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International Monetary Fund

to key social sectors Some analytical work already shared. Other work as described in Bank Work Program will be made available once completed. Ongoing Financial sector development issues Work in partnership with other donors such as DFID will be shared. Ongoing Regional trade policy in the context of the EAC, COMESA and EPA To share TA/Analytical work being prepared for the EAC secretariat. Ongoing III. Agreement on Joint Products Joint products Public and External Debt Sustainability Analysis September 2008

Mr. Masafumi Yabara

, performance has been mixed so far, with the convergence of fiscal deficits excluding grants and inflation persistently exceeding the targets ( Table 12 ). Mechanisms for monitoring countries’ performance under the criteria have not been sufficiently articulated and institutionalized to ensure members’ adherence to the criteria. The EAC countries could consider assigning the EAC secretariat a formal function of assessing and reporting developments under the criteria, at least for the time being. To do so, it is essential that the secretariat have more capacity to conduct

Mr. Emre Alper, Ms. Wenjie Chen, Mr. Jemma Dridi, Mr. Herve Joly, and Mr. Fan Yang
This paper assesses the extent of economic and financial integration among the East African Community (EAC) along a number of dimensions and, where possible, whether integration has increased in the wake of the major regional integration policy milestones.
Richard Hughes

of those EAC member states wishing to join the monetary union. This directive needs to be supported by a program of technical and mutual assistance to help countries bring their fiscal institutions and practices into line with the requirements of the directive. The implementation of the budget frameworks directive also needs to be monitored and enforced through a process of peer review by EAC member countries and/or central monitoring by the EAC secretariat. References Harris , J. , R. Hughes , G. Ljungman , and C. Sateriale , “ Medium

Nabil Ben Ltaifa

, oversight over compilation of data for verification of the convergence criteria should be assigned to a qualified body. The EAC Secretariat currently lacks a well-resourced regional statistics department, and this might be one priority for institutional development to underpin the EAMU process. Fiscal Deficit The EAC has embraced the principle that member countries should demonstrate strong public debt and fiscal deficit positions ahead of monetary union. Large fiscal deficits could hamper the ability of new monetary authorities to deliver low inflation if deficits

Mr. Emre Alper, Ms. Wenjie Chen, Mr. Jemma Dridi, Mr. Herve Joly, and Mr. Fan Yang

A5.1 Pooled and Individual Beta Coefficients of EAC Countries’ Selected Asset Yields (2011–15) Contributors The paper was prepared by C. Emre Alper, Wenjie Chen, Jemma Dridi, Hervé Joly (who led the preparation of this paper), and Fan Yang. The authors would like to thank Roger Nord, David Robinson, Axel Schimmelpfennig, the AFR Research Advisory Group members (Aidar Abdychev and Farayi Gwenhamo), and Dr. Pantaleo Kessy (EAC Secretariat) for useful comments and suggestions. They thank Francine Nyankiye for excellent research assistance. All remaining

International Monetary Fund. Statistics Dept.
This Technical Assistance Report discusses the findings and recommendations made by the IMF mission to assist authorities in Rwanda in aligning the compilation and dissemination of government finance statistics (GFS) in accordance with the Government Finance Statistics Manual 2014. It was recommended that the Ministry of Finance (MINECOFIN) should officially assign GFS compilation duties to a specific subset of its staff. The mission believes that it is important for the MINECOFIN to make a “permanent” assignment of GFS compilation and dissemination duties so that the work can evolve systematically. In the mission’s view, the Macroeconomic Policy Unit appears to be well placed to perform this task. However, the unit should be allocated appropriate resources to take on the responsibility.
International Monetary Fund. Statistics Dept.

– East African Community (EAC) Secretariat collaboration (GFS capacity building) program that aims to assist EAC Partner States in achieving the fiscal data requirements associated with the East African Monetary Union (EAMU) Protocol. A key conclusion of this mission is that the Ministry of Finance (MINECOFIN) should officially assign GFS compilation duties to a specific subset of its staff. Currently, a GFS Technical Working Group (TWG) that is comprised of planning, classification, and compilation committees of changing membership work on an ad hoc basis to

International Monetary Fund. Statistics Dept.

this problem and should be the main priority for the authorities going forward. The mission’s main recommendations are: Inform AFE and the EAC Secretariat of the composition of the updated TWG at their earliest convenience . Allocate more human resources to GFS compilation . Accelerate the tracking and recording in IFMS by Single Project Implementation Units (SPIUs) of disbursements and subsequent NANFA in the context of Capital Grants for each project . Fine-tune the methodology used to compile data on extra-budgetary units (EBUs) and local governments