This evaluation of technical assistance (TA) and training in statistics looks at the experience of two transition economies, Albania and Georgia, during roughly the period 2005–2010. The TA, including the training, to these countries covered all the topical areas on which the IMF’s Statistics Department’s (STA) focuses, i.e., national accounts, price statistics, and monetary, balance of payments and government finance statistics, albeit with differing emphases between the two countries. Part of the assistance was funded directly from the IMF’s budget, while other elements (in particular the peripatetic advisors) were financed externally, in these cases by the Japanese government.
International Monetary Fund. Monetary and Capital Markets Department
The IMF conducted a Financial Sector Stability Review of the Republic of Guinea in June 2019. The review shows that while the current economic situation is benign, the financial soundness indicators (FSIs) point to increasing vulnerabilities. The economic outlook is currently positive. Moreover, financial inclusion is growing rapidly as mobile money services are quickly adopted. However, the FSIs suggest growing vulnerabilities and possibly some idiosyncratic stress in the banking sector. As a result of data quality and availability issues, it is difficult to make a more in-depth assessment of financial stability and potential vulnerabilities. The financial sector structure is, to some extent, a mitigant to the potential financial stability vulnerabilities. All banks are part of foreign financial groups that they can fall back on during periods of stress. While the current economic situation is benign, it is an opportune moment to develop the necessary capacity to handle potential financial stability vulnerabilities. As a priority, on and offsite supervision and the availability and quality of data on the banking sector, and in a later stage also for the other financial sectors, should be significantly improved, and the regulatory framework for banks should be modernized.
Key Messages • The Iraq Subaccount is a good example of donor coordination as expressed in the Paris Declaration. • Overall, the TAs funded from the Iraq TA Subaccount were successful, relevant, efficient and effective. • Ensuring long-term sustainability requires maintaining an adequate the level of TA activity in the future. • There were instances where more pro-active donor coordination was needed to build synergies to achieve development results. • While the offsite modality was fairly effective and cost efficient and delivered value for money, the limits of this model will be stretched as IMF moves from policy and operational advice and training to greater emphasis on supporting the implementation of policies and procedures. • The Fund’s internal monitoring needs to be strengthened, particularly the TA Information Management System. Reforms in this area are on track, supported by Fund management, and improvements are expected by 1 May 2008. • The Fund’s TA evaluation framework needs to be strengthened by instituting a system of self assessments of all completed TAs and developing guidelines for the ex-post evaluation of TAs. Work in these areas is planned. • The Fund delivered slightly more internally funded TA to Iraq than originally planned.
This paper proposes a strengthened country contributions policy for capacity-building services. It builds on the recent Executive Board discussions on capacity-building reforms, which included proposals for the use of charges (country contributions) to improve the effectiveness and efficiency of the Fund’s capacity-building activities. On the basis of this country contributions policy, management intends to issue a staff guidance note on implementation and to take steps to bring it to the attention of members and other recipients of Fund capacity-building activities.
The IMF’s capacity development (CD) information dissemination policy needs to adapt to a new landscape. The Fund is providing more CD and producing greater and more diverse types of CD-related information. Meanwhile, the external landscape has also evolved, as members, partners, and other CD providers increasingly expect greater transparency and access to information. This paper sets out envisaged reforms to further widen the dissemination and publication of CD information.
The Kyrgyz Republic -- Joint Economic Assessment: Reconciliation, Recovery and Reconstruction; Prepared by the Asian Development Bank, International Monetary Fund, and The World Bank; With the participation of Eurasian Development Bank, European Bank for Reconstruction and Development, European Commission, International Finance Corporation, and The United Nations
This 2009 Article IV Consultation highlights that Tunisia has weathered the impact of the current crisis relatively well. Real GDP growth slowed down from an average of 4.6 percent in 2008 to 0.5 percent in the first quarter of 2009, reflecting mainly a fall in exports of manufactured goods to European Union countries. Executive Directors have commended the authorities for the good performance of the Tunisian economy in the context of the global crisis, owing to strong fundamentals resulting from sound policies implemented over the years.
This 2008 Article IV Consultation highlights that Tunisia’s sound economic policies and pragmatic approach to structural reforms continue to bear fruit, as evidenced by strong growth and improved social indicators. Real GDP growth averaged 5 percent a year while the macroeconomic and financial position strengthened substantially during the past decade. The short-term outlook is encouraging despite the challenging international environment. The fiscal deficit is projected to remain at 3 percent of GDP. The medium-term outlook remains favorable with growth projected at above 6 percent sustained by strong foreign direct investment.