Technical Assistance Reports
2024
May 3, 2024
Cambodia: Technical Assistance Report-Report on Residential Property Price Index (RPPI) Mission
Description: 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 mission completed the following tasks: (i) undertook a review of the methods used for the RPPI (ii) identified areas for improvement consistent with international best practice, (iii) provided practical training to staff in the NBC, (iv) assessed the suitability of the template used for data collection from the commercial banks, and (v) analyzed the potential for accessing and using more comprehensive data sources.
April 29, 2024
Barbados: Technical Assistance Report-Financial Stability Report
Description: 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 FSR production plan is critical and has the potential to facilitate improvements and synergies among various experts involved in the report’s production. The preparation of a communication plan for the report is another essential step that needs to be taken by the CBB and FSC. The broader macroeconomic context and a more forward-looking perspective should be reflected in the FSR, which needs to be streamlined to follow the central risk story with key messages that are clear and easy to understand to readers with limited knowledge of the financial system in Barbados. The report should reflect all important elements of financial stability assessment, such as the regulatory framework and the analysis of the real sector. The quality of the FSR could be further enhanced through advancements in the financial stability analytical toolkit. Finally, the mission reviewed and provided recommendations on the use of existing as well as potential new data sources that should be fully utilized for financial stability purposes.
April 26, 2024
Bosnia and Herzegovina-Republika Srpska: Technical Assistance Report –Public Investment Management Assessment (PIMA)
Description: 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 design, and continued strong and consistent reform efforts will be important to eliminate remaining obstacles to efficient public investment. Many of these reforms are already underway or planned.
April 26, 2024
Cabo Verde: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA)
Description: 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, coordination with municipalities and in planning for disaster risk financing. But coordination across the central government is weak with no institution positioned strategically to lead either adaptation or mitigation related investments. The regulatory and oversight framework for public enterprise (PEs) does not promote consistency between their climate-related investments and national climate policies while PEs are the main driver of public investment in Cabo Verde. The Public-Private Partnership (PPP) framework does not define how climate risks are allocated between the government and PPP partners, while the use of PPP is increasing. Investment project appraisal and selection practices do not exist. Climate-responsive spending in infrastructure is at a concept development stage but gender budgeting is a well-recognised practice. Ex post reviews or external audits of projects on climate outcomes are not conducted and climate impact is not integrated into public asset management. On these grounds, this report makes seven high-priority recommendations which could improve climate-related public investment management in Cabo Verde and support green and sustainable economic growth. In addition, the C-PIMA report informed the design of the reform measures for a recently approved Arrangement Under the Resilience and Sustainability Facility.
April 22, 2024
Botswana: Technical Assistance Report-Report on the Price Statistics Mission
Description: 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 index coverage to include owner-occupied housing using the rental equivalence approach is also addressed.
April 15, 2024
South Africa: Technical Assistance Report-Fiscal Transparency Evaluation
Description: 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 fiscal risk analysis. There is room to improve South Africa’s fiscal reporting, budget transparency and management of fiscal risks.
April 5, 2024
Kingdom of Eswatini: Technical Assistance Report-Financial Sector Stability Review
Description: 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 areas agreed with the country authorities: financial stability and systemic risk monitoring, macroprudential frameworks and tools; crisis management and financial safety net; and supervision and regulation of banks, nonbank deposit-taking institutions, insurance, and retirement funds. The financial sector statistics module focused on key gaps in monetary and financial statistics and financial soundness indicators that hamper financial stability analysis.
April 2, 2024
Arab Republic of Egypt: Technical Assistance Report-Public Investment Management Assessment
Description: This report assesses the institutional design and effectiveness of public investment management (PIM) in Egypt. The report concludes that effectiveness is stronger than or on par with comparators for national planning and inter-governmental coordination, and weaker than the average comparator country on several other PIM institutions. Improvements in PIM will be important to close efficiency gaps and enhance the productivity of future public investments. Egypt’s Government has already taken several steps to improve the access to infrastructure and quality of public investment management, including through new legislation, new information systems and significant efforts to enhance staff capacities. The report provides five main recommendations for how these reform steps can be strengthened, sustained and further extended: 1) Strengthen project appraisal and selection processes; 2) Enable private sector involvement in public infrastructure provision: 3) Operationalize PFM law provisions for medium-term budgeting; 4) Strengthen asset management and ensure sufficient maintenance; and 5) Strengthen procurement, project and portfolio management.
April 2, 2024
Arab Republic of Egypt: Technical Assistance Report-Climate Public Investment Management Assessment
Description: This report finds that Egypt has implemented important improvements in climate-aware planning and coordination across the public sector, and some initial steps to reflect climate change issues in appraisal and selection of investment projects, but that significant work remains. So far there has been limited progress in ensuring that budgeting, portfolio management and fiscal risk management is climate sensitive. In addition, many of the weaknesses in the overall framework for public investment described in a separate report, also undermine the capacities for climate-sensitive public investment management. The mission makes three main recommendations to address current weaknesses and further improve the climate change awareness of public investment management: 1) Integrate national climate strategies and objectives for both climate change adaptation and mitigation in national, sectoral, construction and spatial planning processes; 2) Reflect climate change considerations in project selection, budgeting, and portfolio management decisions; 3) Strengthen management of climate-related fiscal risks.
March 29, 2024
Republic of Palau: Technical Assistance Report-Managing Government Employment and Compensation
Description: Upon the authorities’ request, the IMF’s Fiscal Affairs Department provided technical assistance to Palau on reforming government employment and compensation policies. Palau is facing significant challenges in recruiting and retaining qualified staff for essential public services due to emigration. The government's compensation structure has become increasingly compressed, making it difficult to recruit and retain skilled workers, particularly in the health and education sectors. The mission suggested that targeted pay increases, subject to available fiscal space, could alleviate these issues. Additionally, innovative approaches, such as merging some state government functions with the national government and facilitating the recruitment of foreign workers, could improve public service delivery efficiency. The recent establishment of the Employment and Compensation Committee (ECC) marks a significant step towards the necessary development of a medium-term strategy to address these challenges.