Project profile — Central America, Panama, Dominican Republic Regional Technial Assistance Centre (CAPTAC-DR) II

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Overview

Overview

Central America, Panama, Dominican Republic Regional Technial Assistance Centre (CAPTAC-DR) II - Overview
CA-3-D000916001
$10,000,000
IMF – International Monetary Fund
2015-08-25 - 2020-06-01
Operational
Country / region • El Salvador (15.00%)
• Nicaragua (14.00%)
• Guatemala (15.00%)
• Dominican Republic (14.00%)
• Panama (14.00%)
• Honduras (14.00%)
• Costa Rica (14.00%)
Sector • Government And Civil Society, General
Public finance management (15111) (25.00%)
• Government And Civil Society, General
Domestic Revenue Mobilisation (15114) (25.00%)
• Other Social Infrastructure And Services
Statistical capacity building (16062) (20.00%)
• Banking And Financial Services
Financial policy and administrative management (24010) (20.00%)
• Banking And Financial Services
Monetary institutions (24020) (10.00%)
Policy marker • Participatory development and good governance (significant objective)
• Trade development (significant objective)
• Reproductive, Maternal, Newborn and Child Health (RMNCH) (not targeted)
Description and results

Description

The project aims to facilitate economic growth in the Central America, Panama and Dominican Republic Regional Technical Assistance Center’s (CAPTAC-DR) member countries, by strengthening the national and regional public institutions’ economic, financial, and statistical management capacities. The Center’s seven member countries are Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. CAPTAC-DR responds to requests from the governments of member countries for macroeconomic technical assistance and training in areas such as, central banking, monetary and exchange rate policy, tax policy and administration, customs policy and administration, and financial statistics. Assistance is delivered through diagnostic and technical missions, regional workshops, and policy and program development support. Project activities include: (1) modernizing tax and customs administrations to increase revenue and facilitate trade; (2) strengthening public financial management systems to support the formulation of an efficient and sustainable public expenditure policy; (3) strengthening the regulation and supervision of the financial sector; (4) strengthening monetary frameworks to keep inflation low and stable; and (5) improving economic statistics to facilitate the decision-making process.

Expected results

The expected outcomes for this project include: (1) enhanced adoption of international best practices in financial regulation and supervision; (2) strengthened tax administrations in the region; (3) strengthened customs administrations in the region; (4) strengthened medium-term budgetary process, government accounting, and treasury management; (5) improved ability to conduct monetary and financial policies; (6) improved quality of external sector statistics; and (7) improved quality of national accounts and price statistics.

Results achieved

Results achieved as of March 2019 include: (1) technical assistance to help countries strengthen core customs capacities to facilitate trade and utilize tax information to reduce evasion was delivered; (2) improved custom processes to strengthen traceability control, predictability and transparency, resulting in stronger customs revenue and faster entry of goods; (3) technical assistance to assist countries in updating the base year of national accounts to 2017-2018 in order to obtain a more accurate representation of the structure of the economy was delivered; (4) regional and bilateral training events with a record participation of over 1,000 officials (of which 47% were women) was delivered; (5) training on best practices related to the supervision of credit, market, liquidity and operational risks in five countries to improve banking supervision capacity was delivered; and (6) improved medium-term budget processes and fiscal projections in public financial management.

Financials

Financials


Original budget $0
Planned Disbursement $0
Transactions
Country Percentages by Sector
Related information

Related information

Central America, Panama, Dominican Republic Regional Technial Assistance Centre (CAPTAC-DR) II - Related information
Related links
Partner website — IMF – International Monetary Fund
Global Affairs Canada
NGM Americas
Aid grant excluding debt reorganisation
Bilateral
Contributions to specific-purpose programmes and funds managed by international organisations (multilateral, INGO)
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