Canada-International Monetary Fund Technical Assistance - Caribbean Middle East and North Africa

Results achieved as of June 2017 include: (1) in the Eastern Caribbean Currency Union eleven participants graduated from a 6-month intensive Debt Management Program forming a network of public debt specialists ready to apply the acquired skills in their respective national Debt Management Offices (DMO). The certified graduates can now operate in the Regional Government Securities Market auction system without supervision from the Eastern Caribbean Central Bank. This is a first as no DMO staff in the region had previously been certified by the Eastern Caribbean Securities Market; (2) a roll out of a Treasury Single Account (TSA) in Haiti continued during the reporting period with focus placed on consolidating the central government coverage of the TSA. Establishing a TSA and creating accounting functions is helping Haiti achieve substantial benefits such as a consolidated view of government resources and the ability to express the government’s cash position at any time. Also the Treasury’s strengthened capacity to produce fiscal reports and annual accounts is helping increase fiscal transparency; (3) the Banking Supervision Department of the Central Bank of Tunisia developed various elements of risk-based supervision including a prudential quarterly report for banks new risk-based reporting templates and strengthening the process a new bank rating system and drafting some modules/procedural notes for various elements of the onsite inspection process; and (4) staff of the Central Bank of Jordan built a new Forecasting and Policy Analysis System based on a macroeconomic model of the Jordanian economy one useful for analyzing business cycle dynamics. Technical assistance focused on strengthening technical and programming skills necessary for developing and operating macroeconomic models in the IRIS/Matlab software environment.