Technical Assistance Reports
2024
August 23, 2024
Sri Lanka: Technical Assistance Report-Repeal of Simplified Value Added Tax and the Transition to Risk-Based Value Added Tax Refund Processing
Description: This report summarizes an expert visit on VAT refunds that provided Inland Revenue Department officials with examples of good international practice in VAT refund management and risk management.
August 16, 2024
Republic of Uzbekistan: Technical Assistance Report-Report on National Accounts Mission (July 24–August 4, 2023)
Description: A technical assistance mission assisted the Statistics Agency under the President of the Republic of Uzbekistan (SA) in conducting a major revision of national accounts time series. Based on the results of the 2023 survey on non-observed economy (NOE) in hotels, restaurants, and other services, the 2024 major revision increases the nominal GDP for 2017–2023 in the range of 10–12 percent. The mission reviewed the results of the 2024 major revision and provided recommendations for improvement before their publication. These improvements to data and methods will improve the understanding of the Uzbekistan economy, both for domestic policymaking and international surveillance.
August 16, 2024
Republic of Uzbekistan: Technical Assistance Report-Report on National Accounts Mission (April 8-12, 2024)
Description: A technical assistance mission assisted the Statistics Agency under the President of the Republic of Uzbekistan (SA) in conducting a major revision of national accounts time series. Based on the results of the 2023 survey on non-observed economy (NOE) in hotels, restaurants, and other services, the 2024 major revision increases the nominal GDP for 2017–2023 in the range of 10–12 percent. The mission reviewed the results of the 2024 major revision and provided recommendations for improvement before their publication. These improvements to data and methods will improve the understanding of the Uzbekistan economy, both for domestic policymaking and international surveillance.
August 16, 2024
Republic of Palau: Technical Assistance Report-Managing Government Employment and Compensation-Update
Description: Upon the authorities’ request, the IMF’s Fiscal Affairs Department provided technical assistance to Palau on implementing the recommendations of the technical report produced by the November 2023 mission on government compensation and employment. The creation of the Employment and Compensation Committee (ECC) demonstrated the authorities’ commitment to reform and the mission supports the authorities’ proposal to reorganize the ECC into a Steering Committee and a Working Group. Before awarding pay increases to address issues of recruitment and retention, the government needs to assess its fiscal space and determine its expenditure priorities. The importance of systematically and prominently advertising vacancies online cannot be overstated. Human resource laws and regulations are generally fit for purpose, but current practices governing new position creation and recruitment merit review by the ECC with support from FAD.
August 14, 2024
Republic of Armenia: Technical Assistance Report-Tax Compliance and Crypto Assets
Description: Armenia has committed to the adoption of the OECD’s Crypto-Asset Reporting Framework. To give effect it will need to enact legislation. An eight-step roadmap for implementation was developed. It sets out each activity, assigns responsibilities and sets timelines.
August 9, 2024
Solomon Islands: Technical Assistance Report-Central Bank Risk Management
Description: This report provides an overview of the assistance provided by the IMF to the Central Bank of Solomon Islands on enhancing its risk management in line with international best practices for central banks.
August 9, 2024
Samoa: Technical Assistance Report-Central Bank Risk Management
Description: This report provides an overview of the assistance provided by the IMF to the Central Bank of Samoa on enhancing its risk management in line with international best practices for central banks.
August 9, 2024
Seychelles: Technical Assistance Report-Central Bank Strategic Planning
Description: This report provides an overview of the assistance provided by the IMF to the Central Bank of the Seychelles in reviewing and updating its strategic plan, in line with international best practices for central banks.
August 7, 2024
Kenya: Technical Assistance Report-Improving the Business Surveys and the Nowcasting Framework at the Central Bank of Kenya
Description: At the request of the Central Bank of Kenya (CBK), a technical assistance (TA) mission from the Monetary and Capital Markets (MCM) department visited Nairobi, Kenya, from April 17–21, 2023, to help improve the CBK’s Forecasting and Policy Analysis System (FPAS). The main objectives were to improve the CBK’s business surveys and strengthen its nowcasting framework for GDP and CPI inflation. The mission held interactive technical sessions with CBK staff and provided detailed recommendations for refining survey questions and integrating survey results into the policy process. It developed EViews programs for efficient survey data management and the conversion of qualitative data to quantitative data using the Balance of Opinion approach. Moreover, the mission improved the nowcasting framework by fixing and enhancing the EViews-based platform and developing tools for automated model evaluation. Regarding CBK business surveys, the mission recommended (i) streamlining survey questions and timing to better inform nowcasts and projections, (ii) creating a firm registry to track survey respondents and ensure sample representativeness, and (iii) automating the survey data pipeline and consolidating historical results into a time series. Regarding the nowcasting framework, the mission suggested (i) integrating quantified survey results into the nowcasting models, (ii) continuing to refine the nowcasting framework at a disaggregated level, and (iii) expanding the database of leading indicators and assessing new models using the forecast evaluation framework.
August 2, 2024
Saint Kitts and Nevis: Technical Assistance Report-Report on Improving Estimates of Gross Domestic Product Mission (June 5–16, 2023)
Description: A CARTAC National Accounts technical assistance mission to St Kitts and Nevis, re-referenced the volume estimates of quarterly GDP for the years 2012–2022 using 2018 as the base and reference year from the previous 2006 base year. The series were developed for both Saint Kitts and for Nevis and a combined series for the Federal aggregate. The re-referencing exercise provided an opportunity to introduce some other improvements. Notably, the calculation of Final Intermediation Services Indirectly Measured (FISIM) consumed by each economic sector businesses and its allocation to economic activities. The updated series were also prepared using the International Standard Industrial Classification of Economic Activity (ISIC) revision 4 . These improvements align the updated GDP series with the standards set out in the 2008 System of National Accounts. In addition, the current price estimates of GDP by expenditure were also reviewed.