Project profile — 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
Closed
Global Affairs Canada
NGM Americas

Country / region 

• Panama (14.00%)
• Dominican Republic (14.00%)
• Guatemala (15.00%)
• Costa Rica (14.00%)
• El Salvador (15.00%)
• Honduras (14.00%)
• Nicaragua (14.00%)

Sector 

• Public finance management:
Public finance management (15111) (25.00%)
Domestic Revenue Mobilisation (15114) (25.00%)
• Other Social Infrastructure And Services: Statistical capacity building (16062) (20.00%)
• Financial policy and administrative management:
Financial policy and administrative management (24010) (20.00%)
Monetary institutions (24020) (10.00%)

Policy marker 

• Gender equality (not targeted)
• Environmental sustainability (cross-cutting) (not targeted)
• Participatory development and good governance (significant objective)
• Trade development (significant objective)
• Biodiversity (not targeted)
• Climate change mitigation (not targeted)
• Climate Change Adaptation (not targeted)
• Urban issues (not targeted)
• Desertification (not targeted)
• Children's issues (not targeted)
• Youth Issues (not targeted)
• Indigenous Issues (not targeted)
• Disability (not targeted)
• ICT as a tool for development (not targeted)

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.

Budget and spending 


Original budget $0
Planned disbursement $0
Transactions
Country percentages by sector
Type of finance Aid grant excluding debt reorganisation
Collaboration type Bilateral
Type of aid Contributions to specific-purpose programmes and funds managed by implementing partners
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