Technical assistance to develop a macroeconomic framework was delivered to the Central Bank of Bosnia and Herzegovina (CBBH) between April 2021 and December 2023. The Quarterly Macro Forecasting Framework (QMFF) developed during this project is a quarterly framework whose main behavioral...

At the request of the Banco Nacional de Angola (BNA), a technical assistance (TA) mission from the Monetary and Capital Markets (MCM) Department visited Luanda, Angola from May 20 to May 24, 2024. The mission helped the authorities review its forecasting and policy analysis system (FPAS),...

The Gambia's economic and social development is highly impacted by climate change. Sea level rise poses substantial risks, and the country is exposed to natural disasters that could become more frequent and intense. Recurring droughts and floods impose large economic and welfare losses. With...

The Bank of Namibia (BON) explored the potential of Retail Central Bank Digital Currency (rCBDC). The key drivers included promoting financial inclusion, modernizing financial system modernization, as well as improving cross-border payments. The technical assistance (TA) mission aimed to provide...

Indonesia's key climate change policy related-data needs stem from well-defined domestic policy priorities and international commitments. The domestic policy priorities are set in the long-term strategy for low-carbon and climate resilience as well as in the medium-term national plan that among...

IMF conducted a mission at the request of the Central Bank of Belize provided technical assistance focusing on developing a framework for the supervision of electronic money issuers in Belize. The mission reviewed existing approaches to supervising firms conducting regulated financial...

This report provides an overview of the technical assistance provided by the International Monetary Fund (IMF) to the Banco de la República to support the authorities in reviewing the regulatory framework and formulating development strategies for the foreign exchange market

This report presents an analysis of the Central Bank of the Republic of Azerbaijan's (CBA) communication framework and offers recommendations for enhancement. The technical assistance mission, led by the IMF Monetary and Capital Markets Department, aimed to modernize the CBA's communication...

Technical assistance to develop a macroeconomic framework was delivered to the Central Bank of Bosnia and Herzegovina (CBBH) between April 2021 and December 2023. The Quarterly Macro Forecasting Framework (QMFF) developed during this project is a quarterly framework whose main behavioral...

Slovak Republic has made significant progress in institutionalizing spending reviews, having completed spending reviews covering 64 percent of total public spending since initiating the spending review project eight years ago. Despite progress, challenges remain, and important choices will need...

A technical assistance (TA) mission was conducted during July 8-12, 2024, to support Statistics Indonesia (BPS) in improving Energy and Air Emissions Accounts statistics. The mission provided advise on how to improve the existing Indonesia energy and air emissions accounts and provided training...

This report presents results on a review of data available to the State Revenue Committee for estimating the Personal Income Tax and Social Security Contribution gaps. It is concluded that SRC has sufficient quality data available from operational audits to assess the gaps

Peru has made significant commitments to climate change through the Law N°30754. The law stipulates the development of a national plan to fight climate change and emphasizes upon the production of data and statistics to monitor and guide the implementation of the Nationally Determined...

IMF Fiscal Affairs Department mission reviewed Kosovo's tax administration progress, highlighting achievements in increased revenue collection and compliance risk management. Recommendations for further improvement include focusing on digital transformation, enhancing human resource capacity,...

At the request of the National Bank of Rwanda (NBR), a technical assistance (TA) mission from the Monetary and Capital Markets (MCM) department was conducted from October 9 to 18, 2023, to enhance the NBR's Forecasting and Policy Analysis System (FPAS). The mission aimed to strengthen the...

The Technical Assistance (TA) mission, conducted in Victoria, Seychelles, from May 2 to 17, 2023, assisted authorities with macroprudential stress testing and climate risk analysis. The stress testing focused on strengthening the solvency and liquidity frameworks: (i) for solvency, considering...

The mission assisted the National Statistical Office of Malawi improve the quality of the published annual estimates of Gross Domestic Product (GDP), progressed the use of Value Added Tax (VAT) data as a basis for developing quarterly series and supported development of current price estimates...

A technical assistance (TA) mission on external sector statistics (ESS) was conducted to the Central Statistics Office (CSO) of Dominica as part of the Caribbean Regional Technical Assistance Centre (CARTAC) work program on ESS. The mission focused on addressing data gaps and improving...

This technical assistance report outlines the current state and future objectives for regulating crypto assets in the Republic of Kenya. The report, prepared at the request of Kenya's Capital Markets Authority, involved an analysis of crypto-asset activities and the related regulatory framework....

This technical assistance (TA) mission on Fiscal Rules was conducted from October 31 to November 12, 2024. Public debt management is crucial for Aruba, particularly due to its economic reliance on tourism. Following the 2008 Global Financial Crisis, debt levels surged to over 70 percent of GDP,...

In response to a request from the Bank of the Republic of Burundi (BRB), the Monetary and Capital Markets Department (MCM) of the International Monetary Fund (IMF) carried out a Financial Sector Stability Review (FSSR) mission from January 31 through February 13, 2024. The FSSR performed a...

This report discusses the findings and recommendations of the 2024 assessment of the data quality of the public sector debt statistics (PSDS) of the Republic of Zambia against the IMF's Data Quality Assessment Framework (DQAF) for PSDS. The assessment was undertaken as part of a project to...

This report discusses the findings and recommendations of the 2024 assessment of the data quality of the public sector debt statistics (PSDS) of the United Republic of Tanzania against the IMF's Data Quality Assessment Framework (DQAF) for PSDS. The assessment was undertaken as part of a project...

The International Monetary Fund (IMF) provided technical assistance to the Banco Cabo Verde (BCV) on reforming and operationalizing its bank resolution framework. Cabo Verde's special resolution regime (SRR) has been in place since 2014, with the BCV serving as the Resolution Authority. It has...

This technical assistance conducts a Climate Policy Diagnostic (CPD) for Papua New Guinea, covering climate adaptation and mitigation policy, as well as enabling institutions. Climate-related risks are macro-critical considerations for Papua New Guinea, while the country faces acute policy...

The IMF's Fiscal Affairs Department (FAD) conducted a Public Investment Management Assessment (PIMA) and Climate Module (C-PIMA) for The Gambia to assess public investment management (PIM) and its climate sensitivity. The assessment found improvements since the 2019 PIMA, including the 2020...

This report provides analysis and advice on tax policy and administration reforms to modernize and improve the income and consumption tax system. On consumption taxes, the key recommendation is to replace the current system that is based on import tariffs, a business turnover tax, and local...

In August 2024, at the request of the Royal Monetary Authority of Bhutan (RMA), the IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) conducted a Technical Assistance (TA) mission in Thimphu. The mission aimed to assist the RMA in establishing an interest rate corridor...

The Africa Climate Resilient Investment Facility (AFRI-RES) was established in 2017 with a €5 million grant from the Nordic Development Fund. AFRI-RES aims to strengthen the capacity of African institutions and the private sector to plan, design, and implement investments in selected sectors...

This report provides a short summary of the work carried out by the START Technical Assistance1 for the Department for Cohesion Policies and the South of the Presidency of the Council of Ministers (Dipartimento per le Politiche di Coesione e per il Sud della Presidenza del Consiglio dei...

Following Art. 19 (13a) of the amended RED II the European Commission is obligated to: Monitor the functioning of the guarantees of origin (GOs) system; Assess the balance of supply and demand of guarantees of origin in the market; Identify relevant factors affecting supply and demand. In order...

Gorj County, in the Romanian region of Southwest Oltenia, contains the largest lignite mining complex for electricity generation in Romania. Its significant reserves of lignite have made Gorj County a key part of the Romanian energy system and economy. The County's two principal power plants...

This technical assistance (TA) report presents the outcomes of the scoping mission of a new TA project aimed at building capacity in macroeconomic forecasting and policy analysis in the Finance Division (FD) of the Bangladesh Ministry of Finance (MoF). The FD has sought Macroeconomic Framework...

At the request of the Ministry of Finance, a mission from the International Monetary Fund visited San Jose. The purpose of the mission was to assess the proposal to a universal basic pension and to estimate its fiscal and welfare impact on the budget, on pension schemes, and on old age income...

At the request of the Directorate of Taxes and Customs, a technical assistance mission evaluated how the authorities launched the Value Added Tax (VAT), administered the tax in the first 12-months of operation, and provided advice on improving the efficiency of the administration of VAT....

Cabo Verde faces development challenges from multiple structural factors, including insularity, territorial discontinuity, fragility of ecosystems, and scarcity of natural resources, namely water and arable land. Climate change implications are amplifying these challenges. As an island extension...

A Technical Assistance (TA) mission was conducted in Dhaka, Bangladesh, from March 5 to 9, 2023, to assist authorities in setting up a framework to assess physical climate risk in the financial system. The TA mission focused on (i) proposing a risk assessment framework tailored to available...

This CD engagement covered two distinct areas to help the National Bank of Georgia (NBG) deliver on its price stability mandate, it: 1) provided a forward-looking analysis of the NBG's balance sheet to assess its policy solvency and to help institutionalize such a process, and 2) outlined a...

A technical assistance (TA) mission was conducted from January 15-19, 2024, to assist the National Bank of Cambodia (NBC) with the further improvement of their Residential Property Price Index (RPPI). The mission was conducted under the auspices of the Data for Decisions (D4D) Trust Fund. The...

A technical assistance (TA) mission on external sector statistics (ESS) was conducted to the Central Statistics Office (CSO) of Saint Lucia as part of the Caribbean Regional Technical Assistance Centre (CARTAC) work program on ESS. The mission focused on addressing data compilation issues on...

The technical assistance encompassed a comprehensive review of all pertinent aspects aimed at enhancing the joint financial stability report (FSR) of the Central Bank of Barbados (CBB) and the Barbados Financial Services Commission (FSC). The mission determined that the development of a detailed...

There have been significant improvements in public investment management (PIM) in Bosnia and Herzegovina - Republika Srpska (RS) over the last decade and the legal and institutional design is now ahead of many regional comparators. The effectiveness of the PIM framework is lagging behind its...

This technical report discusses the findings and recommendations of the Climate Public Investment Management Assessment (PIMA) of Cabo Verde (CPV) undertaken in March 2023. Progress has been made in the development of a comprehensive climate change policy framework, spatial planning,...

The primary objective of the mission was to continue assisting Statistics Botswana with developing the producer price index (PPI). The report provides an overview of ongoing work to expand PPI coverage to include manufacturing and agriculture. Additionally, ongoing work to expand consumer price...

South Africa has many elements of sound fiscal transparency practices. Based on an assessment of fiscal transparency practices against the IMF's Fiscal Transparency Code, South Africa's practices are strongest in fiscal reporting, followed by fiscal forecasting and budgeting, and weakest in...

The IMF conducted a diagnostic review of the financial system of the Kingdom of Eswatini and proposed a Technical Assistance Roadmap to support the authorities' detection of risks and vulnerabilities and to enhance capacity in financial sector oversight. The financial stability module focused on...