Syria develop a strategic plan for its modernization and reform, to enable it to implement more effective monetary policy and support a more market-based financial system.
    Syrian Arab RepublicCentral Bank Accounting$124,500Short-term expert to help the Central Bank of Syria improve its accounting system to meet the IFRS, including preparing a new uniform Chart of Accounts, reorganizing the accounting department, and overhauling and modernizing the IT system.
    WESTERN HEMISPHERE REGION
    BeneficiarySubject AreaCommittedDescription
    ArgentinaAnti–Money Laundering and Combating the Financing of Terrorism$50,000Workshop for officials from the Federal Attorney General’s Office and the Criminal Branch of the Judiciary on the enforcement and effective implementation of an AML/CFT legal framework, in particular on the analysis of financial information, investigation and prosecution of AML/CFT crimes, and tracing and forfeiting the proceeds of such crimes.
    ColombiaCapital Markets Risk Management$27,100Short-term expert to help the Ministry of Finance develop effective hedging instruments, with a particular focus on identification of the main impediments for the further development of foreign exchange and fixed-income derivatives markets.
    PeruCapital Markets Development$27,100Short-term expert to help authorities (1) reduce imbalances in the domestic capital markets arising from the growth and accumulation of assets under private pension fund management and (2) improve the methodology for pricing illiquid securities.
    PeruCapital Markets Development$54,200Short-term expert to help the authorities further develop the domestic capital markets by analyzing the applicability of various capital markets instruments from the standpoint of issuance and investment.
    Trinidad and TobagoFinancial Supervision$249,000Long-term advisor to help the Central Bank of Trinidad and Tobago strengthen its capacity for financial supervision through the introduction of new and revised supervisory procedures and manuals, and the upgrading of the reporting framework.
    UruguayDebt Management$27,100Short-term expert to advise the Ministry of Finance on market financing issues, including debt management operations under consideration, cash profile of the public debt, and necessary market access for different classes of debt under alternative financing strategies.
    Western Hemisphere—multiple countriesAnti–Money Laundering and Combating the Financing of Terrorism$50,000Workshop for financial intelligence unit and criminal justice officials from selected countries in Central and South America and the Caribbean on the effective implementation of an AML/CFT framework. The workshop aims to enhance the capacity of these officials to analyze financial information; investigate and prosecute financial crime, particularly money laundering; and trace and forfeit the proceeds of such crimes.
    Western Hemisphere—multiple countriesAnti–Money Laundering and Combating the Financing of Terrorism$269,000Long-term regional advisor based in Argentina to help member countries of the Caribbean Financial Action Task Force and the Financial Action Task Force for South America to (1) review and revise their AML/ CFT laws to conform with international standards and (2) build their capacity to investigate and prosecute AML/CFT crimes.
    Western Hemisphere—multiple countriesMonetary and Financial Statistics$30,000Seminar for Western Hemisphere countries participating in the IMF’s Coordinated Compilation Exercise (CCE) for the compilation of data for the FSIs. The seminar will focus on (1) cross-cutting issues on FSI compilation and preparation of metadata for the CCE and (2) country-specific issues that arose from countries’ first drafts of FSI metadata.
    Western Hemisphere—multiple countriesMonetary and Financial Statistics$271,000Regional advisor based in Mexico to assist the central banks in Central America to harmonize the coverage and compilation of their monetary and financial statistics to enable cross-country comparison of financial data and the compilation of regional financial sector statistics.
    Annex 2:

    JSA JOINT JAPAN-IMF FIELD VISITS

    Purpose

    The purpose of these visits is to provide the Japanese authorities with a firsthand view of how JSA funding is being used in the field. These visits are designed to assess (1) how the authorities value the work of experts funded, (2) whether the authorities are making effective use of the assistance, and (3) whether the technical assistance (TA) is making a contribution to the reform process. Discussions also sometimes touch on more generic TA policy and operational issues such as (1) the relative effectiveness of long-term and short-term expert assignments, (2) identification of TA needs, (3) integration of TA into IMF-supported programs, and (4) the role of resident representatives and TA experts in coordinating assistance from other donors.

    Format

    The joint mission usually comprises two Japanese officials (a representative of the Ministry of Finance and a representative of the Japanese Executive Director’s Office) and an IMF staff member.

    Countries and projects selected for review are based on a number of considerations to reflect different levels of economic development and structural reform and variation between regions and subject areas.

    Once mission members receive briefing notes or are briefed at IMF headquarters, they visit recipient countries where TA is provided and, when possible, meet separately with the senior representatives of the host institution (usually the minister of finance, governor of the central bank, or chairman of the central statistical organization), the immediate counterparts to the expert (usually department heads), and the expert him- or herself. In the case of seminars or training courses, meetings are also held with participants in the respective sessions or courses as well as officials in charge of human resources development at the relevant training institutions. Meetings are typically held with other concerned donors to seek their views.

    Findings

    To date, 12 missions have been carried out (covering 20 countries, two regional training institutes, the Pacific Financial Technical Assistance Center, and the East Africa Regional Technical Assistance Center) since this practice was introduced in FY1996. The field visits have found that JSA funding is well administered and effectively used. In all the visits, the authorities were well aware and fully recognized the importance of, and expressed their appreciation for, Japan’s financial support to the IMF’s TA program. The positive firsthand view gained by the Japanese authorities has contributed to the continued strong support by Japan, through their contributions to the JSA, for the IMF’s TA program. A list of all field visits and a summary report of the two field visits that took place in FY2006 are provided below. Reports on earlier field visits can be found in previous JSA Annual Reports.

    Joint Field Visits in FY1996–FY20061

    1. Fiji (Pacific Financial Technical Assistance Center) and Western Samoa, March 1996

    2. Kazakhstan and the Kyrgyz Republic, June 1996

    3. Zambia and Zimbabwe, December 1996

    4. Russian Federation, July 1997

    5. Bulgaria and Lithuania, June 1998

    6. Indonesia, Singapore Training Institute, and Thailand, June/July 1999

    7. Belarus and Slovenia, June 2000

    8. Azerbaijan and the Joint Vienna Institute, June 2001

    9. Cambodia and the IMF-Singapore Regional Training Institute, June 2002

    10. Mongolia and Timor-Leste, September 2002

    11. Indonesia and Fiji, December 2003

    12. Botswana and the East Africa Regional Technical Assistance Center, December 2005

    Joint Field Visits in FY2006

    East AFRITAC, Tanzania, December 5–6, 2005

    In response to a request by sub-Saharan African countries for enhanced IMF support for their capacity-building efforts, the IMF, in cooperation with donor partners including Japan, established in FY2003 two Africa Regional Technical Assistance Centers (AFRITACs)—one in East Africa based in Dar es Salaam, Tanzania (whose membership includes Eritrea, Ethiopia, Kenya, Rwanda, Tanzania, and Uganda), and the other in West Africa based in Bamako, Mali (whose membership includes Benin, Burkina Faso, Côte d’Ivoire, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Senegal, and Togo). Drawing on positive experience in the Caribbean and the Pacific regions, the centers follow a regional approach to building capacity by maximizing TA delivery among neighboring countries with similar needs. Led by a center coordinator, each AFRITAC has a team of resident advisors in the core areas of the IMF’s competence, supplemented by short-term experts on an as-needed basis, who help member countries to develop and implement their capacity-building programs within the guidelines of each country’s Poverty Reduction Strategy Paper. To ensure ownership of activities by beneficiary countries and accountability to, and coordination with, donor partners, each AFRITAC works under the policy guidance of a steering committee consisting of representatives of member countries and donors.

    In FY2005, a mid-term review of the work of both AFRITACs was carried out by a team of external evaluators. The evaluation found that the regional centers were an effective delivery vehicle for capacity building, particularly through their familiarity with local context and issues, timely responses to beneficiary country needs, enhanced beneficiary country ownership, increased regional cooperation and solidarity, and improved coordination of external assistance. Although the evaluation concluded that the two centers are, for the most part, achieving their objectives, it also made a number of recommendations for improvements focusing on strengthening monitoring and evaluation, developing local staff resources, and promoting the use of local expertise.2

    Japan has been an important donor partner of both AFRITACs with contributions to date totaling $1.6 million. During the visit to East AFRITAC, the Japan-IMF review mission was briefed by the center coordinator and resident advisors and met with the chairman of the East AFRITAC Steering Committee, and also with concerned senior officials in Tanzania, including the governor of the Bank of Tanzania and the permanent secretary of the treasury. The review mission also attended the semiannual meeting of the East AFRITAC Steering Committee, which was being held during the time of the field visit.

    The main concerns of the Japanese members of the review team—the need to retain qualified staff in government agencies for long-term capacity building, the challenge of meeting the increasing demands for assistance with limited available resources, and the need for an eventual exit strategy because the regional centers are not meant to be permanent establishments—were raised with both center staff and the authorities who outlined the measures being taken and described the continuing efforts to address these concerns.3 The achievements and ongoing work of East AFRITAC received high praise from the authorities who confirmed the positive assessment of the mid-term evaluation. At the conclusion of the field visit, the Japanese representatives of the review team expressed strong satisfaction with East AFRITAC’s role in supporting member countries in building their capacities in areas crucial for sound economic development, and with the good coordination among donors, advisors, and authorities.

    Regional Payment System, Botswana, December 7–9, 2005

    Since January 2005, the JSA has been funding an IMF regional payment system advisor based in Botswana to help the central banks in Botswana, Sierra Leone, and Swaziland reform and modernize their countries’ financial payment and settlement systems as part of their strategy to modernize their financial sectors. These individual national efforts are part of ongoing regional initiatives in Africa to integrate the various national payment systems and create a robust cross-border payment system. For Botswana and Swaziland, this integration would involve convergence with the Southern Africa Development Community, and for Sierra Leone, convergence with the West African Monetary Zone.

    In each country, the IMF regional advisor is helping the authorities develop necessary legislation in support of a national payment system and also develop and implement electronic clearinghouses and electronic funds transfer and real time gross settlement mechanisms that form the basis of a modern payment and settlement system. The regional advisor’s work includes assisting with drafting of legislation; establishment of standards, rules, regulations, and procedures consistent with the core principles of the Bank for International Settlements; creation of monitoring and oversight systems; procurement of systems software and hardware; and staff training.

    Work in the three countries is in differing stages of completion. Although good advances have been made in Botswana and Swaziland (which now have electronic clearinghouses and have reduced their respective national clearing cycles to four days with further reductions planned), progress in Sierra Leone has been hampered by the postconflict environment and limited institutional capacity. In general, the main delays encountered in these reform efforts result from the need to involve and consult with the large number of stakeholders inherent in payment systems, including commercial banks, market participants, and other regulatory agencies.

    During their visit, the review mission met with the governor and deputy governor of the Bank of Botswana, as well as with the regional advisor and senior officials of the Bank of Botswana’s National Payments System Reform and Modernization Project. In the view of the authorities, the advisor has made important contributions to the reform efforts and the countries have benefited tremendously from the assistance provided by the IMF and made possible by the JSA. According to the regional advisor, the authorities are strongly committed to the reform process and are fully supportive of the various measures and recommendations made.

    At the end of the field visit, the Japanese representatives of the review mission concluded that the work being carried out to develop the national payment systems was central to reform and modernization efforts in the three beneficiary countries, that significant progress was being made, and that the assistance was highly valued and appreciated. In view of the further work still required, particularly with regard to the installation of real time gross settlement systems and overall strengthening of staff capacity in Botswana and Swaziland and the outstanding issues in Sierra Leone, it is expected that the IMF will continue to provide assistance in this area with additional JSA support.

    Because of scheduling difficulties, joint field visits were not carried out in FY2005.

    The evaluation report, Africa Regional Technical Assistance Centers (AFRITACs) Independent Mid-Term Evaluation: Volume I—Final Report, April 1, 2005, can be found on the IMF website, http://www.imf.org

    These measures include encouraging governments to pay closer attention to career development and adequate salaries, prioritizing assistance for the most urgent needs of the least–developed member countries, and the possibility of slowly “graduating” individual countries from East AFRITAC assistance on a case-by-case basis.

    Annex 3:

    RESULTS OF EVALUATIONS OF TECHNICAL ASSISTANCE PROJECTS

    Following the introduction of a formal process of evaluation of JSA-funded technical assistance projects by the beneficiaries, 120 evaluation questionnaires have been returned by beneficiary authorities. Overall, the responses show that the authorities are highly satisfied with JSA-funded technical assistance. In the few cases in which there was negative feedback, the IMF departments concerned have taken follow-up action to ascertain the cause of dissatisfaction in order to avoid future occurrences.

    As shown in Table 10, answers indicate that the beneficiary authorities are satisfied with the terms of reference for the expert. However, although 92 percent of respondents expressed that the terms of reference reflected their needs, 17 percent indicated that they were not or not fully consulted on the terms of reference prior to arrival of the expert. Beneficiaries were satisfied with the selection of the expert used for the project. Almost all respondents (92 percent) viewed the qualifications and experience of the expert as appropriate. Cooperation between the expert and counterparts was also considered good by 89 percent of respondents. The responses were lower (83 percent) regarding the usefulness of the expert’s advice in terms of the reform efforts. On a question regarding skills transfer, 77 percent of respondents indicated that the expert paid sufficient attention to training and capacity building, leaving 18 percent who indicated that skills transfer was only partially sufficient and another 4 percent who felt it had been inadequate. Respondents were satisfied (82 percent) with the ongoing supervision by IMF headquarters. It is not surprising that, in light of the tasks at hand in most countries and the complex realities of reforming economic and financial management practices and building institutional and human capacities, as well as constraints on technical assistance resources, 20 percent of respondents felt that some relevant issues or tasks were not addressed by the expert. Overall, 60 percent of respondents indicated that they were highly satisfied with the overall progress made during the project and another 38 percent were satisfied. To date, there has been only one case in which the beneficiary authority was not satisfied with progress made under the technical assistance provided.

    Table 10.Results of Evaluations of Technical Assistance Projects(Percent of respondents)
    Yes/HighlyPartially/No/
    QuestionsSatisfactorySatisfactoryUnsatisfactoryN/A
    1. Did the terms of reference for the expert reflect your needs?92611
    2. Were you consulted regarding the expert’s terms of reference before his/her arrival?82981
    3. Were the expert’s qualifications and experience, in your view, appropriate?92701
    4. Did the expert cooperate well with his/her counterparts?891100
    5. Was the expert’s advice useful in supporting reform?831700
    6. Did the expert pay sufficient attention to training and capacity building?771841
    7. Were all relevant issues or tasks addressed by the expert?800200
    8. To your knowledge, was the expert adequately supervised by IMF headquarters?821215
    9. How would you rate the overall progress of this assignment?603811
    Notes: Based on 120 responses. N/A = not applicable.
    Annex 4:
    ADMINISTERED ACCOUNTS—JAPAN FINANCIAL STATEMENT FY2006
    Framework Administered
    Account for Technical
    AdministeredAssistance Activities—
    Account forSubaccount for
    Selected FundJapan Advanced
    Activities—JapanScholarship Program
    2006200520062005
    (Thousands of U.S. dollars)
    Balance Sheet as of April 30, 2006 and 2005
    Assets
    Cash and cash equivalents24,26621,6911,5701,395
    Total assets24,26621,6911,5701,395
    Resources
    Total resources24,26621,6911,5701,395
    Income Statements and Changes in Resources
    for the Years Ended April 30, 2006 and 2005
    Balance, beginning of the year21,69122,6991,3951,686
    Income earned on investments6245624438
    Contributions received22,13320,8491,5571,521
    Payments to and on behalf of beneficiaries(20,182)(22,419)(1,426)(1,850)
    Net changes in resources2,575(1,008)175(291)
    Balance, end of the year24,26621,6911,5701,395
    Note: See the text, footnote 8.

    Other bilateral donors include Australia, Austria, Brazil, Canada, China, Denmark, Finland, France, Germany, India, Ireland, Italy, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Russia, Singapore, Sweden, Switzerland, the United Kingdom, and the United States. Multilateral donors include the African Development Bank, the Arab Monetary Fund, the Asian Development Bank, the Caribbean Development Bank, the European Commission, the Inter-American Development Bank, the United Nations, the United Nations Development Programme, and the World Bank.

    In this report, unless a distinction is made, use of the term “JSA” (Japan Administered Account for Selected Fund Activities) is meant to include the “JAA” (Japan Administered Technical Assistance Account), which was its predecessor.

    The reference to fiscal year (FY) in this report is to the IMF’s fiscal year, which runs from May 1 through April 30. This report thus covers the period May 1, 2005–April 30, 2006. Reports on FY2000–FY2005 can be found on the IMF’s website, http://www.imf.org/JSA.

    For additional information on the IMF’s activities, visit http://www.imf.org

    In this report, “person years” refers to the time spent by IMF staff and experts on TA activities. Some of the increase in FY2006 is the result of a change in the methodology of recording TA work. As of FY2006, all TA-related work—including administrative support that hitherto had not been included, particularly in the IMF Institute and the special services and support departments—is reflected in the total IMF TA delivery figure.

    The IMF currently cosponsors six regional training institutes/programs with other donors and host governments: the Joint Vienna Institute in Austria; the IMFSingapore Regional Training Institute in Singapore; the IMF–Arab Monetary Fund Regional Training Program in the United Arab Emirates; the Joint Africa Institute, temporarily located in Tunisia; the Joint China-IMF Training Program in Dalian; and the Joint Regional Training Center for Latin America in Brazil.

    The five existing IMF regional technical assistance centers comprise two Africa Regional Technical Assistance Centers (East AFRITAC, based in Dar es Salaam, Tanzania; and West AFRITAC, based in Bamako, Mali); the Caribbean Regional Technical Assistance Center (CARTAC), based in Bridgetown, Barbados; the Middle East Technical Assistance Center (METAC), based in Beirut, Lebanon; and the Pacific Financial Technical Assistance Center (PFTAC), based in Suva, Fiji.

    The IMF arranges for an annual audit of the JSA to be undertaken by its external auditors in connection with theannual audit of the IMF’s own accounts, and for a separate certificate of completion to be provided to the Japanese authorities. See Annex 4 for the audited financial statements of the JSA and the Japan Advanced Scholarship Program for FY2006.

    Because of the time required for the contracting and fielding of experts and payment of invoices, there is a time lag between commitments and disbursements. The duration of a JSA-funded TA project is normally 6 to 12 months.

    These figures reflect the priority given to the countries of these regions under JSA financing guidelines, which currently set a target of 50 percent of allocations for countries in the Asia, Central Asia, and Pacific regions combined and 10 percent for the other transitional countries of the former Soviet Union (Armenia, Azerbaijan, Belarus, Estonia, Georgia, Latvia, Lithuania, Moldova, Russia, and Ukraine).

    Multiregional projects are those with beneficiaries from more than one region. Annex 1 includes descriptions of such projects.

    In FY2003, as part of a larger effort to strengthen monitoring and evaluation of IMF technical assistance, a formal multiyear program of TA evaluations was introduced with three to four evaluations to be undertaken annually covering a mix of topics. Evaluations carried out under this program include TA for public expenditure management in selected countries in sub-Saharan Africa, TA to strengthen the commercial court and implement the bankruptcy law in Indonesia, TA to the Democratic Republic of the Congo in the monetary and financial systems sector, an evaluation of PFTAC, and a mid-term evaluation of the AFRITACs. Currently ongoing are evaluations on TA for tax policy in countries undergoing trade and tariff reform, and on experience with implementation of the “upstream approach” for delivery of TA in revenue administration.

    The scholarship program targets candidates from Cambodia, China, Indonesia, Kazakhstan, the Kyrgyz Republic, Lao P.D.R., Mongolia, Myanmar, the Philippines, Tajikistan, Thailand, Turkmenistan, Uzbekistan, and Vietnam, as well as the Pacific Island countries. Nationals of other countries in the region are also considered on a case-bycase basis.

    Under the Japan-IMF Scholarship Program for Asia, an academic year refers to the period October 1–September 30. Thus, academic year 2005 refers to the period October 1, 2005–September 30, 2006.

    Graduate Institute for Policy Studies, Hitotsubashi University, International University of Japan, and Yokohama National University.

    Under the Japan-IMF Advanced Scholarship Program, academic year refers to the period August 1–July 31. Thus, the academic year 2003 refers to the period August 1, 2003–July 31, 2004.

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