Back Matter

Author(s):
International Monetary Fund
Published Date:
October 2008
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    Annexes
    Annex 1: JSA TECHNICAL ASSISTANCE PROJECTS APPROVED IN FY2008
    AFRICA REGION
    BeneficiarySubject AreaCommittedDescription
    Africa—multiple countriesPublic Financial Management$301,400Regional Public Financial Management (PFM) Advisor based in Liberia to help that post-conflict country rebuild a transparent and efficient PFM system and to help The Gambia, Ghana, and Sierra Leone carry out their ongoing PFM reforms.
    Africa—multiple countriesRevenue Administration$209,300Short-term experts to assist authorities in strengthening tax administration in Benin, Burkina Faso, and Cameroon, with a focus on improving compliance from large and medium-sized taxpayers and broadening the tax base. In addition, assistance will also be provided to strengthen customs administration in Cameroon by introducing valuation principles and risk-based controls.
    Africa—multiple countriesTax Administration$149,500Short-term experts to assist authorities in strengthening tax administration in Liberia and Sierra Leone. In Liberia, assistance will focus on launching a goods and services tax, creating a domestic tax department, and improving large taxpayers’ administration. In Sierra Leone, assistance will focus on finalizing separate tax and customs modernization programs for donor funding.
    Africa—multiple CountriesBanking Supervision$179,400Short-term expert to help COBAC (the regional banking commission for Central Africa) strengthen banking supervision in the Central African Economic and Monetary Community (CEMAC) countries through staff training, particularly with regard to on-site inspection, improving human resources management of bank examiners, and providing manuals and methodological tools for use by examiners.
    Africa—multiple countriesMonetary and Financial Statistics$93,750Seminar on monetary and financial statistics for Lusophone African countries (Angola, Cape Verde, Guinea-Bissau, Mozambique, and São Tomé and Príncipe) and Timor-Leste. The seminar is targeted at mid-level officials employed in the compilation of monetary statistics, and will be held at the Bank of Portugal in Lisbon.
    Africa—multiple countriesCentral Bank/Banking Legislation$119, 600Short-term experts to assist Burundi, the Democratic Republic of the Congo, Lesotho, and Sierra Leone in bringing legislation in line with international financial standards and best practices by drafting new legislation and redrafting existing legislation in the following areas: (1) central bank acts, (2) banking acts, (3) other financial legislation (insolvency law, payment and settlement legislation, deposit insurance schemes, supervision of nonbank financial institutions, etc.), and (4) internal central bank and other financial regulations. Where needed, experts will also assist with finalization of draft legislation and the adoption processes, as well as training in the field of financial legislation.
    Africa—multiple countriesMacroeconomic Management and Debt$93,750Course on Macroeconomic Management and Debt Issues, in collaboration with the Banque des États de l’Afrique Centrale (BEAC), for participants from the six member countries of the Central African Economic and Monetary Community (CEMAC) and other countries in the region, including Angola, Burundi, Comoros, Djibouti, Madagascar, the Democratic Republic of the Congo, Rwanda, and São Tomé and Príncipe. The course will focus on the links between macroeconomic and debt policies, focusing on policies necessary to ensure sustainable debt.
    Africa—multiple countriesExternal Debt and Foreign Reserve Management$93,750Course, to be held in South Africa, for central bank and other government officials from selected African countries to broaden their understanding of external sector vulnerabilities. The course aims to provide participants with a comprehensive set of analytical tools for assessing these vulnerabilities, as well as various policy responses. The skills developed during the course will allow participants to address a wide range of issues that pertain to external debt and foreign reserve management, capital account liberalization, and the management of foreign aid flows.
    Africa—multiple CountriesReal Sector Statistics$298,400Extension of long-term regional advisor based at West AFRITAC to continue assisting member countries in carrying out their plans to improve the quality of real sector statistics as described in their General Data Dissemination System metadata. The project will help national statistical agencies develop self-sustaining systems for collecting required data and compiling and disseminating national accounts and price statistics, consistent with internationally accepted methodologies and practices.
    Africa—multiple countriesReal Sector Statistics$280,400Extension of long-term regional advisor to continue helping the Democratic Republic of the Congo and the Republic of the Congo develop their capacities to compile and disseminate economic and financial statistics, including participating in the General Data Dissemination System. Assistance will focus on improving national accounts and price statistics, and strengthening coordination among data-producing agencies and data users as well as among international and bilateral agencies providing assistance in statistics to the two countries.
    BurundiPublic Financial Management$179,400Short-term expert to help the Ministry of Finance strengthen budget management through streamlining budget and accounting procedures, finalizing budget and accounting manuals consistent with the new legal and regulatory framework, and re-establishing the treasury single account at the central bank.
    BurundiCentral Bank Operations$260,400Extension of long-term resident advisor to help the Central Bank of Burundi put in place a modernization strategy with a focus on improved liquidity management and monetary operations; a new data management system; and strengthened management capabilities, organizational structure, and work practices.
    Central African RepublicPublic Financial Management$130,200Extension of long-term expert to help treasury authorities (1) develop a modern chart of accounts and a manual of implementation consistent with the new budget classification, (2) prepare a framework for implementing the chart of accounts, and (3) train staff to prepare documents and tables required by the framework.
    Congo, Democratic Republic of thePublic Financial Management$130,200Six-month extension of long-term advisor to continue assisting the budget and treasury departments with their ongoing reform program. Assistance will focus on strengthening budget preparation and budget management, and improving the quality of public finance by reconciling government accounts and training accountants.
    GuineaCentral Bank Operations$260,400Long-term general advisor to help the Central Bank of the Republic of Guinea (BCRG) strengthen its capacity in key central bank operations, such as foreign exchange and monetary management, and modernize its accounting and internal audit systems. The advisor will also assist in coordinating technical assistance provided to the BCRG by other donors.
    GuineaCentral Bank Accounting$130,200Long-term accounting advisor to help the Central Bank of the Republic of Guinea establish a new accounting system in line with international standards. Assistance will focus on modernizing the accounting directorate’s organizational structure, improving accounting rules and procedures, and strengthening staff capacity through on-the-job training and seminars.
    LiberiaPayment Systems$260,400Long-term advisor to help the Central Bank of Liberia develop a modern national payment system, consistent with international standards, to meet the growing needs of the country as strong economic and concomitant financial activities emerge after the post-conflict period.
    LiberiaBanking Supervision$260,400Long-term advisor to help the Central Bank of Liberia strengthen its banking supervision capability through the implementation of a bank restructuring program and the establishment of an effective supervision department whose personnel will be trained in on-and off-site supervision, and chartering new banks, and closing failed and insolvent banks.
    LiberiaCentral Bank Operations$260,400Extension of long-term resident expert to continue serving as the chief administrator at the Central Bank of Liberia to assist with strengthening its governance and management and to ensure that internal controls and audits are carried out in accordance with established principles. The chief administrator will also help to ensure that recommendations of other technical assistance experts are implemented.
    LiberiaBalance of Payments$260,400Long-term balance of payments advisor to help the Central Bank of Liberia (CBL) develop its capacity to compile and disseminate balance of payments statements consistent with the IMF’s Balance of Payments Manual, fifth edition (BPM5). The advisor will, in particular, assist the CBL in compiling the balance of payments statements for 2006 and 2007, and work with the authorities to implement the International Transaction Reporting System, improve data collection and survey methods, and train staff in data collection and compilation methods.
    NigeriaPublic Financial Management$130,200Six-month extension of resident advisor to assist the Nigerian Federal Treasury with (1) the rollout of the full range of automated systems developed to manage the essential financial management functions of the federal government, and (2) plans and specifications for a future financial management information system.
    RwandaFinancial Sector Supervision$260,400Long-term expert to help the National Bank of Rwanda establish a supervision department in charge of nonbank financial institutions (such as pension funds and insurance and leasing companies), including putting in place supervisory tools and procedures in line with best practices and building staff capacity through hands-on training and seminars.
    Sierra LeoneCentral Bank Accounting$59,800Short-term experts to help the Bank of Sierra Leone (BSL) strengthen its accounting systems and procedures consistent with international best practice, including full compliance with the International Financial Reporting Standards. Assistance will be provided for, in particular, restating BSL’s 2006 financial statement and preparing its 2007 financial statement, updating operational manuals, and building staff capacity through hands-on training, seminars, and workshops.
    Sierra LeoneBanking Supervision$89,700Short-term experts to help the Bank of Sierra Leone strengthen its banking supervision capacity by moving toward risk-based off-site and on-site supervision in line with the recommendations of the 2006 Financial Sector Assessment Program for Sierra Leone. Assistance will include updating and promoting the use of supervisory tools, revising procedures manuals, hands-on training, and developing relevant information technology.
    South AfricaTax Legislation$179,400Short-term experts to assist and provide overall guidance to South African authorities with redrafting the income tax law, customs code, and tax administration act, which would result in a more equitable, understandable, and easier-to-administer income tax law.
    AFRICA REGION
    BeneficiarySubject AreaCommittedDescription
    Asia and Pacific—multiple countriesRevenue Policy and Administration$310,400Extension of regional advisor based at the Pacific Financial Technical Assistance Center (PFTAC) to continue helping member countries implement their short- and medium-term programs to reform tax and customs policy and administration. The advisor will carry out diagnostic and advisory/training missions, manage and backstop short-term assignments of tax and customs experts, and organize attachments of PFTAC member country officials to other countries. The advisor will also continue to assist PFTAC’s efforts to coordinate with donors and other technical assistance providers to ensure uniformity and consistency of approach across the region.
    Asia and Pacific—multiple countriesData Dissemination Standards$50,000Workshop to help national coordinators of countries participating in the IMF’s General Data Dissemination System (GDDS) to understand and implement newly emphasized aspects of the GDDS, especially regarding periodicity and timeliness of data dissemination, advance release calendars, national summary data pages, and related plans for improvement. These efforts would help interested participating countries graduate to the IMF’s Special Data Dissemination Standard (SDDS).
    Asia and Pacific—multiple countriesGovernment Finance Statistics$30,000Workshop on Government Finance Statistics to be held in Bangkok for participants from Cambodia, Indonesia, Lao P.D.R., the Philippines, Sri Lanka, Thailand, and Vietnam. The training will provide participants with a better understanding of the IMF’s Government Finance Statistics Manual 2001 methodology and promote the application of this methodology in the compiling and disseminating of fiscal statistics in their countries.
    Asia and Pacific—multiple countriesMultisector Statistics$305,400Extension of regional advisor based at the Pacific Financial Technical Assistance Center (PFTAC) to continue helping member countries improve their production of a broad range of economic and financial statistics, including national accounts, price, employment and salaries, government finance, balance of payments, and monetary and financial statistics. The advisor will conduct advisory visits, provide training courses and seminars, and assist in the secondment of officials from the statistical agency of one PFTAC member country to that of another. The advisor will also coordinate with other providers of statistical technical assistance to the region.
    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 that are implementing economic programs to redress macroeconomic imbalances or carrying out structural reforms aimed at improving macroeconomic management and promoting transformation to market economies.
    Asia and Pacific—multiple countriesMacroeconomic and Financial Management$260,400Continued funding for one of two JSA-financed long-term experts assigned to the IMF-Singapore Regional Training Institute to conduct courses and workshops in macroeconomic and financial management (including financial programming, monetary and exchange rate policy, and public finance) for mid- to high-level officials from the Asia and Pacific region.
    Asia and Pacific—multiple countriesMacroeconomic and Financial Management$260,400One-year extension for the second JSA-financed long-term expert assigned to the IMF-Singapore Regional Training Institute to conduct courses and seminars in various aspects of macroeconomic and financial management (including financial programming, monetary and exchange rate policy, and public finance) and other topics of current interest to countries in the Asia and Pacific region.
    Asia and Pacific—multiple countriesMacroeconomic Management$350,000High-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 seven Commonwealth of Independent States (Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan) countries.
    BangladeshCapital Markets Development$89,700Short-term expert to help authorities in Bangladesh improve the functioning of the treasury securities markets by (1) establishing delivery versus payment arrangements, (2) implementing procedural changes for debt management operations, (3) supporting more active involvement by primary dealers as market makers, (4) developing market information and dealer association mechanisms, and (5) revising investment guidelines to facilitate insurance and provident company participation.
    BangladeshCentral Bank Accounting$29,900Short-term expert to help the Bangladesh Bank (1) train its accounting staff in modern accounting practices and systems and prepare for the transition to a new automated accounting system and (2) complete its 2006 financial statements and external audit.
    CambodiaCustoms Administration$239,200Two short-term experts to continue helping the Customs and Excise Department implement its reform and modernization plan, including updating regulations and instructions consistent with the proposed new customs law, preparing for installation of the new ASYCUDA (Automated SYstem for CUstoms DAta) computerized customs clearance system, and developing and introducing procedures and guidelines for the new automated operational environment.
    CambodiaBanking Supervision$89,700Short-term expert to help the National Bank of Cambodia (NBC) strengthen on-site supervision of banks through intense instruction and on-the-job training for a team of NBC bank examiners. In addition to working with the team through all aspects of an on-site examination, the expert will review and make recommendations for improving manuals and guidance notes.
    CambodiaCentral Bank Operations$260,400Extension of long-term resident advisor at the National Bank of Cambodia (NBC) to provide day-to-day advice and assistance for strengthening the NBC’s institutional capacity, with a continuing focus on enhancing off-site surveillance of banks, and strengthening the regulatory framework and enforcement of prudential regulations.
    CambodiaCentral Bank Audit$59,800Short-term expert to further help the National Bank of Cambodia strengthen its internal audit department. The expert will provide intensive on-the-job training and guide staff through all stages of internal audit, from preparation of the audit plan through completion of the audit report. Audits will be completed in two areas of operations: (1) soiled notes and vault management activity, and (2) foreign exchange operations and reserves management.
    ChinaTax Administration$29,900Short-term expert to assist in conducting a seminar on the Strategic Management of Tax Administration for officials from the State Administration of Taxation. The seminar will focus on (1) allocation of resources to agreed priorities, (2) development of clear accountability through action and business plans, and (3) linkage of individual performance assessments to attainment of agreed-upon business improvements.
    ChinaAnti–Money Laundering and Combating the Financing of Terrorism (AML/CFT)$50,000Workshop on AML/CFT in the Securities and Insurance Sectors under the Joint China-IMF Training Program in Dalian. The workshop will review practical measures for establishing sound and effective AML/CFT supervisory practices and tools and will enhance participants’ understanding of China’s AML/CFT regulatory practice with respect to the securities and insurance sectors, which is a new area of responsibility for the People’s Bank of China.
    ChinaAnti–Money Laundering and Combating the Financing of Terrorism (AML/CFT)$59,800Two short-term experts to participate in conducting the above-mentioned workshop on AML/CFT in the Securities and Insurance Sectors under the Joint China-IMF Training Program in Dalian. The workshop will review practical measures for establishing sound and effective AML/CFT supervisory practices and tools and will enhance participants’ understanding of China’s AML/CFT regulatory practice with respect to the securities and insurance sectors, which is a new area of responsibility for the People’s Bank of China.
    ChinaMonetary and Financial Statistics$50,000Course on Monetary and Financial Statistics, under the Joint China-IMF Training Program in Dalian, for officials from the People’s Bank of China and data compilers of major commercial banks. The course will focus on the IMF’s methodology (as recommended in its Monetary and Financial Statistics Manual) for collecting, compiling, and reporting monetary data to be used in macroeconomic analysis.
    IndonesiaPublic Financial Management$119,600Extension of a peripatetic expert to continue helping the Ministry of Finance establish a fully operational treasury single account regime, improve cash planning and management through the integration of short-term cash management with debt management, and prepare for the implementation of an integrated financial management information system (“SPAN”) financed under a World Bank loan.
    IndonesiaBanking Supervision$260,400Extension of long-term bank supervision expert to advise the Bank of Indonesia (BI) in various areas of banking regulation and supervision with a focus on (1) risk-based supervision, (2) Basel II issues, (3) aligning supervision with the Basel Core Principles, and (4) further developing stress testing at the BI.
    IndonesiaMarket Risk Supervision$179,400Short-term peripatetic expert to help the Bank of Indonesia (BI) build its capacity for market risk supervision. Among other things, the expert will (1) assist in improving the process, techniques, and examination tools used; (2) provide both classroom and on-the-job training; (3) develop capital markets/market risk related training courses for the BI’s in-house school for banking supervisors; and (4) make recommendations on the required skill sets and career path for the BI’s risk modeling specialists.
    IndonesiaBanking Supervision$89,700Short-term experts to help the Bank of Indonesia’s (BI) in-house school develop a complete set of training materials for training in credit risk analysis which will enable the BI’s front-line supervisors to better understand and evaluate the process of identifying, monitoring, measuring, and controlling credit risk.
    Lao P.D.R.Customs Administration$59,800Extension of short-term expert to help the Lao P.D.R. Customs Department complete preparation of the department’s policy and procedures manual, and finalize instructions to fully implement the World Trade Organization customs valuation agreement.
    MaldivesPublic Financial Management$119,600Peripatetic expert to provide the Maldives authorities with strategic guidance at key junctures in the design, tendering, and implementation of a modern public sector accounting and financial management information system that is being funded by the European Union and the World Bank.
    MongoliaMonetary Policy$29,900Short-term expert to assist the Bank of Mongolia with (1) reviewing theoretical and practical aspects of carrying out a monetary policy with medium-term targets and instruments, (2) developing skills required for setting policy, and (3) adopting a structure for monetary policy implementation that is conducive to policy changes and is consistent with a medium-term horizon.
    NepalPublic Financial Management$29,900Short-term expert to help the Ministry of Finance prepare (1) a new budget classification consistent with internationally accepted standards and (2) a new chart of accounts integrating the new budget classification. These constitute the first step in the needed reform and modernization of Nepal’s public financial management system.
    Papua New GuineaCentral Bank Audit$89,700Short-term expert to help strengthen internal audit in the Bank of Papua New Guinea (BPNG). Assistance will include (1) training on audits of specialist business units across all high-risk areas of BPNG operation; (2) reviewing audits undertaken by internal audit and recommending improvements to programs, approaches, and reporting; (3) recommending improvements to the internal audit manual; and (4) reviewing the audit committee process and recommending improvements.
    PhilippinesPublic Financial Management$119,600Peripatetic expert to help the Department of Budget and Management and the Bureau of the Treasury strengthen budget execution and cash management through simplifying budget control and reporting requirements, rationalizing and improving management of government bank accounts, and improving cash flow projections.
    SamoaMonetary Policy and Operations$59,800Short-term expert to help the Central Bank of Samoa strengthen its capacity for liquidity forecasting and management in order to better address the current tight liquidity conditions in the country.
    ThailandBanking Supervision$260,400Long-term advisor to help the Bank of Thailand (BOT) strengthen its consolidated supervision of banking groups. The advisor will review the current supervisory program for financial conglomerates to identify opportunities for enhancement, and analyze the current structure and staffing of the BOT’s examination division to determine if it sufficiently supports the consolidated supervision of complex financial groups. The advisor will also provide advice on various supervisory issues as requested.
    Timor-LestePublic Financial Management$272,400Continued financing of long-term advisor to further help the Ministry of Planning and Finance (MPF) strengthen its public financial management capacity. Assistance in this phase will focus on (1) streamlining organizational arrangements in the MPF and line ministries, (2) decentralizing treasury functions to line ministries, (3) strengthening the treasury single account, (4) improving the financial management information system, (5) enhancing rules and regulations, and (6) training staff.
    Timor-LesteCentral Bank Operations$130,200Six-month extension of resident advisor to the General Manager of the Banking and Payments Authority of Timor-Leste (BPA) to assist in the BPA’s evolution to a central bank, including completion of the necessary institutional structures, rules of procedure, and operational guidelines, as well as arrangements for the appointment of a Governing Board and Audit Committee.
    Timor-LesteCentral Bank Operations$179,400Peripatetic expert to work with the resident advisor at the Banking and Payments Authority of Timor-Leste (BPA) in helping the BPA evolve into a central bank, particularly with regard to the drafting of by-laws and regulations consistent with the Central Bank of Timor-Leste Law, developing a long-term strategic plan, and evaluating future technical assistance needs.
    Timor-LesteBanking Supervision$89,700Peripatetic expert to help the Bank and Payments Authority of Timor-Leste (BPA) develop the capacity of its supervision department for on-site examinations and off-site surveillance in preparation for the BPA becoming a central bank. Assistance will include staff training, establishing procedures, and preparing manuals.
    VietnamTax Administration$239,200Short-term experts to assist the General Department of Taxation with (1) introduction of a new personal income tax and (2) steps to be taken to establish a full-service large taxpayer operation.
    EUROPEAN REGION
    BeneficiarySubject AreaCommittedDescription
    Europe—multiple countriesAnti–Money Laundering Financing of Terrorism (AML/CFT)$30,000AML/CFT Information Technology (IT) Workshop to be held at the Joint Vienna Institute for officials from financial intelligence units in countries in Central and Eastern Europe. This workshop is a follow-up to the one held in September 2006 and will focus on (1) the development and application of IT systems to prioritize and process large amounts of data, (2) the use of statistical analysis and data mining techniques, and (3) new tools for detecting suspicious transactions.
    AlbaniaBanking Legislation$93,750Workshop on Banking Law for judges and bank regulators in Albania to help increase their understanding of the causes of bank failures, the legal aspects of bank supervision, the regulatory treatment of distressed and insolvent banks, and the role of the judiciary in resolving banking disputes.
    KosovoBanking and Financial Sector Supervision$179,400Short-term experts to help strengthen the supervision capacity of the Central Banking Authority of Kosovo with regard to on-site examination of banks and the regulation of the insurance industry. Assistance will include staff training and the review and revision of insurance regulations and rules.
    IMF—MULTIPLE REGIONS
    BeneficiarySubject AreaCommittedDescription
    IMF—multiple regionsFinancial Soundness Indicators (FSIs)$70,000Seminar on Financial Soundness Indicators (FSIs) to be conducted at the Central Bank of the Russian Federation for participants from countries of the former Soviet Union and Baltic countries. The seminar will provide training and information on (1) FSI compilation using the IMF’s Financial Soundness Indicators: Compilation Guide, (2) the use of FSI and the metadata database created for the Coordinated Compilation Exercise recently carried out in the participating countries, and (3) the use of FSIs in financial stability analysis.
    IMF—multiple regionsGeneral Data Dissemination System (GDDS)$70,000Workshop to be held in Mexico for GDDS coordinators from countries in the Middle East and the Western Hemisphere to help them better understand and implement the newly emphasized aspects of the GDDS, especially regarding periodicity and timeliness of data dissemination, advance release calendars, national summary data pages, and related plans for improvement. These efforts would support interested participating countries graduating to the Special Data Dissemination Standard.
    IMF—multiple regionsAnti–Money Laundering and Combating the Financing of Terrorism (AML/CFT)$93,750Workshop on Money Laundering (ML) to be held in Italy for participants from Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Georgia, Kazakhstan, the Kyrgyz Republic, Kosovo, FYR Macedonia, Moldova, Montenegro, Romania, Serbia, the Russian Federation, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan. The workshop will cover practical issues related to the analysis and investigation of ML and, in particular, to the phenomenon of trade-based ML. Domestic and international cooperation in the fight against ML will also be covered.
    IMF—multiple regionsJSA Annual Report$10,000Funding for the costs associated with preparation and publication of the English and Japanese version of the JSA Annual Report and posting on the IMF public website.
    MIDDLE EAST AND CENTRAL ASIA REGION
    BeneficiarySubject AreaCommittedDescription
    Middle East and Central Asia—multiple countriesPublic Financial Management$317,400Regional public financial management advisor to provide assistance with public financial management (PFM) reforms in selected Central Asia countries including (1) implementing Uzbekistan’s Public Financial Management Reform Strategy 2007–18, (2) developing the treasury component of Tajikistan’s public PFM modernization project, and possibly (3) modernizing budget classification in Armenia and moving to accrual accounting in Azerbaijan. The regional expert will be based in Uzbekistan.
    Middle East and Central Asia—multiple countriesCentral Bank Accounting$308,400Long-term expert based in Mauritania to assist the central banks of Mauritania and Djibouti in strengthening their central bank accounting functions to enable them to meet international financial reporting standards. Assistance will include intensive staff training and helping put in place new policies, procedures, and institutional structures.
    Middle East and Central Asia—multiple countriesExternal Sector Statistics$285,400Extension of regional statistics advisor to help authorities in Azerbaijan, Georgia, and Uzbekistan improve the quality of their external sector statistics, particularly with regard to collection, compilation, production, and dissemination. In Azerbaijan and Georgia, assistance will focus on overcoming institutional impediments in moving toward subscription to the Special Data Dissemination Standard. In Uzbekistan, assistance will focus on steps needed for participation in the General Data Dissemination System.
    Middle East and Central Asia—multiple countriesNational Accounts Statistics$276,400Long-term expert based in the Syrian Arab Republic to help statistical agencies in the Syrian Arab Republic and Lebanon improve their national accounts statistics within the framework of the IMF’s General Data Dissemination System. The expert will provide staff training, assist in establishing a timetable for implementation of IMF recommendations, and work with the authorities to further increase cooperation and coordination in statistics among government agencies.
    Middle East and Central Asia—multiple countriesBanking Legislation$93,750Seminar on Banking Law and Regulations, for judges from Central Asia, to be held at the Joint Vienna Institute. The seminar will focus on (1) the economic origins of banking crises and the legal response to prevent or resolve these crises and mitigate systemic risks, (2) the legal aspects of bank supervision and enforcement, and (3) the legal aspects of bank insolvency and resolution.
    Middle East and Central Asia—multiple countriesField Visit to JSA-Supported Projects$15,000Provide funding for the costs associated with a joint IMF-Japan field visit to the Middle East Technical Assistance Center (METAC) in Beirut and METAC-supported activities in Lebanon and the Syrian Arab Republic.
    Afghanistan, I.R. ofMonetary and Government Finance Statistics$89,700Short-term experts to help the Central Bank of Afghanistan strengthen its capacity to collect and compile monetary and financial statistics and government finance statistics in accordance with the methodologies set out in the IMF’s Monetary and Financial Statistics Manual and Government Finance Statistics Manual 2001.
    Afghanistan, I.R. ofMacroeconomic Management and Fiscal Policy$93,750Course on Macroeconomic Management and Fiscal Policy for officials from the Ministry of Finance, Da Afghanistan Bank, and other government ministries involved in economic and financial issues. The course aims at deepening participants’ knowledge of the design and implementation of macroeconomic and fiscal policies, including such issues as fiscal adjustment, fiscal vulnerability, tax administration and reform, public expenditure management, debt management, civil service reform, and privatization.
    AzerbaijanTax Administration$59,800Short-term expert to help the Ministry of Taxes improve compliance and reduce costs through adopting a risk-management approach and a modern system of self-assessment.
    Syrian Arab RepublicTax Administration$59,800Short-term expert to assist the Ministry of Finance with measures to be taken in introducing the new value-added tax (VAT) including finalizing legislation and by-laws, carrying out taxpayer education and awareness programs, integrating income tax and VAT operations, and modernizing collection procedures and audits.
    Syrian Arab RepublicBanking Supervision$260,400Long-term advisor to help the Central Bank of Syria (CBS) strengthen its banking regulatory and supervisory capacity, including reviewing the adequacy of the CBS’s organizational structure and staffing needs, providing training, and assisting with developing a work program that would lead to implementation of bank regulations and supervision fully in line with the requirements of the Basel Core Principles.
    WESTERN HEMISPHERE REGION
    BeneficiarySubject AreaCommittedDescription
    Western Hemisphere—multiple countriesMultisector Statistics$93,750Statistics workshop to be held at the Eastern Caribbean Central Bank for participants from Caribbean countries, to identify best practices in the provision of statistical services in small counties and strategies for statistical development in such countries.
    Western Hemisphere—multiple countriesGovernment Finance Statistics$59,900Workshop on Government Finance Statistics (GFS) to be held in Costa Rica for participants from seven Central American countries. The workshop, which will focus on defining a regional GFS framework and assessing current national systems and procedures, will initiate a regional project to harmonize GFS in the participating countries that will enable comparative analysis of fiscal development and promote regional policy dialogue.
    EcuadorAnti–Money Laundering and Combating the Financing of Terrorism (AML/CFT)$149,000Short-term experts to help the financial regulatory agency and the finance intelligence unit of Ecuador review the adequacy of regulations applicable to all reporting institutions, assess the adequacy of the supervisory framework (policies, procedures, and resources) with regard to AML/CFT, prepare training material and provide staff training, and prepare inspection manuals for on- and off-site supervision.
    ParaguayCustoms Administration$59,800Extension of long-term expert to further assist the Customs General Directorate with implementation of the customs reform program, with a focus on modernizing control and duty assessment procedures, developing automated facilities, and staff training and human resources development.
    PeruPublic Financial Management$136,600Peripatetic expert to help the Ministry of Finance and the Treasury of Peru improve treasury management and expenditure control. Assistance will address a broad range of issues including (1) reorganization of the Treasury, (2) introduction of a treasury single account, (3) and improved revenue collection and payment mechanisms.
    PeruPublic Financial Management$142,200Resident treasury management advisor to provide additional assistance to the Peruvian authorities with the implementation of a treasury single account, development of a treasury general ledger, integration of the new budget classification in the chart of accounts, strengthened cash and commitment controls, and streamlined procedures for budget execution.
    PeruAnti–Money Laundering and Combating the Financing of Terrorism (AML/CFT)$229,400Short-term experts to help the Peruvian authorities (1) assess the need to amend laws and regulations on AML/CFT and assist in subsequent drafting, (2) improve financial supervision policies and practices with respect to AML/CFT, and (3) strengthen the analytical capabilities of the financial intelligence unit and its capacity to manage reports and other information.
    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 funded experts, (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 includes 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 are selected for review by the Japanese authorities 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 in question. In the case of seminars or training courses, meetings are also held with participants in the respective sessions or courses as well as with 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, 14 missions have been carried out (covering 21 countries, two regional training institutes, the Pacific Financial Technical Assistance Center, the East Africa Regional Technical Assistance Center, and the Middle East 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 its financing of the JSA, for the IMF’s TA program. A list of all field visits and a summary report of the field visit that took place in FY2008 are provided below. Reports on earlier field visits can be found in previous JSA Annual Reports.

    Joint Field Visits in FY1996–FY20081

    • 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, IMF-Singapore Regional 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

    • 13. Cambodia, the IMF-Singapore Regional Training Institute, and the Philippines, March 2007

    • 14. Middle East Technical Assistance Center, May 2008

    Joint Field Visit in FY2008

    Middle East Technical Assistance Center, May 5–8, 2008

    For FY2008, a joint field visit was made to the IMF’s Middle East Technical Assistance Center (METAC).2 Located in Beirut, Lebanon, METAC was opened in October 2004 to provide TA and training to 10 member countries and territories in the region—the Islamic Republic of Afghanistan, Egypt, Iraq, Jordan, Lebanon, Libya, Sudan, the Syrian Arab Republic, West Bank and Gaza, and the Republic of Yemen—to help strengthen their capacity for effective macroeconomic and financial management. Modeled broadly on the IMF’s other regional technical assistance centers in Africa, the Caribbean, and the Pacific, METAC is a collaborative effort between the IMF and a number of multilateral and bilateral donors including Japan (whose assistance is provided through the JSA). METAC’s office space and support and service staff are provided by the government of Lebanon.3

    Like other IMF regional technical assistance centers, METAC is staffed by an IMF coordinator and a team of resident advisors who deliver advice and training in public expenditure management, revenue administration, central bank accounting, banking supervision, and multisector statistics.4 The work of the resident advisors is supplemented as needed by short-term specialists contracted to provide targeted advice and training. The center’s work is guided by a steering committee composed of representatives of member countries, donors, and the IMF.

    Experience with the other regional TA centers has shown that a decentralized, regional approach to identifying and meeting TA needs enhances beneficiary country ownership and commitment, and promotes efficient use of TA resources and accountability. Placing such resources directly in the region increases IMF staff’s familiarity with the needs of member countries, and allows for a more timely and flexible response as well as for the sustained assistance required for capacity building. The regional approach allows for follow-up, continuity, and consistency over time, including on matters relating to regional harmonization and integration. METAC’s location within the region and its close collaboration with regional organizations and other TA providers are also expected to enhance coordination among donors and promote more effective implementation of economic initiatives within the Middle East region.

    A midterm evaluation of METAC, completed in March 2007 by a team of external evaluators, confirmed that the regional center was an effective vehicle for TA delivery, promoted beneficiary ownership of the TA, and strengthened coordination among donors.5 The evaluators found that, in general, beneficiaries were highly satisfied with the performance of METAC. Donors also indicated a high level of satisfaction with METAC’s achievements, with objectives seen as largely accomplished and reporting to donors regarded as generally excellent. While noting the foregoing positive findings, the evaluation pointed out areas for improving operational and organizational effectiveness, particularly with regard to experience-sharing among METAC members, stronger monitoring of output and results of TA, better and more frequent reporting, and streamlining of administrative procedures. The IMF and the METAC member countries are addressing improvements in these areas.

    During their visit to METAC in May 2008, the Japan-IMF review team was briefed by the center coordinator and resident advisors on METAC activities funded by JSA, the organization of METAC work, delivery modality, the relationship with headquarters, and other TA management issues. The review team also attended the semiannual meeting of the METAC Steering Committee, which was being held during the time of the field visit.

    To gain a better understanding of METAC’s work, three METAC-assisted projects were selected for in-depth review by the team: (1) development of cash management capacity in the Ministry of Finance in Lebanon, (2) revenue administration reform in the Syrian Arab Republic, and (3) strengthening of banking supervision in the Syrian Arab Republic.

    In Lebanon, the team met with the minister of finance, and the new cash management unit in the Ministry of Finance. In the Syrian Arab Republic, the delegation met with the deputy minister of finance, the head of the state tax commission, and the tax reform unit to discuss the revenue administration project; and with the governor of the Central Bank of Syria, his advisor, the deputy governor, as well as the banking supervision department, to discuss the banking supervision project.

    For each of the projects reviewed, the concerned technical staff made a presentation to the team on the assistance provided by the project, the progress achieved, the specific benefits of METAC assistance, and future plans. In Lebanon, achievements to date include the establishment of a cash management unit in the Ministry of Finance with trained staff capable of preparing revenue and expenditure forecasts. Achievements under the Syrian Arab Republic’s revenue administration reform include the preparation of a tax administration reform strategy, establishment of a new Syrian tax department, establishment of a large taxpayers office, introduction of modern procedures and systems, and preparations for a value-added tax. Achievements under the Syrian Arab Republic’s program to strengthen banking supervision include issuance of supervisory prudential regulations, and the implementation of a more risk-based supervisory approach with better-trained off-site supervisors and on-site examiners.

    In all three cases, the authorities stressed the importance of assistance provided by METAC and their appreciation for Japan’s contribution to the METAC TA program. Among the strengths of METAC the authorities pointed to were the quality of experts, the timeliness of assistance, its proximity to beneficiary countries, its ability to provide close follow-up and continuous assistance to the authorities in the region, and the complementarity of its assistance with that provided from IMF headquarters. The authorities expressed the need for further assistance, in particular to strengthen and broaden staff expertise, and the importance of IMF TA for their reform process.

    The Japanese members of the review team were particularly interested in the progress achieved by the projects, the effectiveness of TA provided, the METAC organization, and the coordination with TA provided by IMF headquarters. Questions also were asked on the selection and backstopping of experts, the duration of the IMF’s engagement, the sustainability of progress, and the degree of coordination with other TA providers.

    On the latter point, meetings were held in both countries to review coordination with assistance provided by other donors (in Lebanon with the United Nations Development Program team assisting the Ministry of Finance, and in the Syrian Arab Republic with the European Commission delegation). In each case, the review team noted good collaboration with METAC and the meetings confirmed the view that METAC is providing high-quality advice to the authorities.

    The joint field visit was useful to confirm for the Japanese authorities the relevance of the areas of METAC assistance for member countries and METAC’s key role as a vehicle for TA in the region. At the end of the field visit, the Japanese representatives on the review team expressed appreciation for the work carried out by METAC and their satisfaction with the way JSA funds were being used, and also expressed their continued support for METAC.

    Annex 3: ADMINISTERED ACCOUNTS—JAPAN FINANCIAL STATEMENT FY2008
    Framework Administered
    Account for Technical
    AdministeredAssistance Activities—
    Account forSubaccount for
    Selected FundJapan Advanced
    Activities—JapanScholarship Program
    2008200720082007
    (Thousands of U.S. dollars)
    Balance Sheet as of April 30, 2008 and 2007
    Assets
    Cash and cash equivalents20,50922,6381,0251,245
    Total assets20,50922,6381,0251,245
    Resources
    Total resources20,50922,6381,0251,245
    Income Statements and Changes in Resources
    for the Years Ended April 30, 2008 and 2007
    Balance, beginning of the year22,63824,2661,2451,570
    Income earned on investments1,0979966061
    Contributions received18,24419,3131,5201,482
    Payments to and on behalf of beneficiaries(21,470)(21,937)(1,800)(1,868)
    Net changes in resources(2,129)(1,628)(220)(325)
    Balance, end of the year20,50922,6381,0251,245
    Note: The IMF arranges for an annual audit of the JSA to be undertaken by its external auditors, in connection with their annual audit of the IMF’s own accounts, and for a separate certificate of completion to be provided to the Japanese authorities.

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

    The joint Japan-IMF review team consisted of Mr. Oki Yasui, Deputy Director, International Organizational Division, Ministry of Finance; Mr. Hiromi Yamaoka, IMF Alternate Executive Director for Japan; and Mr. Andrea Siviero, Senior Technical Assistance Officer, IMF Office of Technical Assistance Management.

    The total METAC budget over its initial three-year funding cycle (November 2004-November 2007), including the IMF contribution and the host country contribution in kind, was approximately $17 million. Japan’s contribution in this first phase was $1.4 million. The other donors include the European Commission, the European Investment Bank, France, Kuwait, Oman, Qatar, Saudi Arabia, Sudan, the United Arab Emirates, and five beneficiary countries—Egypt, Jordan, Lebanon, Libya, and the Republic of Yemen.

    Currently, METAC has five resident advisors: two in fiscal affairs, two in central banking and banking supervision, and one in multisector statistics. During METAC’s first phase (November 2004-November 2007), the JSA financed three of the resident advisors (in public financial management, banking supervision, and central bank accounting).

    The midterm evaluation report is available on the IMF website, http://www.imf.org

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