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International Monetary Fund

Abstract

This paper describes technical assistance and training services of the IMF. The paper highlights that the IMF’s responsibility for providing this assistance and its member countries’ need to obtain it, arises out of the importance of good economic and financial management and the recognition of the close relationship that exists between domestic financial policies and procedures and balance-of-payments management. The types of assistance provided, typically in the fields of central banking, fiscal matters, and economic and financial statistics, reflect this link.

International Monetary Fund

Abstract

This paper discusses technical assistance services of the IMF. The technical assistance and advice provided by the IMF to its members are an integral part of its activities. They may take many forms, operate at all levels of authority, and cover a wide array of topics, ranging from broad policy issues to narrow technical problems. Much of the general technical assistance provided by the IMF is a product of its regular annual consultations with members. These consultations provide an occasion for review and appraisal of the country’s economic and financial situation and also an opportunity for the member to draw upon the expertise of the IMF’s staff for advice and assistance.

International Monetary Fund

Abstract

Technical assistance in central banking and currency matters has been made available to requesting members almost from the beginning of the Fund’s operations. It was in the early 1960s, however, when many newly independent nations became members, that this activity became a major element in the Fund’s technical assistance effort. Eager to establish their own financial institutions and to develop an appropriate financial infrastructure, new members turned to the Fund in increasing numbers for advice and technical assistance. As the number of requests mounted, the Fund recognized that it was necessary to devise new ways of providing these services. It met this need by creating the Central Banking Service, which—with the support of the more developed institutions—established a panel of outside central banking experts to provide such assistance. Since its inception in 1963, about 100 members or their dependent territories and 6 multinational organizations have received technical assistance under the central banking program. (See Chart 1 for further details.)

International Monetary Fund

Abstract

A common characteristic of the Fund’s members is a large and growing fiscal sector. Financial programs that the Fund helps its members to formulate, and that are sometimes supported by use of the Fund’s resources, almost always include adjustments, and often call for improvements, in fiscal structure and practices. Moreover, through years of consultation with member countries, it has become clear that the management of government finances requires special attention from the Fund and the member concerned, since balance of payments problems often originate in the fiscal sector.

International Monetary Fund

Abstract

The International Monetary Fund was founded in the aftermath of World War II as the international authority charged with the responsibility of improving the workings of the international monetary system by establishing a code of conduct for its member countries and providing them with financial and technical resources to help them overcome balance of payments problems. The purposes of the Fund, more fully set out in Article I of its Articles of Agreement, are to promote international monetary cooperation; to facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of its members; to promote exchange stability and the maintenance of orderly exchange arrangements among its members; to assist in the establishment of a multilateral system of payments in respect of current transactions between members; to provide members with the opportunity to correct maladjustments in their balance of payments by making financial resources temporarily available to them; and to shorten the duration and lessen the degree of disequilibrium in the international balances of payments of members.

International Monetary Fund

Abstract

The Legal Department has been rendering technical assistance in banking, central banking, currency, exchange, and negotiable instruments in close association with the Central Banking Service and, to a lesser extent, with the Exchange and Trade Relations Department and the area departments. Similarly, it has been rendering technical assistance in fiscal affairs, in close association with the Fiscal Affairs Department, involving primarily the drafting of legislation dealing with individual and corporation income taxes, indirect taxes (such as customs, excises, and sales taxes, including value-added sales taxes), as well as capital gains taxes, property taxes, and land taxes.

International Monetary Fund

Abstract

The general program of technical assistance in statistics, referred to as the Central Bank Bulletin Project, was established in 1969. In organizing a plan for technical assistance in statistics, the Fund considered the need for a practical program that could be implemented by the staff to yield measurable results. It was to achieve these objectives that the technical work was organized around the establishment or improvement of central bank bulletins or similar bulletins that bring together, in one place and in suitable form, the statistics relevant to the analysis of monetary and payments problems.

International Monetary Fund

Abstract

The Fund has undertaken a special responsibility for providing its member countries with technical assistance and training in economic and financial matters to improve their economic management. Over the years, this assistance has become increasingly important. In 1946, a single request was made to the Executive Board of the Fund (by Ecuador) for a technical mission to advise on its banking and monetary situation; in 1984 the Fund assigned an estimated 180 outside experts to assist 65 countries and 4 regional institutions in a range of areas that varied from external debt management and fiscal reform to the methodology of balance of payments statistics. In addition to this assistance, significant help has been given to member countries by Fund staff members through training programs, missions, and the services of resident representatives.