Caribbean Regional Technical Assistance Center – Phase V

The project works to build the capacity of governments across the Caribbean to strengthen their institutional and human capacity to design and implement sound macroeconomic policies to promote growth and reduce poverty. The project works to achieve these objectives through delivery mechanisms such as providing technical assistance and training by long-term experts based in the region and short-term advisory assignments in-country workshops and regional training seminars. There are 12 technical specialists primarily based in Barbados at the headquarters of the Caribbean Regional Technical Assistance Center (CARTAC). They engaged in supporting a wide range of economic areas: financial stability tax administration customs financial sector supervision macroeconomic programming real sector statistics external sector statistics and public financial management (PFM). Established in November 2001 CARTAC is one of ten International Monetary Fund (IMF) Regional Technical Assistance Center. CARTAC is in its fifth phase of operations and is a pooled funding mechanism of donor and Caribbean country resources that supports 23 countries across the Caribbean.

The expected outcomes for this project include: (1) improved management of public finances in CARTAC member countries through increased effectiveness of domestic revenue systems more effective and transparent budget preparation and execution and enhanced macro-fiscal policy formulation; (2) increased resolution and minimization of risk factors identified in the financial systems; (3) increased regulation and supervision of capital markets banking and non-bank financial institutions; and (4) increased use of macro-economic statistics programming analysis in key public institutions.