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

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 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.