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TSA, and commitment control. In addition, a study tour to benefit from the successful PFM
experience in other countries would be organized.
METAC will strengthen further its
coordination with other TA
providers, in particular in
countries with large donor
presence. Collaboration will be
enhanced further with the United
States Agency for International
Development (USAID) in Egypt
and Jordan; the EC in Egypt and
Syria; the World Bank in
Lebanon, Syria, and Yemen; and
DfID in Yemen and West Bank
and Gaza trough regular contacts
and sharing of TA reports,
following the adoption of the IMF
new dissemination policy. The strong cooperation already established in Afghanistan, Egypt,
Jordan, Lebanon, Syria, and Yemen will be deepened and extended to other countries.
Coordination with FAD will be strengthened further in the context of the systemic approach
developed in FY2010 with a view of clarifying the role of each TA provider and avoiding
duplication.
E. Debt Management and Money Markets Development
A resident expert in the area of debt management and money market development will replace
the departing resident advisor on Central Bank Accounting and Internal Audit after discussions
with member countries and the IMF. Demand for improving public debt management and
developing public debt markets are important for METAC members.
The principal components of sound debt management in many countries are based on the
importance of having clear debt management objectives, proper coordination between debt
management and monetary and fiscal policy, a prudent risk management
framework, an effective institutional framework, and a strong
operational capacity enabling efficient funding and sound risk
management practices. Accordingly, the resident advisor will
assist member countries in:
Developing plans to improve the functioning of the
primary markets including primary issuance techniques
(for capital and money markets);
Improving liquidity in the secondary markets for
government debt and secondary market design
including instruments, regulation, and market
infrastructure;