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International Monetary Fund
In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the Caribbean Regional Technical Assistance Center (CARTAC) subaccount (the “Subaccount”) under the terms of the SFA Instrument.
International Monetary Fund
This supplement provides clarifications and proposes revision to the reforms of the nonconcessional lending toolkit contained in the staff papers on “The Fund’s Mandate—Future Financing Role: Reform Proposals”. The focus of this supplement is on the Flexible Credit Line (FCL) and the Precautionary Credit Line (PCL), for which revised proposed decisions are attached.
International Monetary Fund

Afghanistan, Egypt, Iraq, Jordan, Lebanon, Libya, Sudan, Syria, West Bank and Gaza, and Yemen. Additional beneficiary members of METAC may be added with the consent of the Managing Director and the concurrence of Contributors. b. Each Contributor will consent to the essential terms and conditions of the Subaccount before the Managing Director may accept the Contributor’s resources into the subaccount. c. Resources will be placed in the Subaccount by each Contributor after signature of a Letter of Understanding between the Contributor and the Fund. Contributors may

International Monetary Fund

investments). The resources of the Subaccount will be used to finance capacity building, training and related activities, consistent with the purposes of the Fund for identified beneficiaries of AFRITAC West. The beneficiaries of AFRITAC West are members countries in the West Africa region, which include Benin, Burkina Faso, Côte d’Ivoire, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Senegal, and Togo. Additional beneficiary members of AFRITAC West may be added with the consent of the Managing Director and the concurrence of Contributors. b. Each Contributor will

International Monetary Fund

associated with such investments). The resources of the Subaccount will be used to finance capacity building, training and related activities, consistent with the purposes of the Fund for identified beneficiaries of AFRITAC East. The beneficiaries of AFRITAC East are members countries in the East Africa region, which include Eritrea, Ethiopia, Kenya, Malawi, Rwanda, Tanzania, and Uganda. Additional beneficiary members of AFRITAC East may be added with the consent of the Managing Director and the concurrence of Contributors. b. Each Contributor will consent to the

International Monetary Fund

such investments). The resources of the Subaccount will be used to finance capacity building, training and related activities, consistent with the purposes of the Fund for identified beneficiaries of CAPTAC-DR. The beneficiaries of CAPTAC-DR are members countries in the region, which include Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. Additional beneficiary members of CAPTAC-DR may be added with the consent of the Managing Director and the concurrence of Contributors. b. Each Contributor will consent to the essential

International Monetary Fund

building, training and related activities, consistent with the purposes of the Fund for identified beneficiaries of CARTAC. The beneficiaries of CARTAC are Anguilla, Antigua and Barbuda, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, The Bahamas, Trinidad and Tobago, and Turks and Caicos Islands. Additional beneficiary members of CARTAC may be added with the consent of the Managing Director and the concurrence of

International Monetary Fund

capacity building, training and related activities, consistent with the purposes of the Fund for identified beneficiaries of AFRITAC Central. The beneficiaries of AFRITAC Central are Burundi, Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, the Republic of Congo, the Democratic Republic of Congo, and São Tomé and Príncipe. Additional beneficiary members of AFRITAC Central may be added with the consent of the Managing Director and the concurrence of Contributors. Each Contributor will consent to the essential terms and conditions of the Subaccount

International Monetary Fund
In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the "SFA Instrument"). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the METAC subaccount under the terms of the SFA Instrument. Management has engaged in discussions with member countries in the Middle East region as well as donors on regional needs in capacity building, training and related activities. Because METAC has a proven track record to provide focused, flexible, and responsive technical assistance (TA) in a cost-effective manner, both beneficiary countries of METAC and interested donors are supportive to continue the Fund’s involvement in this regard. The center’s activities will continue to focus on the following key areas representing common policy challenges to member countries, including those related to increased regional integration: (i) revenue administration; (ii) public financial management; (iii) banking supervision; and (iv) economic and financial statistics.
International Monetary Fund
In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. The subaccount for the East Africa Regional Technical Assistance Center (AFRITAC East) would be the third one under the SFA. This paper requests Executive Board approval to establish the AFRITAC East subaccount under the terms of the SFA Instrument.