## Japan‑IMF Partnership on Capacity Development Annual Report 2021

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### Introduction and background
- COVID-19 caused unprecedented economic and social damages, with developing countries especially severely affected and some development gains reversed.
- The global economy is recovering, but the pace is uneven and near- and medium-term prospects remain highly uncertain.
- IMF Capacity Development (CD) is critically important during recovery, providing remote and in-person CD to meet countries’ urgent needs.
- Japan contributed $10 million to the newly launched IMF COVID-19 Crisis Capacity Development Initiative with a particular focus on debt management.
- Japan provided a new contribution of $44 million in fiscal year 2021 (FY2021), of which $38 million financed a large portfolio of 26 bilateral programs.
- The Government of Japan continues to support IMF CD activities.

### Japan‑IMF partnership — key facts and figures
- Total Japan contributions to the IMF since FY1990: $730 million.
- More than 100 IMF member countries have benefited from Japan-funded CD activities.
- Since 2017, Japan has supported IMF online learning development and delivery; in 2021 Japan contributed $10 million to the COVID-19 Crisis Capacity Development Initiative.
- FY2021 new contribution from Japan: $44 million.
  - Of this $44 million, $38 million financed a portfolio of 26 bilateral programs.
  - The remaining $6 million supports two scholarship programs (JISPA and JISP) and the IMF’s Regional Office for Asia and the Pacific (OAP).
- In the period FY2017–21, Japan accounted for 18 percent of external partner contributions for IMF CD.
- Japan supports multi-partner thematic initiatives including AML/CFT, TADAT, the Revenue Mobilization Thematic Fund, and the Data for Decisions (D4D) Fund.
- Japan supports IMF online courses (IMFx) and CD programs implemented through CDOT (Thailand) and STI (Singapore).

### IMF capacity development — scope, delivery, and COVID-19 response
- CD comprises hands-on technical assistance (TA) and training to help countries build effective economic institutions and implement effective policies; CD contributes to progress toward the SDGs.
- CD is fully integrated with IMF lending and surveillance; CD accounts for about one-third of IMF spending.
- Delivery modalities include remote and in-person visits; long-term resident advisors; a network of regional CD centers; virtual and face-to-face training; and free online learning courses.
- During the COVID-19 pandemic:
  - Immediate and real-time policy advice and CD were provided virtually to 160 countries on topics including debt sustainability frameworks, fiscal transparency, direct cash transfers, and fiscal policy for inclusive growth.
  - IMF online learning grew rapidly to more than 110,000 active learners.
  - A new Regional Capacity Development Center opened virtually in February 2021 for the Caucasus, Central Asia and Mongolia.
- The IMF launched the COVID-19 Crisis CD Initiative with the objective to raise $100 million; external donors have pledged more than 1/3rd of this amount.

### Japan’s contributions — detailed figures (amounts in millions of U.S. dollars)
- Japan’s Contributions (FY1990–2016 / FY2017 / FY2018 / FY2019 / FY2020 / FY2021 / Total FY1990–2021): 558.4 / 28.9 / 33.7 / 30.4 / 33.7 / 44.3 / 729.5
- of which Capacity Development: 449.9 / 23.8 / 27.9 / 25.5 / 28.6 / 38.3 / 594.1
- of which, COVID-19 Initiative Window: -----10.0 10.0
- Regional Office for Asia and the Pacific: 30.8 / 1.7 / 2.1 / 2.0 / 2.1 / 2.2 / 41.1
- Scholarships: 77.6 / 3.4 / 3.7 / 2.9 / 3.0 / 3.8 / 94.3
- The Japan-IMF Scholarship Program for Asia: 51.2 / 2.5 / 2.8 / 2.4 / 2.4 / 3.0 / 64.3
- Japan-IMF Scholarship Program for Advanced Studies: 26.4 / 0.9 / 0.8 / 0.5 / 0.6 / 0.8 / 30.0
- FY2021 contributions to multi-partner vehicles (in millions of U.S. dollars):
  - Total FY2021 contributions to multi-partner vehicles: 2.9
  - Anti-Money Laundering and Combating the Financing of Terrorism Subaccount (AML/CFT) - Phase III: 0.4
  - Data for Decisions Fund Subaccount (D4D): 1.0
  - Externally Financed Appointee Subaccount (EFA) - Cohort III: 1.0
  - Tax Administration Diagnostic Assessment Tool Subaccount (TADAT) - Phase II: 0.5
- Japan participates in the joint IMF-World Bank Debt Management Facility (DMF) with a $0.5 million contribution through the World Bank.

### IMFx on Inclusive Growth — launch and reach
- Launched on May 26, 2021; financed by the Government of Japan.
- Inaugural offering: an eight-week Massive Open Online Course (MOOC), freely available to government officials and the general public; course development involved over ten economists and a large team of technical experts and consists of six modules.
- At launch:
  - Over 1,500 members of the general public registered.
  - Nearly 450 government officials registered.
  - The promotional video had over 100,000 views.
- Course content covers fiscal policy, labor markets, gender, technology, governance and corruption, and climate change; topical modules to be offered as independent learning modules with videos hosted on the IMF Institute Learning Channel on YouTube and included in the IMF Summer School.

---

### Box 3 — Virtual Technical Assistance to the State Bank of Vietnam (SBV)
- Context and timing:
  - IMF mission travel was suspended due to COVID-19.
  - Virtual TA to the SBV was delivered starting from February 2020.
- Delivery modalities:
  - STI-led mission team split work into multiple virtual TA missions; regular VTC calls with SBV core group; MPAFx combined with VTC calls; virtual training on adapting an IMF pandemic-impact toolbox to Vietnam data.
- Technical focus:
  - Core TA: developing a forecasting and policy analysis system (FPAS) at the SBV.
  - Discussions on the nature of the shocks (COVID-19) and implications for monetary policy decision-making.
  - Pandemic-impact toolbox training focused on sectoral-level GDP impact assessment during lockdowns.
- Key operational findings and benefits:
  - Combining MPAFx online materials with VTC calls proved efficient for theoretical and practical questions.
  - Virtual TA enabled continued progress in early implementation of FPAS despite travel suspension.
  - Adapting the pandemic-impact toolbox supported sectoral GDP impact assessment during lockdowns.

### Box 12 — Improving External Sector Statistics (ESS) in the Asia‑Pacific Region
- Workshop overview:
  - A three-day CDOT-SARTTAC remote intermediate level training on Recording COVID-19 Related Transactions in Analytical Balance of Payments: Compilation Challenges delivered in July 2020.
  - Objective: enhance capabilities to compile a reliable analytical balance of payments presentation and to understand its role for crisis analysis and policy response.
- Participation and logistics:
  - Attendance: more than 60 participants.
  - Participant composition: from six SARTTAC and eight ESS CDOT countries.
  - Countries using collective room connections with 3–10 people: Cambodia, Lao P.D.R., Myanmar, Papua New Guinea, Samoa, and Timor-Leste.
- Participant feedback and lessons learned:
  - Participants adjusted well to remote mode and commended the interactive delivery.
  - Advance provision of all training materials and access to recordings were deemed essential.
- Key statistics:
  - Duration: three-day training.
  - Date: July 2020.
  - Attendance: more than 60 participants.
  - Country groupings represented: six SARTTAC countries and eight ESS CDOT countries.

---

### ANNEX I — FY2021 portfolio highlights and selected program financials (amounts in millions of U.S. dollars)
- Selected program-level financial figures (Overall Program Budget / Approved Budget through FY2021 / Expenses through FY2021):
  - FAD_APD_2021_03 (JPN129) — Supporting for Improved Treasury Management and Modernization of Financial Systems - II: 5.0 / 1.6 / 0.9
  - FAD_IMF_2021_03 (JPN130) — Strengthening and Modernizing Customs Administration in Asia and West Africa: 8.5 / 2.7 / 1.1
  - ICD_IMF_2021_02 (JPN206) — The Japan-IMF Flagship Partnership on Online Learning: 7.4 / 1.7 / 1.6
  - MCM_APD_2021_01 (JPN420) — Strengthening Debt Management Operational Frameworks in Asia-Pacific: 4.4 / 1.5 / 0.1
  - MCM_AFR_2021_02 (JPN421) — Strengthening Debt Management Operational Frameworks in Africa: 3.7 / 1.2 / 0.5
  - STA_IMF_2021_01 (JPN508) — Improving Data Dissemination for Globally Selected Countries: 1.3 / 0.4 / 0.0
  - FAD_APD_2021_04 (Seminar) — Twelfth IMF - Japan High Level Tax Conference for Asian Countries in Tokyo: 0.2 / 0.2 / 0.0
- Historical program budgets and cumulative expenses are reported for FY2020, FY2019, FY2018, FY2017, FY2016, FY2012 cohorts.

### Supporting Improved Treasury Management and Modernization of Financial Management Systems II (JPN129)
- Target countries: Cambodia, Lao P.D.R., Myanmar, and Vietnam (CLMV).
- Implementation period: from May 2020 to April 2023.
- Program focus: modernizing Chart of Accounts (CoA), improving public accounting and fiscal reporting, strengthening internal audit (IA), and enhancing cash management.
- COVID-19 delivery: remote missions, virtual workshops, webinars; regional Treasury Advisor in CDOT central to achievements.
- Country progress highlights:
  - Cambodia: public accounts based on cash basis IPSAS generated; roadmap for Phase 2 Modified Cash Basis tied to Draft Strategy for accruals implementation developed; IT-based IA work advanced.
  - Lao P.D.R.: Phase II CoA modernization continued; peripatetic expert funded; tentative new economic classification produced.
  - Myanmar: extensive CoA review before CD halt; administrative classification near-final and economic classification advanced; IA Manual under extensive review; COVID-19 expenditure recording and reporting formats developed; Cash Planning model and three COVID-19 response notes produced; PFM Academy lectures attended by 105 ministry staff.
  - Vietnam: post-State Treasury reform strategy 2021–30 activities on cash management, IA, CoA and business process reengineering, and debt recording and reporting; IA sessions led to planned pilot IA.

### Strengthening and Modernizing Customs Administration in Asia and West Africa (JPN130)
- Target countries: Cambodia, Lao P.D.R., Mongolia, Myanmar, Benin, Côte d’Ivoire, Guinea, Guinea-Bissau, Liberia, Nigeria, Sierra Leone, and Togo.
- Implementation period: from May 2020 to April 2023.
- Objective: enhance customs capacity to collect revenue and control revenue leakage through organizational reform, procedural improvements, and application of rule of law without impeding trade.
- COVID-19 adjustments: desk diagnostics, reprioritization of planned activities, remote CD delivery.
- Regional outcomes:
  - Asia: remote support to all recipients except Myanmar (suspended); Cambodia and Mongolia updated strategic plans and initiated law revision and business process reengineering; Mongolia prioritized organizational and compliance risk management and began customs laboratory and post-clearance audit work; Lao P.D.R. faced technological challenges but began preparatory work on composite revenue mobilization plan; Regional LTX recruited in August 2021 and operates remotely.
  - West Africa: remote trade-data analysis advanced for non-compliance risk targeting (Benin, Côte d’Ivoire, Sierra Leone, Togo); Côte d’Ivoire submitted a digitalization plan in February 2021; Nigeria initiated development of an E-Customs project; Liberia and Togo completed inventories of import duty exemptions; Guinea-Bissau prepared a draft Customs Code in November 2020 expected to be submitted to parliament; Guinea and Nigeria updated modernization plans and short-term trade revenue reforms.

### Twelfth IMF–Japan High‑Level Tax Conference for Asian Countries (FAD_APD_2021_04)
- Target countries: 22 countries in East, Southeast, and South Asia and Oceania.
- Implementation period: from May 2020 to April 2022.
- Objective: help Asian countries enhance revenue mobilization strategies amid COVID-19 challenges.
- Event originally planned for April 2021; delayed to April 2022 due to the pandemic.

### The Japan‑IMF Flagship Partnership on Online Learning (JPN206)
- Target countries: Global program.
- Implementation period: from May 2020 to April 2023.
- Key outcomes and metrics (FY2021):
  - Since 2013: over 112,000 learners registered and more than 31,000 government officials completed an IMFx.
  - FY2021 engagement: nearly 24,000 actively engaged learners and over 4,600 government officials successfully completed an IMFx; about 15 percent of these government officials are from low income countries and 16 percent are from fragile and conflict-affected states.
  - New launches in FY2021: six new MOOCs (GFSx, BOPx, LIC DSFx, MTDSx, DIGx, VITARA – Part I) and six course translations (including MDSx in French, PSDSx in French and Spanish).
  - Course delivery: 41 course re-runs offered.
  - Performance metrics: average completion rate 50 percent overall and 68 percent for government officials; average learning gains about 20 percentage points across courses, with debt courses recording 28 percent average learning gains; satisfaction rating: 94 percent of survey respondents agree the course enhanced understanding.
  - Microlearning initiative: IMF Institute Learning Channel on YouTube gained over 4,980 subscribers and over 243,000 individual views since April 2020.
  - Blended CD examples: remote Maintaining Financial Stability course at STI used MDSx videos; FPP.2x materials used in Financial Programming and Policies; Debt Sustainability Analysis workshop used flipped-classroom with microlearning; Monetary Policy Analysis and Forecasting delivery at JVI used MPAFx plus pre-recorded lectures and workshops.
  - Strategic priority: adopt flexible, modular content enabling personalized learning paths.

### Strengthening Debt Management Operational Frameworks (JPN421 / JPN420)
- JPN421 (MCM_AFR_2021_02)
  - Target countries: Benin, Burkina Faso, Côte d’Ivoire, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Senegal, Togo, Equatorial Guinea, Gabon, Botswana, Eswatini, and Namibia.
  - Implementation period: from May 2020 to April 2023.
  - FY2021 remote delivery impacts:
    - Improved capacity to prepare annual borrowing plans consistent with chosen debt strategy and cash management coordination.
    - Guidance on sovereign debt management actions to address COVID-19 challenges.
    - Legal framework review for Guinea’s domestic government securities market and medium-term reform plan drafting.
    - Strengthened MTDS and annual borrowing plan preparation (Togo, Mali, Niger, Guinea).
    - Improved management of guaranteed debt, contingent liabilities, and debt–cash flow coordination (Burkina Faso).
    - Strengthened risk analysis, debt portfolio management, and debt audit (Mali and Benin).
- JPN420 (MCM_APD_2021_01)
  - Target countries: PFTAC member countries and Southeast Asian countries including Indonesia, Malaysia, Philippines, and Thailand.
  - Implementation period: from May 2020 to April 2024.
  - FY2021 activities and constraints:
    - Two activities: joint IMF-World Bank virtual mission to Solomon Islands (Feb–Mar 2021) to support DMS development and MTDS AT training; virtual mission to the Philippines (Feb 2021) to enhance DMS production and evaluate financing sources.
    - Recommendations included consolidating debt management institutional structure, legal framework revisions to require formal DMS approval, revision of bilateral loans under LIBOR/EURIBOR terms, dynamic FX risk management, and retail finance program sound practice revisions.
    - Activity reduction reasons: LTX placement delays, COVID-19 travel restrictions, countries’ preoccupation with economic shock, low remote engagement, and HQ backstopping timing differences.
    - A one-year extension to the project implementation period was granted by JSA; LTX onboarded at PFTAC in March 2021.

### Improving Data Dissemination for Globally Selected Countries (JPN508)
- Target countries: Comoros, Guinea-Bissau, Palau (all e-GDDS), and Uzbekistan (SDDS).
- Implementation period: from May 2020 to April 2023.
- Objectives: technical support to 15 countries (from 45 eligible) to enhance data dissemination under IMF’s Data Standards Initiatives (e-GDDS and SDDS) and promote publication of National Summary Data Page (NSDP).
- FY2021 progress:
  - Comoros: remote e-GDDS mission in November 2020; technological and resource constraints delayed technical work and NSDP launch date not set.
  - Uzbekistan: remote multi-topic diagnostic mission in March 2021; joint action plan prepared to subscribe to SDDS.
  - Guinea-Bissau and Palau: engagement initiated; feasibility of remote missions being explored for FY2022.
  - STA engaged with additional JSA-eligible countries (Bahrain, Chad, Rwanda, Somalia, Zimbabwe) with planned work in FY2022.

### Selected FY2020 and FY2019 highlights relevant to FY2021 context
- Strengthening Public Financial Management in Selected South East Asian Countries (JPN127)
  - Focus: macro-fiscal management, budget planning and execution, fiscal reporting, and fiscal risk management.
  - COVID-19: remote consultations, guidance on tracking COVID-related expenditure to Cambodia, Lao and Myanmar; regional seminars on digital PFM solutions.
  - Country outputs: FMIS rollout advice in Cambodia; CoA modernization in Lao P.D.R.; fiscal risk and PPP inputs in Vietnam; transparent budget baseline methodology in Indonesia; GFS and fiscal risk tools for the Philippines.
- Infrastructure Governance Facility (JPN128)
  - Aim: strengthen public investment institutions and infrastructure governance (PIMAs, action plans, PIMA workshops).
  - FY2021 outputs: six HQ/STX missions and five PIMA workshops; IG Secretariat established and IG web portal launched in December 2020; IMF “Well Spent” book published; PIMA Handbook in development.
- Regional Government Finance Statistics (JPN513)
  - Objective: compile, analyze, disseminate timely and comprehensive GFS and PSDS.
  - FY2021 outcomes: remote consultations adapted to COVID-19 measurement of fiscal responses; Indonesia and Thailand produced timely high-frequency GFS; Vietnam launched Vietnamese GFS Manual; Lao PDR expanded coverage and started PSDS compilation; Myanmar refined annual and quarterly GFS until delivery paused in February 2021.

### Delivery modalities, COVID-19 adjustments, and operational lessons
- Delivery modalities:
  - Widespread adoption of remote missions, virtual workshops, webinars, blended learning, and microlearning to maintain continuity of CD during the COVID-19 pandemic.
  - Use of resident long-term experts (LTX) and resident advisors (RA) combined with short-term expert (STX) missions where feasible; peripatetic experts funded for targeted tasks.
- Operational impacts and constraints:
  - COVID-19 restricted IMF official travels and in-country field-based CD activities, prompting remote modalities.
  - Technological constraints in some recipient countries limited remote delivery efficacy (e.g., Lao P.D.R. customs, Comoros NSDP work).
  - Political developments halted CD in Myanmar from February 2021 (all CD suspended or reduced to fact-finding in several MCM and FAD programs).
  - Project timeline adjustments: reprioritization of activities, one-year extensions granted (e.g., MCM_APD_2021_01), and delays in event scheduling (e.g., tax conference delayed to April 2022).

### Program impacts, capacity outcomes, and strategic priorities
- Capacity outcomes evidenced in FY2021:
  - Enhanced accounting and fiscal reporting frameworks: cash basis IPSAS outputs in Cambodia; CoA modernizations; Vietnamese GFS Manual.
  - Strengthened debt management practices: MTDS training and DMS development (Solomon Islands, Philippines), improved borrowing planning, and contingency guidance for COVID-19 related debt management.
  - Customs modernization: trade-data analytics for non-compliance risk targeting, digitalization planning, inventories of duty exemptions to reduce leakage.
  - Online learning: substantial scale of engagement (nearly 24,000 active learners in FY2021), high completion and learning gains, and expansion of MOOCs and translations to increase accessibility.
- Strategic priorities identified:
  - Continue flexible remote and blended CD delivery, with modular content enabling personalized learning paths.
  - Strengthen in-country capacity via resident experts (LTX/RA) while maintaining remote backstopping and HQ coordination.
  - Prioritize digitalization and systems modernization (FMIS, CoA, customs E-Customs, NSDP) and integration of PFM, GFS, and debt management frameworks to support fiscal transparency and debt sustainability.
  - Monitor and adapt to country-specific constraints (technological capacity, political disruptions) and align CD pacing with country absorptive capacity during crises.

*Source: Japan-IMF Partnership on Capacity Development Annual Report 2021.*

### Introduction and Background

### Introduction and Background

### Message from the Japanese Government
- COVID-19 caused unprecedented economic and social damages, with developing countries especially severely affected and some development gains reversed.
- The global economy is recovering, but the pace is uneven and near- and medium-term prospects remain highly uncertain.
- IMF Capacity Development (CD) is critically important during recovery, providing remote and in-person CD to meet countries’ urgent needs.
- Japan contributed $10 million to the newly launched IMF COVID-19 Crisis Capacity Development Initiative with a particular focus on debt management.
- Japan provided a new contribution of $44 million in fiscal year 2021 (FY2021), of which $38 million financed a large portfolio of 26 bilateral programs.
- The Government of Japan continues to support IMF CD activities and looks forward to further cooperation.
- Message signed by Masaaki Iizuka, Director of the International Organizations Division, International Bureau, Ministry of Finance, Japan.

### Japan‑IMF Partnership at a Glance — key facts and figures
- Total Japan contributions to the IMF since FY1990: $730 million.
- More than 100 IMF member countries have benefited from Japan-funded CD activities.
- Since 2017, Japan has supported IMF online learning development and delivery; in 2021 Japan contributed $10 million to the COVID-19 Crisis Capacity Development Initiative.
- FY2021 new contribution from Japan: $44 million.
  - Of this $44 million, $38 million financed a portfolio of 26 bilateral programs.
  - The remaining $6 million supports two scholarship programs (JISPA and JISP) and the IMF’s Regional Office for Asia and the Pacific (OAP).
- In the period FY2017–21, Japan accounted for 18 percent of external partner contributions for IMF CD.
- Japan supports multi-partner thematic initiatives including AML/CFT, TADAT, the Revenue Mobilization Thematic Fund, and the Data for Decisions (D4D) Fund.
- Japan supports IMF online courses (IMFx) and CD programs implemented through CDOT (Thailand) and STI (Singapore).

### IMF Capacity Development — scope, delivery, and COVID-19 response
- IMF CD comprises hands-on technical assistance (TA) and training to help countries build effective economic institutions and implement effective policies; CD contributes to progress toward the SDGs.
- CD is fully integrated with IMF lending and surveillance; CD accounts for about one-third of IMF spending.
- Delivery modalities include remote and in-person visits; long-term resident advisors; a network of regional CD centers; virtual and face-to-face training; and free online learning courses.
- During the COVID-19 pandemic:
  - Immediate and real-time policy advice and CD were provided virtually to 160 countries on topics including debt sustainability frameworks, fiscal transparency, direct cash transfers, and fiscal policy for inclusive growth.
  - IMF online learning grew rapidly to more than 110,000 active learners.
  - A new Regional Capacity Development Center opened virtually in February 2021 for the Caucasus, Central Asia and Mongolia.
- The IMF launched the COVID-19 Crisis CD Initiative with the objective to raise $100 million; external donors have pledged more than 1/3rd of this amount.

### Japan’s contributions — detailed figures and program participation
- JSA (the vehicle for Japan’s support under the SFA) contributions since FY1990 total $730 million, allocated as follows in the source table (numbers in millions of U.S. dollars):
  - Japan’s Contributions (FY1990–2016 / FY2017 / FY2018 / FY2019 / FY2020 / FY2021 / Total FY1990–2021): 558.4 / 28.9 / 33.7 / 30.4 / 33.7 / 44.3 / 729.5
  - of which Capacity Development: 449.9 / 23.8 / 27.9 / 25.5 / 28.6 / 38.3 / 594.1
  - of which, COVID-19 Initiative Window: -----10.0 10.0
  - Regional Office for Asia and the Pacific: 30.8 / 1.7 / 2.1 / 2.0 / 2.1 / 2.2 / 41.1
  - Scholarships: 77.6 / 3.4 / 3.7 / 2.9 / 3.0 / 3.8 / 94.3
  - The Japan-IMF Scholarship Program for Asia: 51.2 / 2.5 / 2.8 / 2.4 / 2.4 / 3.0 / 64.3
  - Japan-IMF Scholarship Program for Advanced Studies: 26.4 / 0.9 / 0.8 / 0.5 / 0.6 / 0.8 / 30.0
- In FY2021, Japan contributed to multi-partner vehicles (FY2021 Contributions to Multi-Partner Vehicles, in millions of U.S. dollars):
  - Total FY2021 contributions to multi-partner vehicles: 2.9
  - Anti-Money Laundering and Combating the Financing of Terrorism Subaccount (AML/CFT) - Phase III: 0.4
  - Data for Decisions Fund Subaccount (D4D): 1.0
  - Externally Financed Appointee Subaccount (EFA) - Cohort III: 1.0
  - Tax Administration Diagnostic Assessment Tool Subaccount (TADAT) - Phase II: 0.5
- Japan participates in the joint IMF-World Bank Debt Management Facility (DMF) with a $0.5 million contribution through the World Bank (as noted in the table footnote).

### IMFx on Inclusive Growth — launch and reach
- The new IMFx on Inclusive Growth, financed by the Government of Japan, was launched on May 26, 2021.
- The inaugural offering is an eight-week Massive Open Online Course (MOOC), freely available to government officials and the general public.
- Course development involved over ten economists and a large team of technical experts and consists of six modules.
- At launch:
  - Over 1,500 members of the general public registered.
  - Nearly 450 government officials registered.
  - The promotional video had over 100,000 views.
- Course content increases understanding of inclusive growth and provides analytical and operational tools on how macroeconomic policies affect growth, poverty, inequality, and job creation; modules cover fiscal policy, labor markets, gender, technology, governance and corruption, and climate change.
- Topical modules will be offered as independent learning modules and videos will be hosted on the IMF Institute Learning Channel on YouTube and included in the IMF Summer School.

*Source: Japan-IMF Partnership on Capacity Development Annual Report, IMF.*

### Box 3: Virtual Technical Assistance to

### Box 3: Virtual Technical Assistance to the State Bank of Vietnam (SBV)

### Context and timing
- IMF mission travel was suspended due to COVID-19.
- Virtual technical assistance (TA) to the SBV was delivered starting from February 2020.

### Delivery modalities
- Support was scaled up by an STI-led mission team and split into multiple virtual TA missions.
- Regular Video Teleconferencing (VTC) calls were held with the SBV core group to consult on issues relevant to the ongoing model-building FPAS TA support.
- The online course MPAFx was combined with VTC calls to discuss more general questions on economic theory and practice.
- Virtual training was provided on adapting an IMF pandemic-impact toolbox to Vietnam data.

### Technical focus and content
- Core TA centered on developing a forecasting and policy analysis system (FPAS) at the SBV.
- Discussions covered:
  - Nature of the shocks (in the context of COVID-19).
  - Implications of those shocks for monetary policy decision-making.
- The pandemic-impact toolbox training focused on gauging the impact on Gross Domestic Product based on sectoral-level assessment of the lockdown measures.

### Key operational findings and benefits
- Combining MPAFx online materials with VTC calls proved an efficient way to address theoretical and practical questions.
- Virtual TA enabled continued progress in early implementation of the FPAS model-building despite travel suspension.
- Adapting the IMF pandemic-impact toolbox to Vietnam data supported sectoral-level GDP impact assessment during lockdowns.

*Annual Report, Japan-IMF Partnership on Capacity Development*

### Box 12: Improving External Sector Statistics (ESS) in the Asia-Pacific Region — Participants Adjusted to Remote Mode

### Box 12: Improving External Sector Statistics (ESS) in the Asia-Pacific Region — Participants Adjusted to Remote Mode

### Workshop overview
- A three-day CDOT-SARTTAC remote intermediate level training on Recording COVID-19 Related Transactions in Analytical Balance of Payments: Compilation Challenges was delivered in July 2020.
- Objective: enhance countries’ capabilities to compile a reliable analytical balance of payments presentation and to understand its role for analysis of the crisis impact and for formulation of the necessary policy responses.
- Training materials were provided in advance and recordings were made available.

### Participation and logistics
- The training was attended by more than 60 participants.
- Participant composition: from six SARTTAC and eight ESS CDOT countries.
- Several countries exercised collective connections with 3–10 people in the conference room: Cambodia, Lao P.D.R., Myanmar, Papua New Guinea, Samoa, and Timor-Leste.

### Participant feedback and lessons learned
- According to the survey, participants adjusted well to remote mode.
- Participants commended the interactive manner of the workshop delivery.
- The moderator provided enough space for participants to freely express their views and ask questions.
- The topic was appreciated for being narrowly defined and closely linked to current practical challenges.
- Advance provision of all training materials and access to the recording were deemed to be essential.

### Key statistics and facts
- Duration: three-day training.
- Date: July 2020.
- Attendance: more than 60 participants.
- Country groupings represented: six SARTTAC countries and eight ESS CDOT countries.
- Countries using collective room connections with 3–10 people: Cambodia, Lao P.D.R., Myanmar, Papua New Guinea, Samoa, Timor-Leste.

*Annual Report | Japan-IMF Partnership on Capacity Development (Box 12)*

### APPENDIX I.

### APPENDIX I.

### FY2021 Program: JSA Technical Assistance and Training—Portfolio Summary
- Region: APD; Topic: FAD; Project Description: Supporting for Improved Treasury Management and Modernization of Financial Systems - II; Overall Program Budget: 5.0
- Region: APD; Topic: FAD; Project Description: Twelfth IMF - Japan High Level Tax Conference for Asian Countries in Tokyo; Overall Program Budget: 0.2
- Region: APD/AFR; Topic: FAD; Project Description: Strengthening and Modernizing Customs Administration in Asia and West Africa; Overall Program Budget: 8.5
- Region: Global; Topic: Training; Project Description: The Japan-IMF Flagship Partnership on Online Learning; Overall Program Budget: 7. 4
- Region: AFR; Topic: MCM; Project Description: Strengthening Debt Management Operational Frameworks in Africa; Overall Program Budget: 3.7
- Region: APD; Topic: MCM; Project Description: Strengthening Debt Management Operational Frameworks in Asia-Pacific; Overall Program Budget: 4.4
- Region: Global; Topic: STA; Project Description: Improving Data Dissemination for Globally Selected Countries; Overall Program Budget: 1.3

### FY2020 Program
- Region: APD; Topic: FAD; Project Description: Strengthening PFM in selected South-East Asian Countries; Overall Program Budget: 6.0
- Region: APD; Topic: FAD; Project Description: Eleventh IMF - Japan High Level Tax Conference for Asian Countries in Tokyo; Overall Program Budget: 0.2
- Region: Global; Topic: FAD; Project Description: JSA Program for Strengthening Global Infrastructure Governance (IG); Overall Program Budget: 7. 5
- Region: APD; Topic: STA; Project Description: Regional Government Finance Statistics; Overall Program Budget: 3.5

### FY2019 Program
- Region: APD; Topic: Other; Project Description: Project Proposal to Integrate Macro-Financial Analysis into Macroeconomic Management; Overall Program Budget: 3.5
- Region: AFR; Topic: FAD; Project Description: Strengthening Fiscal Sustainability Through Core Budget Functions in Fragile States in Sub-Saharan Africa; Overall Program Budget: 6.8
- Region: APD; Topic: FAD; Project Description: Supporting Tax Administration Reforms in Selected Asian Countries; Overall Program Budget: 4.5
- Region: APD; Topic: Training; Project Description: Singapore Training Institute Continuing Training on Economic and Financial Policy Analysis in Asia; Overall Program Budget: 8.2
- Region: APD; Topic: MCM; Project Description: Indonesia - Banking, Non-Bank Financial Institution and Conglomerate Supervision; Overall Program Budget: 2.8
- Region: APD; Topic: MCM; Project Description: Cambodia - Strengthening Risk-based Banking Supervision; Overall Program Budget: 2.0
- Region: APD; Topic: MCM; Project Description: Cambodia - Systemic Financial Stability Analysis; Overall Program Budget: 0.9

### FY2018 Program
- Region: APD; Topic: MCM; Project Description: Supporting Monetary and Foreign Exchange (FX) Operations in Cambodia, Myanmar and Vietnam; Overall Program Budget: 3.2
- Region: APD; Topic: MCM; Project Description: Myanmar: Building Comprehensive Bank Supervision and Regulation; Overall Program Budget: 2.1
- Region: APD; Topic: MCM; Project Description: Strengthening Financial Supervision in Mongolia; Overall Program Budget: 2.7
- Region: APD; Topic: STA; Project Description: Improving External Sector Statistics in the Asia-Pacific Region; Overall Program Budget: 3.3

### FY2017 Program
- Region: MCD; Topic: FAD; Project Description: Fiscal Risk Analysis & management, public investment management, budget preparation, and fiscal reporting in Caucasus and Central Asian countries and Iran; Overall Program Budget: 5.2
- Region: APD; Topic: MCM; Project Description: Strengthening Modernization of the Central Bank of Myanmar; Overall Program Budget: 4.2

### FY2016 Program
- Region: APD; Topic: LEG; Project Description: National Risk Assessment / National Strategy and Continued Development of AML/CFT Framework in Myanmar; Overall Program Budget: 1.3

### FY2012 Program
- Region: AFR; Topic: MCM / STA; Project Description: Supporting Preparations for Monetary Union in the East Africa Community; Overall Program Budget: 5.0

*Annual Report | Japan-IMF Partnership on Capacity Development — APPENDIX I.*

### ANNEX I.

### ANNEX I.

### FY2021 JSA Technical Assistance and Training Portfolio — Key Program Highlights and Financials
- The Japan-IMF Partnership on Capacity Development Annual Report 2021 presents a detailed FY2021 portfolio of JSA-funded technical assistance and training programs (amounts in millions of U.S. dollars).
- Selected program-level financial figures (Overall Program Budget / Approved Budget through FY2021 / Expenses through FY2021):
  - FAD_APD_2021_03 (JPN129) — Supporting for Improved Treasury Management and Modernization of Financial Systems - II: 5.0 / 1.6 / 0.9
  - FAD_IMF_2021_03 (JPN130) — Strengthening and Modernizing Customs Administration in Asia and West Africa: 8.5 / 2.7 / 1.1
  - ICD_IMF_2021_02 (JPN206) — The Japan-IMF Flagship Partnership on Online Learning: 7.4 / 1.7 / 1.6
  - MCM_APD_2021_01 (JPN420) — Strengthening Debt Management Operational Frameworks in Asia-Pacific: 4.4 / 1.5 / 0.1
  - MCM_AFR_2021_02 (JPN421) — Strengthening Debt Management Operational Frameworks in Africa: 3.7 / 1.2 / 0.5
  - STA_IMF_2021_01 (JPN508) — Improving Data Dissemination for Globally Selected Countries: 1.3 / 0.4 / 0.0
  - FAD_APD_2021_04 (Seminar) — Twelfth IMF - Japan High Level Tax Conference for Asian Countries in Tokyo: 0.2 / 0.2 / 0.0
- Historical program budgets and cumulative expenses are reported for earlier fiscal cohorts (FY2020, FY2019, FY2018, FY2017, FY2016, FY2012), including programs such as FAD_APD_2020_02 (JPN127) and FAD_IMF_2020_01 (JPN128) with figures like 6.0 / 4.3 / 2.7 and 7.5 / 5.8 / 3.3 respectively.

### Supporting Improved Treasury Management and Modernization of Financial Management Systems II (JPN129, FAD_APD_2021_03)
- Target countries: Cambodia, Lao P.D.R., Myanmar, and Vietnam (CLMV).
- Implementation period: from May 2020 to April 2023.
- Key findings and progress:
  - Program focus: modernizing Chart of Accounts (CoA), improving public accounting and fiscal reporting, strengthening internal audit (IA), and enhancing cash management.
  - COVID-19 forced remote delivery modalities (remote missions, virtual workshops, webinars); regional Treasury Advisor in CDOT central to project achievements.
  - Cambodia: public accounts based on cash basis IPSAS generated; roadmap for Phase 2 Modified Cash Basis tied to Draft Strategy for accruals implementation developed; IT-based IA work advanced.
  - Lao P.D.R.: Phase II CoA modernization continued; peripatetic expert funded; tentative new economic classification produced.
  - Myanmar: before CD halt, extensive CoA review with administrative classification near-final and economic classification advanced; IA Manual under extensive review; COVID-19 expenditure recording and reporting formats developed; Cash Planning model and three COVID-19 response notes produced; PFM Academy lectures attended by 105 ministry staff.
  - Vietnam: post-State Treasury reform strategy 2021–30, activity started on cash management, IA, CoA and business process reengineering, and debt recording and reporting; IA sessions led to planned pilot IA; support on market infrastructure, repo and reverse repo contracts, commitment and budgetary control, CoA reform, GFS-CoA relationship, and external debt accounting and reporting.

### Strengthening and Modernizing Customs Administration in Asia and West Africa (JPN130, FAD_IMF_2021_03)
- Target countries: Cambodia, Lao P.D.R., Mongolia, Myanmar, Benin, Côte d’Ivoire, Guinea, Guinea-Bissau, Liberia, Nigeria, Sierra Leone, and Togo.
- Implementation period: from May 2020 to April 2023.
- Key findings and progress:
  - Objective: enhance customs capacity to collect revenue and control revenue leakage through organizational reform, procedural improvements, and application of rule of law without impeding trade.
  - COVID-19 adjustments: desk diagnostics, reprioritization of planned activities, remote CD delivery.
  - Asia: All recipients received remote support except Myanmar (suspended). Cambodia and Mongolia updated strategic plans and initiated law revision and business process reengineering working groups; CD on special economic zone management and fraud investigation started; Mongolia prioritized organizational and compliance risk management and began customs laboratory and post-clearance audit work; Lao P.D.R. faced technological challenges but began preparatory work on composite revenue mobilization plan. Regional LTX recruited in August 2021 and operates remotely.
  - West Africa: Remote support advanced trade-data analysis for non-compliance risk targeting (Benin, Côte d’Ivoire, Sierra Leone, Togo); Côte d’Ivoire submitted a digitalization plan in February 2021; Nigeria initiated development of an E-Customs project; Liberia and Togo completed inventories of import duty exemptions; Guinea-Bissau prepared a draft Customs Code in November 2020 expected to be submitted to parliament; Guinea and Nigeria updated modernization plans and short-term trade revenue reforms.

### Twelfth IMF–Japan High-Level Tax Conference for Asian Countries (FAD_APD_2021_04)
- Target countries: 22 countries in East, Southeast, and South Asia and Oceania.
- Implementation period: from May 2020 to April 2022.
- Key points:
  - Objective: help Asian countries enhance revenue mobilization strategies amid COVID-19 challenges.
  - Event originally planned for April 2021; delayed to April 2022 due to the pandemic.

### The Japan-IMF Flagship Partnership on Online Learning (JPN206, ICD_IMF_2021_02)
- Target countries: Global program.
- Implementation period: from May 2020 to April 2023.
- Key outcomes and metrics (FY2021):
  - Since 2013: over 112,000 learners registered and more than 31,000 government officials completed an IMFx.
  - FY2021 engagement: nearly 24,000 actively engaged learners and over 4,600 government officials successfully completed an IMFx; about 15 percent of these government officials are from low income countries and 16 percent are from fragile and conflict-affected states.
  - New launches in FY2021: six new MOOCs (GFSx, BOPx, LIC DSFx, MTDSx, DIGx, VITARA – Part I) and six course translations (including MDSx in French, PSDSx in French and Spanish).
  - Course delivery: 41 course re-runs offered.
  - Performance metrics: average completion rate 50 percent overall and 68 percent for government officials; average learning gains about 20 percentage points across courses, with debt courses recording 28 percent average learning gains; satisfaction rating: 94 percent of survey respondents agree the course enhanced understanding.
  - Microlearning initiative: IMF Institute Learning Channel on YouTube gained over 4,980 subscribers and over 243,000 individual views since April 2020.
  - Blended CD examples: remote Maintaining Financial Stability course at STI used MDSx videos; FPP.2x materials used in Financial Programming and Policies; Debt Sustainability Analysis workshop used flipped-classroom with microlearning; Monetary Policy Analysis and Forecasting delivery at JVI used MPAFx plus pre-recorded lectures and workshops.
  - Strategic priority: adopt flexible, modular content enabling personalized learning paths.

### Strengthening Debt Management Operational Frameworks (Africa JPN421 / Asia-Pacific JPN420)
- JPN421 (MCM_AFR_2021_02)
  - Target countries: Benin, Burkina Faso, Côte d’Ivoire, Guinea, Guinea-Bissau, Mali, Mauritania, Niger, Senegal, Togo, Equatorial Guinea, Gabon, Botswana, Eswatini, and Namibia.
  - Implementation period: from May 2020 to April 2023.
  - Key impacts in West Africa (FY2021 remote delivery):
    - Improved capacity to prepare annual borrowing plans consistent with chosen debt strategy and cash management coordination.
    - Guidance on sovereign debt management actions to address COVID-19 challenges.
    - Legal framework review for Guinea’s domestic government securities market and medium-term reform plan drafting.
    - Strengthened MTDS and annual borrowing plan preparation (Togo, Mali, Niger, Guinea).
    - Improved management of guaranteed debt, contingent liabilities, and debt–cash flow coordination (Burkina Faso).
    - Strengthened risk analysis, debt portfolio management, and debt audit (Mali and Benin).
- JPN420 (MCM_APD_2021_01)
  - Target countries: PFTAC member countries and Southeast Asian countries including Indonesia, Malaysia, Philippines, and Thailand.
  - Implementation period: from May 2020 to April 2024.
  - FY2021 activities and constraints:
    - Two activities: joint IMF-World Bank virtual mission to Solomon Islands (Feb–Mar 2021) to support DMS development and MTDS AT training; virtual mission to the Philippines (Feb 2021) to enhance DMS production and evaluate financing sources.
    - Recommendations included consolidating debt management institutional structure, legal framework revisions to require formal DMS approval, revision of bilateral loans under LIBOR/EURIBOR terms, dynamic FX risk management, and retail finance program sound practice revisions.
    - Activity reduction reasons: LTX placement delays, COVID-19 travel restrictions, countries’ preoccupation with economic shock, low remote engagement, and HQ backstopping timing differences.
    - A one-year extension to the project implementation period was granted by JSA; LTX onboarded at PFTAC in March 2021.

### Improving Data Dissemination for Globally Selected Countries (JPN508, STA_IMF_2021_01)
- Target countries: Comoros, Guinea-Bissau, Palau (all e-GDDS), and Uzbekistan (SDDS).
- Implementation period: from May 2020 to April 2023.
- Objectives and delivery:
  - Aim: provide technical support to 15 countries (from 45 eligible) to enhance data dissemination under IMF’s Data Standards Initiatives (e-GDDS and SDDS) and promote publication of National Summary Data Page (NSDP).
  - STA support includes e-GDDS missions, peer-learning workshops, and remote technical support for SDDS advancement; monthly monitoring of timeliness of data dissemination.
- FY2021 progress:
  - Comoros: remote e-GDDS mission in November 2020; technological and resource constraints delayed technical work and NSDP launch date not set.
  - Uzbekistan: remote multi-topic diagnostic mission in March 2021; joint action plan prepared to subscribe to SDDS.
  - Guinea-Bissau and Palau: engagement initiated; feasibility of remote missions being explored for FY2022.
  - STA engaged with additional JSA-eligible countries (Bahrain, Chad, Rwanda, Somalia, Zimbabwe) with planned work in FY2022.

### Selected FY2020 and FY2019 Program Highlights (Excerpts Relevant to FY2021 Context)
- Strengthening Public Financial Management in Selected South East Asian Countries (JPN127, FAD_APD_2020_02; May 2019–Apr 2022)
  - Focus: macro-fiscal management, budget planning and execution, fiscal reporting, and fiscal risk management.
  - COVID-19: remote consultations, guidance on tracking COVID-related expenditure to Cambodia, Lao and Myanmar; regional seminars on digital PFM solutions.
  - Country-specific achievements: FMIS rollout advice in Cambodia; CoA modernization in Lao P.D.R.; fiscal risk and PPP inputs in Vietnam; transparent budget baseline methodology in Indonesia; GFS and fiscal risk tools for the Philippines.
- Infrastructure Governance Facility (JPN128, FAD_IMF_2020_01; May 2019–Apr 2022)
  - Aim: strengthen public investment institutions and infrastructure governance (PIMAs, action plans, PIMA workshops).
  - FY2021 outputs: six HQ/STX missions and five PIMA workshops; IG Secretariat established and IG web portal launched in December 2020; IMF “Well Spent” book published; PIMA Handbook in development.
- Regional Government Finance Statistics (JPN513, STA_APD_2020_01; Aug 2019–Jul 2022)
  - Objective: compile, analyze, disseminate timely and comprehensive GFS and PSDS.
  - FY2021 outcomes: remote consultations adapted to COVID-19 measurement of fiscal responses; Indonesia and Thailand produced timely high-frequency GFS; Vietnam launched Vietnamese GFS Manual; Lao PDR expanded coverage and started PSDS compilation; Myanmar refined annual and quarterly GFS until delivery paused in February 2021.

### Delivery Modalities, COVID-19 Adjustments, and Operational Lessons
- Delivery modalities:
  - Widespread adoption of remote missions, virtual workshops, webinars, blended learning, and microlearning to maintain continuity of CD during the COVID-19 pandemic.
  - Use of resident long-term experts (LTX) and resident advisors (RA) combined with short-term expert (STX) missions where feasible; peripatetic experts funded for targeted tasks.
- Operational impacts and constraints:
  - COVID-19 pandemic restricted IMF official travels and in-country field-based CD activities, prompting remote modalities.
  - Technological constraints in some recipient countries limited remote delivery efficacy (e.g., Lao P.D.R. customs, Comoros NSDP work).
  - Political developments halted CD in Myanmar from February 2021 (all CD suspended or reduced to fact-finding in several MCM and FAD programs).
  - Project timeline adjustments: instances of reprioritization of activities, one-year extensions granted (e.g., MCM_APD_2021_01), and delays in event scheduling (e.g., tax conference delayed to April 2022).

### Program Impacts, Capacity Outcomes, and Strategic Priorities
- Capacity outcomes evidenced in FY2021:
  - Enhanced accounting and fiscal reporting frameworks (cash basis IPSAS outputs in Cambodia; CoA modernizations; Vietnamese GFS Manual).
  - Strengthened debt management practices: MTDS training and DMS development (Solomon Islands, Philippines), improved borrowing planning, and contingency guidance for COVID-19 related debt management.
  - Customs modernization: trade-data analytics for non-compliance risk targeting, digitalization planning, inventories of duty exemptions to reduce leakage.
  - Online learning: substantial scale of engagement (nearly 24,000 active learners in FY2021), high completion and learning gains, and expansion of MOOCs and translations to increase accessibility.
- Strategic priorities identified:
  - Continue flexible remote and blended CD delivery, with modular content enabling personalized learning paths.
  - Strengthen in-country capacity via resident experts (LTX/RA) while maintaining remote backstopping and HQ coordination.
  - Prioritize digitalization and systems modernization (FMIS, CoA, customs E-Customs, NSDP) and integration of PFM, GFS, and debt management frameworks to support fiscal transparency and debt sustainability.
  - Monitor and adapt to country-specific constraints (technological capacity, political disruptions) and align CD pacing with country absorptive capacity during crises.

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_Source: https://www.imf.org/-/media/files/capacity-developement/jsa-annual-reports/jsa2021.pdf_