Caribbean Regional Technical Assistance Centre - Phase III

Results as of March 31 2011 (end of project) include: five countries have introduced simpler and more efficient value-added taxes (VAT); six countries are modernizing their customs systems and procedures using risk management techniques resulting in trade facilitation; eight countries have adopted public financial management reform action plans; two countries have adopted a global approach to fiscal management including developing medium-term targeted fiscal frameworks. CARTAC also supported bank supervision and bank stress testing in the Eastern Caribbean Currency Union (ECCU - eight countries) and three other countries insurance supervision in the ECCU and supervision of credit unions in one country. CARTAC assisted the ECCU and Guyana to update the calculation of their national accounts.