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Box 1. METAC NOTABLE ACHIEVEMENTS
Banking Supervision
METAC assisted in improving the quality of bank examiners by conducting a number of
workshops and hands-on training in most member countries: Iraq, Jordan, Lebanon, Sudan, Syria,
and Yemen.
The most notable achievement was the development of credit scores in the West Bank and Gaza as
part of the credit registry. This is the first registry in the region and one of only a few worldwide
(refer to Box 2).
Statistics
Libya: An “All Libya” consumer price index (CPI) index is now operational, replacing the Tripoli
only index. METAC assisted in the development of the initial weighting scheme for the PPI, and in
the selection of a sample of establishments for price collection.
Syria has recently completed the International Investment Position (IIP) for 2007 and 2008,
improved the international reserves compilation practices, and compiled external debt data largely
consistent with the internationally accepted methodology.
West Bank and Gaza is very close to completing the producer price index (PPI).
In Yemen, METAC assisted the Central Statistical Office (CSO) in correcting a serious
shortcoming in the calculation of the CPI index, which brings TA in this area to a close. METAC
also assisted in setting the base for developing the PPI, which should be ready for publication in
2011. METAC also identified weaknesses and inconsistencies in the GDP series in current and
constant prices, and provided advice on how to revise the economic surveys and their results to
enhance the accuracy, reliability and the coverage of the GDP estimates.
Revenue Administration
Sudan and Yemen: The organizational arrangements at the tax administration headquarters have
been amended for better efficiency.
Syria: The General Commission for Taxes and Fees (GCTF) was established, and most processes
have been re-engineered and automated within the interim IT solution. Also, the preparations for
the launching of the pilot Damascus Medium Taxpayers Office (MTO) are being finalized.
Public Financial Management
Afghanistan: Daily cash availability statements and monthly cash projections are supplied to the
budget and treasury departments.
Egypt: The accounting network (40,000 accounting units) has been dramatically tightened to
implement the Treasury Single Account (TSA).
Syria: Capital expenditures’ management was transferred from the State Planning Commission to
the Ministry of Finance and the related Organic Law amendment operated in 2009 has been
effectively implemented in FY2010.
Central Bank Accounting (see Box 3).