Search Results

You are looking at 1 - 7 of 7 items for :

  • "CARTAC membership" x
Clear All
International Monetary Fund. Western Hemisphere Dept.

financial management (PFM), macroeconomic programming and analysis, financial sector stability and supervision, and economic and financial statistics. The ECCU region accounts for just over 40 percent of all TA to the CARTAC membership ( Figure 1 ), with a particular focus on financial sector supervision, PFM, and macroeconomic programming and analysis; with 49, 45, and 44 percent respectively ( Figure 2 ) Grenada, St. Lucia, and St. Kitts and Nevis are the most intense users of CARTAC TA amongst the ECCU countries. Figure 1. CARTAC TA in FY2016 ECCU countries

International Monetary Fund. Western Hemisphere Dept.

operations. CARTAC’s core areas of TA and training include revenue administration, public financial management (PFM), macroeconomic programming and analysis, financial sector stability and supervision, and economic and financial statistics. 5. In FY2017 the ECCU region accounted for just over 24 percent of TA 2 to the CARTAC membership ( Figure 1 ), with a particular focus on financial sector supervision, revenue administration and statistics ( Figure 2 ) . Dominica, St. Lucia and St. Vincent and Grenadines are the most intense users of CARTAC TA amongst the ECCU

International Monetary Fund. Western Hemisphere Dept.

growth. Sint Maarten can benefit from its recently acquired (August 2019) CARTAC membership by requesting technical assistance in the needed areas. 37. A major improvement in statistics is needed to inform policymaking . Data gaps hamper effective macroeconomic analysis and surveillance. Both Curaçao and Sint Maarten should address the shortages of human and financial resources limiting data collection, coverage and timeliness, particularly for the National Accounts statistics. National accounts need to be produced with shorter lags and GDP in constant prices needs

International Monetary Fund. Western Hemisphere Dept.
This paper discusses key points of 2017 Discussions on Common Policies of Member Countries of the Eastern Caribbean Currency Union (ECCU). Favorable external conditions continue to support economic recovery in the ECCU, but flat tourism receipts and falling revenues from citizenship programs have weakened growth. The fiscal position has deteriorated slightly, and public debt remains high. Despite progress on financial sector reform, bank lending continues to decline while indigenous banks’ profitability is adversely impacted by increasing costs to secure correspondent banking relationships. The short-term outlook is favorable and risks are broadly balanced, but strong structural policies are needed to address impediments to medium-term growth.
International Monetary Fund. Western Hemisphere Dept.
This 2019 Article IV Consultation focuses on Curaçao and Sint Maarten’s near and medium-term challenges and policy priorities and was prepared before coronavirus disease 2019 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. The fiscal position in Curaçao improved in the past two years, in part due to implemented fiscal measures. Both Curaçao and Sint Maarten would benefit from introducing a Fiscal Responsibility Framework. It could incorporate a central government debt ratio as a long-term anchor and operational rules calibrated to meet it. The report suggests that risks in the financial sector need to be addressed as a matter of priority. The authorities should develop a strategy for addressing financial sector vulnerabilities with the objective of preserving financial stability while minimizing fiscal costs. Significant strengthening of supervision and a complete overhaul of the bank resolution framework are also urgently needed. An across-the board improvement in the governance framework should be a key priority in both countries. Vulnerabilities in the financial system point to the need to strengthen governance in the financial sector.
International Monetary Fund

objectives - considerations such as contribution to regional integration, responsiveness to country priorities, commitment to implementation, country coverage across CARTAC's membership, support for countries confronting fiscal, debt or financial crises Operational - congruence with the modes of TA for which CARTAC was designed 16. First, CARTAC ensures that the request falls within its five core areas. Hence, requests relating, for example, to support for social sector statistics, generic information technology, human resource management, payment systems, etc are

International Monetary Fund. Western Hemisphere Dept.
This IMF Staff Report for the 2016 Discussion on Common Policies of Eastern Caribbean Currency Union (ECCU) Member Countries highlights that the regional recovery in ECCU is gaining ground, supported by continued low oil prices, strong tourism arrivals, and robust citizenship-by-investment receipts. Risks to the near-term outlook are balanced, but growth in the ECCU continues to be hindered by weak competitiveness, banking sector fragilities, susceptibility to natural disasters, and large public debt. The Executive Directors have encouraged the authorities to press ahead with sound macroeconomic policies and structural reforms to decisively address these issues and strengthen the conditions for robust long term growth.