serving the region in partnership with: the european commission the european investment bank france...
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Serving the region in partnership with:
The European Commission
The European Investment Bank
France
Japan
Kuwait
Oman
“METAC is a shining example of how technical assistance can be
effective in bringing about tangible and important developments…”
Dr. J. Al-WazirGovernor of the PMA
METAC Overview
METAC was established on October 25, 2004 in Beirut, Lebanon
METAC is a collaborative effort between the International Monetary Fund (IMF), the recipient countries, and bilateral and multilateral donors.
METAC Donors
EIB
EC
France Japan
Oman Kuwait
METAC Countries
WBG
METAC Governance
METAC is governed by a Steering Committee that includes recipient countries, donors and IMF staff. The SC is chaired by the Minister of Finance of Lebanon.
The SC acts as an advisory body, providing guidance to develop the Center’s strategy and define its priorities.
The SC meets on an annual or need basis.
Central Bank Accounting (replaced by
Public Debt Management)
Revenue Administration
Public Financial
Management
Multisector Statistics
Banking Supervision
METAC
METAC TA Areas
Provide capacity-building assistance
Facilitate the reform process in member countries
Support the region’s integration in the world economy
METAC Mandate
METAC’s resources are available for :
Diagnostic work
Implementation of plans based on the assessments by TA departments at IMF Headquarters
Providing policy and technical advice either by the Center’s own advisors or by consultants hired by METAC
Organizing training courses, seminars, workshops and dissemination of best practices
METAC Mandate
Integration with IMF surveillance and lending activities
Integration with IMF surveillance and lending activities
Decentralized and well tailored delivery of TADecentralized and well tailored delivery of TA
Strong country ownershipStrong country ownership
Fast and efficient response to TA requests Fast and efficient response to TA requests
Effective follow up on implementation of TAEffective follow up on implementation of TA
Close coordination with other TA providersClose coordination with other TA providers
Focused subject-specific and hands-on training for local officials
Focused subject-specific and hands-on training for local officials
METAC Advantages
Banking SupervisionEnhancing banking supervision procedures in accordance with international best practices
Building the capacity of banks’ examiners through training, seminars and workshops
Strengthening the examination process through the development of new financial statements and early warning systems
METAC TA in Banking Supervision
Developing credit registry systems for better monitoring of credit facilities
Main purpose is to create a sound banking supervision environment to maintain public trust and confidence in the banking sector, by:
Multisector StatisticsDeveloping compilation and dissemination procedures
Identifying emerging data sources
Preparing and verifying data
METAC TA in Statistics
Documenting data sources and compiling methods
Main purpose is to improve the overall quality of macroeconomic statistics and to promote the use of internationally-accepted concepts
and statistical methodologies, by:
Public Financial Management
Improving organization and providing capacity building at ministries of finance
Improving financial accounting and reporting and strengthening internal and external control mechanisms
Reforming budgeting and accounting classification; and improving treasury systems
METAC TA in PFM
Main purpose is to build capacity for reforms in budget preparation and execution to improve expenditure control and revenue monitoring, by:
Revenue Administration
Enhancing revenue administration organization and procedures
Implementing effective compliance control tools for tax collection
Developing legislative frameworks for tax administration
METAC TA in Revenue Administration
Main purpose is to plan and implement revenue administration reforms, by :
Central Bank Accounting
Providing technical support for the transition to integrated financial management information systems
Improving the financial and management reports in compliance with International Financial Reporting Standards
Developing the internal audit function
METAC TA in Central Bank Accounting (Ceased in October 2009)
Main purpose was to assist central banks and monetary authorities in modernizing central bank accounting systems, procedures, policies,
and controls, by :
METAC TA in Public Debt Management (Starting March 2010)
Improving public debt management and developing public debt markets are
important for METAC members. The new resident advisor on debt managementwill initially assess the state of debt
management in METAC countries and will then come up with a workplan to enhance
debt management frameworks and enhance the effective coordination between debt
management and monetary policy.
Workshops & Seminars
METAC organizes a large number of regional seminars and conducts intensive and hands-on in-country training.
METAC Outreach Activities
Arab Economic Integration Conference,
Kuwait, Nov 11-12, 2008METAC Annual report
launching, Aug 7, 2008
METAC Outreach Activities
METAC participation in the International Colloquium on Decentralization, Apr 2009
Forum on Financial Crisis, in collaboration with the Union of Arab Chamber of Commerce, Beirut, Dec
2008
METAC Outreach Activities
General Debt in Lebanon, Institute Bassil Fuleihain, Feb
2009
حول المالي للمعهد ورشةالعام الدين أزمة
فليحان باسل معهد نّظ�مأمس واالقتصادي المالي
الدولية المؤسسة مع بالتعاونعمل ورشة والتدريب، لإلدارةلبنان في العام الدين أزمة عنالعامة، الموازنة على وتأثيرها
المستشار فيها حاضرتوفيق الدكتور االقتصادي
مدير كالمه على وعّق�ب كسبار،للمساعدة االقليمي المركزالتابع األوسط للشرق الفنيةسعادة الدولي النّقد لصندوق
.شامي
Economic Impact of the Global Economic Impact of the Global Financial Crisis on the Gulf Financial Crisis on the Gulf
Region and Policy Response, Region and Policy Response, Abu Dhabi, Dec 2007Abu Dhabi, Dec 2007
Partnership
Partnership with donors is instrumental for the success of TA provided by METAC.
This partnership enhances coordination toward joint objectives which in turn improves further the effectiveness of TA provided by donors as well as by METAC.
Coordination is also important for integrating TA provided by different sources within a coherent development framework
Improved capacity to design and implement sound macroeconomic policies
Improved macro stability, PFM systems, and financial governance
Effective and transparent use of resources / budget support
Higher revenues Growth oriented financial systems Regional economic integration Better economic data
METAC Results
METAC Main Achievements
Central banks in Syria and Libya have established a banking supervision framework in line with international best practices.
Credit registry in West Bank and Gaza was successfully implemented.
A new inspection manual for the Central Bank of Jordan and the Central Bank of Libya was developed.
METAC Main Achievements
A new budget classification based on the Government Finance Statistics Manual 2001 (GFSM 2001) began to be implemented in Sudan.
A cash management unit was established at the ministries of finances of Lebanon and the West Bank and Gaza.
A Treasury Single Account (TSA) was established at the Bank of Sudan and the Central Bank of Jordan, but more work needs to be done.
METAC Main Achievements
Tax administration reorganization to improve effectiveness, particularly with respect to strengthened headquarters functions – Egypt, Jordan, Sudan, and Yemen, with work in progress in Syria
Development and expansion of taxpayer segmentation concepts, initially through establishment of a large taxpayer office and subsequent steps to strengthen medium and small taxpayer administration – Egypt, Jordan, Syria, Sudan, and Yemen
Strengthening the concepts of self-assessment and risk management, including supporting practical measures such as audit case selection techniques – Jordan, Lebanon, Sudan, Syria, and Yemen
Strengthened legislation frameworks, particularly streamlined and harmonized tax procedure codes, and improved or new VAT and small business regimes – Egypt, Jordan, Lebanon, and Syria
METAC Main Achievements
Lebanon launched a new All-Lebanon monthly consumer price index (CPI)
Jordan began compiling and disseminating external debt statistics in line with the international statistical methodology
Survey-based programs for compiling foreign direct investment (FDI) statistics were developed in Egypt, Lebanon, and West Bank and Gaza
Work was completed for an improved CPI for Sudan.Syria joined the IMF’s General Data Dissemination System (GDDS)
METAC Main Achievements
Development of the internal audit functions of the Central bank of Iraq and the Central Bank of Syria.
Risk based Internal Audit was established in the Palestine Monetary authority.
A study on the implementation of International Bank Account Numbering System (IBAN) was completed in Syria and Lebanon and Lebanon has started the implementation.
A draft IFRS based Accounting Policy Document was prepared by METAC to be used as a basis for formal central banks Accounting Policies.
METAC Evaluation An independent external evaluation was finalized in October
2009
The overall conclusion of the evaluation is that METAC has been delivering TA services that are generally effective and
highly appreciated by beneficiary countries.The strengths of METAC are a firm rooting in the IMF’s well
established procedures and quality control, a strong regional base, and a network of experts able to work effectively in the region
including in Arabic. In addition, the evaluation found that METAC is responsive to country needs, and its activities are strongly
integrated with and complementary to IMF priorities. METAC is a principal supplier of TA in the region in many of its technical areas.
Its regional presence and link to the quality control and supervision activities of the IMF provides it with a comparative
advantage
METAC Funding
Lebanon, which in addition to a large financial contribution, finances the Center’s office facilities and local staff
• Egypt• Jordan• Libya• Syria• Sudan• Yemen
• EC• EIB• France• Japan• Kuwait• Oman
In addition to the Fund, the Center is financed by the host country and other recipient countries of METAC’s TA as well as bilateral and
multilateral donors:
METAC’s Phase III Financing
• The budget for Phase III, May 2010-April 2015, is estimated at $33 million.
• Of this budget, Lebanon as the host country and the IMF would cover $6.5 million (not including Lebanon’s financial contribution).
• The remaining $26.5 million are to be covered by donors.
• A doubling of the contribution of donors and member countries would keep their contributions at broadly the same level in real terms because METAC’s funding cycle will be extended from 3 to 5 years.