## jsa2023

## Source details

**Canonical URL:** [jsa2023](https://www.imf.org/-/media/files/capacity-developement/jsa-annual-reports/jsa2023.pdf)

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---

### Introduction and Background — IMF Capacity Development: role and recent scale
- The IMF provides capacity development (CD), comprised of hands-on technical assistance (TA) and training, to help countries build effective economic institutions and implement policies aligned with the Sustainable Development Goals (SDGs).
- CD represented 30 percent of Fund operations in FY2023.
- CD delivery channels: remote and in-person visits; in-country placements of long-term resident advisors (RA); a network of regional CD centers; virtual and face-to-face training; and free online learning courses.
- The IMF launched a CD Strategy Review in FY23 to enhance strategic prioritization, modernize CD delivery, and assess CD size, composition, funding, effectiveness, and impact.
- Integration of CD with IMF surveillance and lending is an institutional priority; Climate Public Investment Management Assessments (C-PIMA) developed with Japan complement the IMF Resilience and Sustainability Trust (RST).

### FY2023 CD funding and financing composition
- Externally funded component of CD in FY2023: $188 million, constituting 67 percent of total CD spending.
- Externally financed CD (FY2023) figures shown in the publication include values: 199, 281, 134, 65, 188, 93 (as presented in the spending chart).
- IMF spending by main output in FY2023 (share of total): 30% Capacity Development; 41% Bilateral Surveillance; 29% Lending.
- External partner contributions have grown steadily to meet rising demand for CD and support regional centers, thematic funds, and bilateral projects.

### Online learning and blended delivery
- IMF online learning expanded rapidly with about 85 online courses and 170,000 active learners.
- Of online learners: close to 50,000 government officials and 37,000 members of the general public from 191 countries have successfully completed an online course.
- Blended CD increases effectiveness by enabling country officials to build knowledge via online courses before in-person missions.
- The IMF Summer School (virtual) in 2022 supported online learning growth.

### Key numeric facts (preserved verbatim)
- CD represented 30 percent of Fund operations in FY2023.
- Externally funded component of CD in FY2023: $188 million, constituting 67 percent of total CD spending.
- IMF online learning: about 85 online courses and 170,000 active learners.
- Of online learners: close to 50,000 government officials and 37,000 members of the general public from 191 countries have successfully completed an online course.
- Japan funding totals reported: "$806 million in funding to date." and "contributions to the IMF since FY1990 total $807 million, of which about $661 million has provided support for IMF CD projects, $45 million for activities OAP, and $101 million for the JISPA and JISP."
- FY2023 Japan contribution to bilateral programs: $13 million supporting a portfolio of 33 bilateral programs.
- April 2022 Japan contribution for CBDC CD: $15 million.
- Japan’s share of external financing for IMF CD in FY2017–23: almost 29 percent.
- Japan was the largest partner to IMF CD in FY2021–FY23, responsible for about a quarter of all external financing to IMF CD.
- Consistency Across Macroeconomic Data Sets workshop participant satisfaction scores: 4.8, 4.8, 4.7, 4.6 (scale 1–5).

---

### Japan-IMF Partnership on Capacity Development — partnership focus and channels
- The Government of Japan is described as the longest standing partner in IMF CD, "with $806 million in funding to date."
- Japan-funded programs typically address fiscal issues, monetary and capital market reforms, macroeconomic statistics, and macroeconomic management, and align with Japan’s international cooperation priorities and the IMF’s commitment to the SDGs.
- Japan supports multi-partner thematic initiatives including AML/CFT, TADAT, Revenue Mobilization Thematic Fund (RMTF), Data for Decisions (D4D) Fund, and the COVID-19 Crisis Capacity Development Initiative (CCCDI).
- Japan supports IMF online courses, the IMF Capacity Development Office in Thailand (CDOT), the Singapore Regional Training Institute (STI), the Regional Office for Asia and the Pacific (OAP), and two scholarship programs (JISPA and JISP).
- The Japan Subaccount (JSA) is the vehicle for Japan’s support to IMF CD.

### Japan contributions — scale, channels, and FY2023 activity
- Publication summary totals: (a) "$806 million in funding to date." and (b) "contributions to the IMF since FY1990 total $807 million, of which about $661 million has provided support for IMF CD projects, $45 million for activities OAP, and $101 million for the JISPA and JISP."
- In FY2023, Japan contributed $13 million to support a portfolio of 33 bilateral programs and the COVID-19 Crisis Capacity Development Initiative (CCCDI).
- Japan provided a $15 million contribution in April 2022 focused on capacity development in Central Bank Digital Currencies (CBDCs).
- In FY2017–FY2023, Japan was responsible for almost 29 percent of external financing for IMF CD; in FY2021–FY2023 Japan was the largest partner to IMF CD, responsible for about a quarter of all external financing to IMF CD.
- FY2023 contributions to multi-partner vehicles (presented in source table) include values such as 3.1, 0.6, 0.5, and 2.0 associated with AML/CFT–Phase III, TADAT–Phase II, and Data for Decisions Fund entries.

### Scholarships and regional support
- Japan supports two scholarship programs: the Japan-IMF Scholarship Program for Asia (JISPA) and the Japan-IMF Scholarship Program for Advanced Studies (JISP).
- Japan supports the IMF Regional Office for Asia and the Pacific (OAP) through JSA contributions.

---

### Selected operational highlights and examples — workshop outcomes and mission results
- Consistency Across Macroeconomic Data Sets workshop (August 2022):
  - One-week in-person regional workshop delivered August 2022 for 21 representatives from central banks, ministries of finance, and statistical offices from six target countries under the External Sector Statistics (ESS) program in CDOT.
  - Workshop objectives: address consistency issues between ESS and national accounts, government finance statistics (GFS), and monetary and financial statistics; provide conceptual lectures and three compilation exercises based on actual country data; develop workbooks to derive and quantify inconsistencies; foster inter-institutional dialogue and priority setting for follow-up TA.
  - Participant feedback scores (scale of 1 to 5, with 5 most favorable): usefulness for improving statistics: 4.8; usefulness for professional development: 4.8; presentations comprehensive/clearly structured: 4.7; appreciation for compilation exercises: 4.6.

---

### Box 2 — Identifying Quasi-Fiscal Activities in the Philippines: toolkit, pilot, and policy implications
- Overview:
  - The Philippines’ large sector of government owned and controlled corporations (GOCCs) has been a major source of fiscal risk, requiring regular financial support from the budget.
  - Quasi-fiscal activities (QFAs) have been a major source of losses for several of the Philippines’ 120-odd GOCCs.
- Definition and fiscal importance:
  - Public service obligations (PSOs) are special responsibilities and obligations at the request of the government for social and public policy purposes that cause GOCCs to go beyond generally accepted commercial norms.
  - Uncompensated costs associated with PSOs lead to losses, worsening a GOCC’s financial position relative to a strictly commercial profit-maximization benchmark.
  - Knowledge of PSOs and the extent of QFAs is important for fully appreciating GOCCs’ financial situations; monitoring associated risks; and sound decisions on the extent and type of financial support the government should provide.
- Toolkit development and pilot:
  - CD assistance provided to the Department of Finance (DoF) to develop a methodological framework for identifying and quantifying QFAs.
  - Pilot covered seven diverse GOCCs selected by the DoF; results synthesized into a generic "toolkit".
- Toolkit content and measurement approach:
  - Toolkit asks whether the activity is unique to a GOCC or sector, and whether it runs counter to commercial interest.
  - Measurement requires identifying direct and indirect forms of compensation and suggests simple estimation methods.
  - Recommendations: use information from identifying QFAs to strengthen approaches for determining appropriate financial support to GOCCs.
- Risk analysis and tools:
  - IMF Fiscal Affairs Department’s (FAD) Discrete Guarantee and Loans Analysis Tool was used to analyze riskiness and pricing of government guarantees to GOCCs, factoring in QFAs.
- Institutionalization and policy implications:
  - The DoF is well equipped to institutionalize the toolkit and apply it across the GOCC sector.
  - Establishing an initial baseline of PSOs and QFAs is likely to be challenging, but subsequent annual updates are expected to be relatively less onerous.
  - Information on PSOs and QFAs will point to specific sources of risks for GOCC financial sustainability, help devise risk mitigation strategies, and provide opportunities to review decisions to transfer policy-implementation responsibilities to GOCCs.

---

### Box 10 — Strengthening and Modernizing Customs Administration in Cambodia: TA, training, and FATF outcome
- Context:
  - In February 2019, the Financial Action Task Force determined that Cambodia had not addressed strategic deficiencies against money laundering and terrorist financing and elevated Cambodia to being “Grey Listed”.
  - GDCE requested FAD support under the JSA program “Strengthening and Modernizing Customs Administration in Asia and West Africa”.
- Technical assistance and activities:
  - FAD, with IMF Legal Department (LEG), mobilized an expert to review GDCE’s operational framework; findings led to extensive training of GDCE staff.
  - Two training sessions provided to over 140 trainees: first session two-day introductory training for 70 GDCE front-line officers; second session four-day training on money laundering investigation techniques and inter-agency coordination, attended by 70 GDCE investigators and approximately 70 officers of other AML/CFT enforcement agencies.
  - Training dates and location: October 20–21, 2022, Phnom Penh, Cambodia; October 24–28, 2022, Phnom Penh, Cambodia.
- Outcomes:
  - Cambodia authorities, including GDCE, made satisfactory progress to address the deficiencies.
  - FATF removed Cambodia from the Grey List in February 2023.

---

### Box 17 — Regional Peer Learning Workshop on Global Data Dissemination: Rwanda workshop and NSDP outcomes
- Workshop overview:
  - Three-day peer-learning Workshop on the enhanced General Data Dissemination System (e-GDDS) held in Rwanda in November 2022.
  - Attendance: about 50 senior managers and mid-career staff from six countries: Comoros, Burundi, Eritrea, Rwanda, Somalia, and Zimbabwe.
  - Delivery format: presentations, country experience sharing, break-out working groups; three countries—Burundi, Rwanda, and Somalia—shared experiences.
- Key outcomes and follow-ups:
  - Immediate results: Burundi established a National Summary Data Page (NSDP); Zimbabwe established a NSDP; Comoros re-energized work to establish an NSDP; Rwanda finalized an Action Plan to subscribe to the Special Data Dissemination Standards (SDDS).
  - Working-group outputs: two road maps to establish a NSDP for Zimbabwe and Comoros; one road map for Rwanda’s SDDS subscription action plan.
- Zimbabwe follow-up mission and NSDP launch:
  - Mission took place in March 2023; authorities launched the NSDP on March 14, 2023.
  - NSDP launch occurred one day before the IMF Executive Board discussed the 2023 Article IV report for Zimbabwe.
  - Comparative speed: usually up to two months after an e-GDDS mission to finalize an NSDP—Zimbabwe’s effort characterized as outstanding.
  - Publicity and financing: NSDP launch publicized through a live webinar and local media; project financed by the Government of Japan.
- Training design and technical approach:
  - Training redesigned to strengthen interagency cooperation (joint training for three data-producing institutions; more in-depth technical coverage; workshop-like activities).
  - Reported benefits: facilitated more active participation in exercises and increased awareness of institution-specific constraints.

---

### Box 20 — CBDC Handbook: purpose, production, milestones, and CD commitments
- Purpose and scope:
  - IMF staff preparing a CBDC Handbook to document basis for CD engagement with jurisdictions exploring CBDC.
  - Handbook will answer frequently asked questions on CBDC in five priority areas: (1) policy objectives and operational framework; (2) foundational requirements and readiness; (3) CBDC design processes, considerations, and choices; (4) project approaches and technology; and (5) potential macro-financial impacts.
- Production process and annual cycle:
  - Three-step process repeated annually: (1) develop Fintech Notes to seek comments inside and outside IMF; (2) brief IMF Executive Board on key policy messages from Fintech Notes; (3) publish Handbook chapters based on Fintech Notes.
  - IMF Executive Board was informed and endorsed this approach in April 2023.
- Milestones and planned outputs:
  - First set of Fintech Notes published in September 2023: six titles including “How Should Central Banks Explore Central Bank Digital Currency?” and others.
  - IMF Board to be briefed on initial considerations on CBDC in October 2023 based on five Fintech Notes; first set of Handbook chapters to follow.
  - Work on next set of Fintech Notes has begun with planned publication in 2024.
- Capacity development commitments (selected FY2023 and FY2022 entries):
  - FY2023 Program (selected CBDC-related items): APD/FAD: Digital Money/CBDC and Fiscal Policy, Operations and Management 2.8; Global MCM: JSA Central Bank Digital Currency (CBDC) CD Work 5.0; MCM JSA: Central Bank Digital Curency (CBDC) Analytics and Development 5.4.
  - FY2022 Program (selected CBDC-related item): Global MCM: Strengthen Capacity on Central Bank Digital Currency (CBDC) in selected LIDCs and EMDEs 1.3.

---

### Appendices and Annex — field visits, EFA program, financials, and FY2023 portfolio highlights
- APPENDIX II — Joint Japan-IMF Field Visits, FY1996–2023:
  - Lists 23 joint field visits between March 1996 and March 2019 (examples include PFTAC in Fiji and Western Samoa, March 1996; Kazakhstan and the Kyrgyz Republic, June 1996; Cambodia and Myanmar, March 2019).
  - Scheduling and cancellations: joint field visits not carried out in FY2005 and FY2015; field visits cancelled in 2020 through 2023 due to the COVID-19 pandemic.
- APPENDIX III — Externally Financed Appointee (EFA) Program:
  - EFA established to accommodate member country officials employed temporarily by the IMF; cost of placing and hosting appointees financed by home country.
  - IMF management approved EFA in July 2013 with initial maximum of 15 appointments; Board approved EFA Subaccount in August 2013.
  - Participation: eleven countries, including Japan, participate; twelve Japanese officials hired under the program; three officials currently participate (one economist, one financial expert and one legal expert).
  - Staffing timing: one official will conclude assignment and return to Japan in summer 2023; one official from the MoF will join in summer 2023.
- APPENDIX IV — JSA Financial Statement — Administered Accounts—Japan Financial Statement FY2023 (In thousands of U.S. dollars):
  - Balance Sheet as of April 30, 2023, 2022, and 2021 — Assets:
    - Cash and cash equivalents1  96,961  116 , 5 2 5    82,854
    - Total assets  96,961  116 , 5 2 5    82,854
  - Resources:
    - Total resources  96,961  116 , 5 2 5    82,854
  - Income Statements and Changes in Resources for the Years Ended April 30, 2023, 2022, and 2021:
    - Balance, beginning of the year  116 , 5 2 5 82,854  60,428
    - Income earned on investments 3,485  69    6
    - Contributions received  17, 315  59,4 4 6    44,349
    - Contributions transferred (net)  (3,10 0)  (1,40 0)  (2,900)
    - Operating expenses  ( 37, 2 6 4) (24,444)  (19,03 0)
    - Net changes in resources  (19, 56 4)  33,671    22,426
    - Balance, end of the year  96,961  116 , 5 2 5    82,854
  - Notes: IMF arranges for an annual audit of the JSA by its external auditors; 1 Net of accruals.
- ANNEX I — JSA Technical Assistance and Training—FY2023 Portfolio Detailed:
  - Selected project budget and expense entries (Overall Program Budget; Approved Budget through FY23; Expenses through FY23) include many exact values (examples):
    - Project FAD_IMF_2023_05: Overall Program Budget 2.8; Approved Budget through FY23 0 .1; Expenses through FY23 0.0.
    - Project STA_APD_2022_01: Overall Program Budget 2.6; Approved Budget through FY23 0.6; Expenses through FY23 0.5.
    - Project FAD_AFR_2022_13: Overall Program Budget 8.0; Approved Budget through FY23 2.6; Expenses through FY23 2.1.
    - Project MCM_APD_2023_02: Overall Program Budget 5.4; Approved Budget through FY23 1.0; Expenses through FY23 0.0.
  - FY2023 program highlights by project include objectives, target countries, FY2023 outputs, and implementation status across multiple projects (examples summarized below).
  - Selected project summaries and FY2023 outcomes:
    - Revenue Mobilization Support (FAD_APD_2022_02; May 1, 2022 to April 30, 2025): targets Bhutan, Lao P.D.R., and Vietnam; FY2023 outcomes include GST implementation support in Bhutan, full delivery of agreed FY2023 work plan in Lao P.D.R., and progress on compliance improvement plans in Vietnam.
    - Infrastructure Governance Facility II (FAD_IMF_2022_06; May 1, 2023 to April 30, 2025): funding contributed to 8 PIMAs and 4 PIMA updates; 9 completed C-PIMAs; one workshop; missions and training in Cambodia, Ethiopia, Moldova, and Zambia; publication: PIMA Handbook (July 2022) and 16 PIMA videos.
    - Domestic Revenue Mobilization (FAD_IMF_2022_05; May 1, 2022 to April 30, 2025): target countries include Bangladesh, Benin, DRC, Côte d’Ivoire, Lao P.D.R., Maldives, Pakistan, Papua New Guinea, Solomon Islands; FY2023 activities include tax expenditures assessment workshops, missions, and advisory outputs (program context notes that public debt in Lao P.D.R. currently estimated at over 100 percent of GDP).
    - JSA Digital Money/CBDC and Fiscal Policy, Operations, and Management (FAD_IMF_2023_05; February 1, 2023 to April 30, 2026): project initiation in last quarter of FY2023; outputs included draft outline for Reaping Benefits and Mitigating Risks of Digital Money in Fiscal Operations; terms of reference for cross-country survey; initiation of Analytical Paper on mobile money and taxation.
    - Strengthening fiscal and debt sustainability (ICD_IMF_2022_03; May 02, 2022 to April 29, 2025): target countries BEAC, Maldives, Philippines, Sri Lanka, Tunisia; FY2023 progress includes CAEM customization and action plans with scheduled missions.
    - ICD Developing Macroeconomic Forecasting and Nowcasting Techniques (ICD_APD_2022_03; May 1, 2022 to April 30, 2023): delivered nowcasting and forecasting capacity building in Solomon Islands, Fiji, Samoa, Tonga, DRC with tools and training outputs.
    - Singapore Regional Training Institute (ICD_APD_2022_01; July 1, 2021 to June 30, 2024): first blended course on Model-Based MPAF rolled out May 2023; satisfaction and learning gains reported with exact metrics: Satisfaction (0 to 5): 2018 = 4.7; 2021 = 4.2; 2022 (Virtual) = 4.7; 2023 (Blended) = 4.9. Learning gains (0 to 100): 2018 = 16; 2021 = 21; 2022 (Virtual) = 13; 2023 (Blended) = 23. Absolute learning (% of learners scoring >60): 2018 = 30; 2021 = 32; 2022 (Virtual) = 32; 2023 (Blended) = 52.
  - Cross-cutting implementation modalities: multi-year implementation periods; resumption of in-person missions; continued use of STX, LTXs, HQ-led missions, regional workshops, blended training, and analytics; coordination with IMF Area Departments, AFRITACs, and other development partners.

_Annual Report, Japan‑IMF Partnership on Capacity Development — Introduction and Background and Annexes._

### Introduction and Background

### Introduction and Background

### IMF Capacity Development: role and recent scale
- The IMF provides capacity development (CD), comprised of hands-on technical assistance (TA) and training, to help countries build effective economic institutions and implement policies aligned with the Sustainable Development Goals (SDGs).  
- CD represented 30 percent of Fund operations in FY2023.  
- CD delivery channels: remote and in-person visits; in-country placements of long-term resident advisors (RA); a network of regional CD centers; virtual and face-to-face training; and free online learning courses.  
- The IMF launched a CD Strategy Review in FY23 to enhance strategic prioritization, modernize CD delivery, and assess CD size, composition, funding, effectiveness, and impact.  
- The integration of CD with IMF surveillance and lending is an institutional priority; Climate Public Investment Management Assessments (C-PIMA) developed with Japan complement the IMF Resilience and Sustainability Trust (RST).

### FY2023 CD funding and financing composition
- Externally funded component of CD in FY2023: $188 million, constituting 67 percent of total CD spending.  
- Externally financed CD (FY2023) figures shown in the publication: IMF-financed and externally-financed comparisons include values 199, 281, 134, 65, 188, 93 visible in the spending chart.  
- IMF spending by main output in FY2023 (share of total): 30% Capacity Development; 41% Bilateral Surveillance; 29% Lending.  
- External partner contributions have grown steadily to meet rising demand for CD and support regional centers, thematic funds, and bilateral projects.

### Online learning and blended delivery
- IMF online learning expanded rapidly with about 85 online courses and 170,000 active learners.  
- Blended CD increases effectiveness by enabling country officials to build knowledge via online courses before in-person missions.  
- The IMF Summer School (virtual) in 2022 supported online learning growth.

---

### Japan-IMF Partnership on Capacity Development

### Partnership at a glance and strategic focus
- The Government of Japan is described as the longest standing partner in IMF CD, "with $806 million in funding to date."  
- Japan-funded programs typically address fiscal issues, monetary and capital market reforms, macroeconomic statistics, and macroeconomic management, and align with Japan’s international cooperation priorities and the IMF’s commitment to the SDGs.  
- Japan supports multi-partner thematic initiatives including AML/CFT, TADAT, Revenue Mobilization Thematic Fund (RMTF), Data for Decisions (D4D) Fund, and the COVID-19 Crisis Capacity Development Initiative (CCCDI).  
- Japan supports IMF online courses, the IMF Capacity Development Office in Thailand (CDOT), the Singapore Regional Training Institute (STI), the Regional Office for Asia and the Pacific (OAP), and two scholarship programs (JISPA and JISP).

### Japan’s contributions — scale, channels, and FY2023 activity
- The Japan Subaccount (JSA) is the vehicle for Japan’s support to IMF CD.  
- The publication reports two summary totals: (a) "with $806 million in funding to date," and (b) "contributions to the IMF since FY1990 total $807 million, of which about $661 million has provided support for IMF CD projects, $45 million for activities OAP, and $101 million for the JISPA and JISP."  
- In FY2023, Japan contributed $13 million to support a portfolio of 33 bilateral programs and the COVID-19 Crisis Capacity Development Initiative (CCCDI).  
- Japan provided a $15 million contribution in April 2022 focused on capacity development in Central Bank Digital Currencies (CBDCs).  
- In the period FY2017–FY2023, Japan was responsible for almost 29 percent of external financing for IMF CD; in FY2021–FY2023 Japan was the largest partner to IMF CD, responsible for about a quarter of all external financing to IMF CD.  
- FY2023 contributions to multi-partner vehicles reported: Anti-Money Laundering and Combating the Financing of Terrorism Subaccount (AML/CFT)–Phase III: 3.1 (table lists 0.6 next to AML/CFT–Phase III and 0.5 for TADAT–Phase II and 2.0 to Data for Decisions Fund—presented in the source table as FY2023 Contributions to Multi-Partner Vehicles).

### Scholarships and regional support
- Japan supports two scholarship programs: the Japan-IMF Scholarship Program for Asia (JISPA) and the Japan-IMF Scholarship Program for Advanced Studies (JISP).  
- Japan supports the IMF Regional Office for Asia and the Pacific (OAP) through JSA contributions.

---

### Selected operational highlights and examples

### Consistency Across Macroeconomic Data Sets workshop (August 2022)
- One-week in-person regional workshop delivered August 2022 for 21 representatives from central banks, ministries of finance, and statistical offices from six target countries under the External Sector Statistics (ESS) program in CDOT.  
- Workshop objectives: address consistency issues between ESS and national accounts, government finance statistics (GFS), and monetary and financial statistics; provide conceptual lectures and three compilation exercises based on actual country data; develop workbooks to derive and quantify inconsistencies; foster inter-institutional dialogue and priority setting for follow-up TA.  
- Participant feedback scores (scale of 1 to 5, with 5 most favorable): usefulness for improving statistics: 4.8; usefulness for professional development: 4.8; presentations comprehensive/clearly structured: 4.7; appreciation for compilation exercises: 4.6. Some participants requested more time and a slower pace.

---

### Key numeric facts and program statistics (preserved verbatim)
- CD represented 30 percent of Fund operations in FY2023.  
- Externally funded component of CD in FY2023: $188 million, constituting 67 percent of total CD spending.  
- IMF online learning: about 85 online courses and 170,000 active learners.  
- Of online learners: close to 50,000 government officials and 37,000 members of the general public from 191 countries have successfully completed an online course.  
- Japan funding totals reported in the publication: "$806 million in funding to date." and "contributions to the IMF since FY1990 total $807 million, of which about $661 million has provided support for IMF CD projects, $45 million for activities OAP, and $101 million for the JISPA and JISP."  
- FY2023 Japan contribution to bilateral programs: $13 million supporting a portfolio of 33 bilateral programs.  
- April 2022 Japan contribution for CBDC CD: $15 million.  
- Japan’s share of external financing for IMF CD in FY2017–23: almost 29 percent.  
- Japan was the largest partner to IMF CD in FY2021–FY23, responsible for about a quarter of all external financing to IMF CD.  
- Consistency Across Macroeconomic Data Sets workshop participant satisfaction scores: 4.8, 4.8, 4.7, 4.6 (scale 1–5).

*Annual Report, Japan‑IMF Partnership on Capacity Development — Introduction and Background section.*

### Box 2. Identifying Quasi-Fiscal Activities in the Philippines

### Box 2. Identifying Quasi-Fiscal Activities in the Philippines

### Overview
- The Philippines’ large sector of government owned and controlled corporations (GOCCs) has been a major source of fiscal risk, requiring regular financial support from the budget (Department of Finance (DoF) engagement).
- Quasi-fiscal activities (QFAs) have been a major source of losses for several of the Philippines’ 120-odd GOCCs.

### Definition and fiscal importance
- Public service obligations (PSOs) are special responsibilities and obligations at the request of the government for social and public policy purposes that cause GOCCs to go beyond generally accepted commercial norms.
- Uncompensated costs associated with PSOs lead to losses, worsening a GOCC’s financial position relative to a strictly commercial profit-maximization benchmark.
- Knowledge of PSOs and the extent of QFAs is important for:
  - fully appreciating GOCCs’ financial situations;
  - monitoring associated risks; and
  - sound decisions on the extent and type of financial support the government should provide.

### Toolkit development and pilot exercise
- As part of a medium-term cooperation program, capacity development (CD) assistance was provided to the Department of Finance (DoF) to develop a methodological framework for identifying and quantifying QFAs.
- A pilot was conducted covering seven diverse GOCCs selected by the DoF to identify and measure their PSOs and QFAs.
- Results of the pilot were synthesized to develop a generic “toolkit”.

### Toolkit content and measurement approach
- The toolkit sets out a series of questions to consider when identifying PSOs, including:
  - whether the activity is unique to a GOCC or to a particular sector; and
  - whether the activity runs counter to the GOCC’s commercial interest.
- In measuring QFAs, the toolkit requires identifying both direct and indirect forms of compensation and suggests simple estimation methods.
- Recommendations included using information gathered from identifying QFAs to strengthen the approach to determining the appropriate form and level of financial support to GOCCs.

### Risk analysis and tools demonstrated
- The IMF Fiscal Affairs Department’s (FAD) Discrete Guarantee and Loans Analysis Tool was used in demonstrations to analyze the riskiness of government guarantees to GOCCs and their pricing, factoring in information on QFAs.

### Capacity building, dissemination, and delivery
- The toolkit and recommendations were presented in a dissemination workshop widely attended by a cross-section of stakeholders within the government and the sample GOCCs.
- CD was delivered virtually with intermittent meetings with key counterparts and other stakeholders spread over nearly a year.

### Institutionalization and policy implications
- The DoF is well equipped to institutionalize the toolkit and apply it across the GOCC sector to systematically measure and monitor the extent of QFAs.
- Establishing an initial baseline of PSOs and QFAs is likely to be challenging, but subsequent annual updates are expected to be relatively less onerous.
- Information on PSOs and QFAs will:
  - point to specific sources of risks for GOCC financial sustainability;
  - help the DoF devise suitable risk mitigation strategies; and
  - provide opportunities to review and re-assess decisions to transfer policy-implementation responsibilities to GOCCs in terms of relevance under evolving economic and social policy objectives and cost effectiveness.

*Source: Box 2, Annual Report, Japan-IMF Partnership on Capacity Development.*

### Box 10. Strengthening and Modernizing Customs Administration in Cambodia

### Box 10. Strengthening and Modernizing Customs Administration in Cambodia

### Context and trigger
- In February 2019, the Financial Action Task Force determined that Cambodia had not addressed strategic deficiencies against money laundering and terrorist financing and elevated Cambodia to being “Grey Listed”.
- The Cambodian Government urged ministries and agencies, including General Customs Department of Customs and Excise (GDCE), to address the deficiencies.
- GDCE requested FAD support under the JSA program “Strengthening and Modernizing Customs Administration in Asia and West Africa”.

### Technical assistance and activities
- FAD, in collaboration with IMF Legal Department (LEG), mobilized an expert under the JSA program to review the GDCE’s operational framework.
- The expert’s findings led to extensive training of GDCE staff.
- Two training sessions were provided to a total of over 140 trainees:
  - First session: two-day introductory training for 70 GDCE front-line officers.
  - Second session: four-day training on money laundering investigation techniques and inter-agency coordination, attended by 70 GDCE investigators and approximately 70 officers of other AML/CFT enforcement agencies that liaise with GDCE.
- Training dates and location:
  - Training for GDCE, Customs Training House. October 20–21, 2022, Phnom Penh, Cambodia.
  - Training for GDCE and relevant government agencies, October 24–28, 2022, Phnom Penh, Cambodia.

### Outcomes and impact
- Cambodia authorities, including GDCE, made satisfactory progress to address the deficiencies.
- FATF removed Cambodia from the Grey List in February 2023.

*Japan-IMF Partnership on Capacity Development Annual Report*

### Box 17. Regional Peer Learning Workshop on Global Data Dissemination

### Box 17. Regional Peer Learning Workshop on Global Data Dissemination

### Workshop overview
- The workshop was a three-day peer-learning Workshop on the enhanced General Data Dissemination System (e-GDDS) held in Rwanda in November 2022.
- Attendance: about 50 senior managers and mid-career staff involved in data dissemination from six countries: Comoros, Burundi, Eritrea, Rwanda, Somalia, and Zimbabwe.
- Countries were selected because of their fragile status—except Rwanda—and because they were assessed as being on the cusp of making strides on data dissemination.
- Delivery format:
  - Mix of presentations by IMF staff and country participants, discussions, and break-out working groups to foster peer learning.
  - Three countries—Burundi, Rwanda, and Somalia—shared experiences on data dissemination and interagency coordination.
  - Working groups prepared country-specific road maps.

### Key outcomes and follow-ups
- Immediate and measurable results after the workshop:
  - Burundi established a National Summary Data Page (NSDP).
  - Zimbabwe established a NSDP.
  - Comoros re-energized work to establish an NSDP.
  - Rwanda finalized an Action Plan to subscribe to the Special Data Dissemination Standards (SDDS).
- Working-group outputs included:
  - Two road maps aimed to establish a NSDP for Zimbabwe and Comoros.
  - One road map to prepare an action plan for Rwanda’s subscription to the SDDS.
- Participant feedback:
  - Participants valued the interaction and open discussion among officials from different data-producing agencies, which they noted is sometimes difficult to ensure in their own countries.

### Zimbabwe follow-up mission and NSDP launch
- During the November 2022 workshop, the Director of the Zimbabwe National Statistics Agency confirmed the authorities’ intention to establish an NSDP and shortly thereafter requested a mission.
- A mission took place in March 2023.
- The authorities launched the NSDP on the last day of the in-person mission: March 14, 2023.
- Timing note: the NSDP launch occurred one day before the IMF Executive Board discussed the 2023 Article IV report for Zimbabwe.
- Comparative speed: Usually, countries take up to two months after an e-GDDS mission to finalize an NSDP—thus, Zimbabwe’s effort was characterized as outstanding.
- Publicity and financing:
  - The NSDP launch was held at a national conference publicized through a live webinar and reported by local media.
  - The IMF’s press release announcing Zimbabwe’s NSDP launch noted that the project was financed by the Government of Japan.

### Training design and technical approach
- The training portion of the Zimbabwe mission was redesigned from the usual e-GDDS mission format to strengthen interagency cooperation:
  - Instead of training data contributors and focal points from one data-producing institution each day, training was conducted jointly for the three data-producing institutions.
  - IMF staff went more in-depth on certain technical aspects (example given: data visualization).
  - The training wove workshop-like activities into the program (hands-on exercises, break-out rooms, and presentations by working groups).
- Reported benefits of the redesigned training:
  - Facilitated more active participation in exercises.
  - Increased awareness of institution-specific constraints.

*Japan-IMF Partnership on Capacity Development Annual Report — Box 17.*

### Box 20. CBDC Handbook

### Box 20. CBDC Handbook

### Purpose and scope
- IMF staff is preparing a CBDC Handbook to document as the basis for capacity development engagement with jurisdictions that are exploring CBDC.
- The Handbook will answer the most frequently asked questions on CBDC in five priority areas:
  - (1) policy objectives and operational framework of CBDC;
  - (2) foundational requirements and readiness to issue CBDC;
  - (3) CBDC design processes, considerations, and choices;
  - (4) project approaches and technology; and
  - (5) potential macro-financial impacts of CBDC.

### Production process and annual cycle
- Production of the Handbook follows a three-step process repeated annually:
  - (1) develop Fintech Notes to seek comments inside and outside of the IMF;
  - (2) brief the IMF Executive Board on key policy messages extracted from the Fintech Notes; and
  - (3) publish Handbook chapters based on the Fintech Notes.
- The IMF Executive Board was informed about and endorsed this approach in April 2023.

### Milestones and planned outputs
- A first set of Fintech Notes were published in September 2023:
  - (1) “How Should Central Banks Explore Central Bank Digital Currency?”;
  - (2) “A Guide to Central Bank Digital Currency Product Development”;
  - (3) “Implications of CBDCs for Monetary Policy Transmission”;
  - (4) “Capital Flow Management Measures in the Digital Age”;
  - (5) “Design Choices for CBDC”; and
  - (6) “CBDC’s Role in Promoting Financial Inclusion”.
- The IMF Board will be briefed on staff’s initial considerations on CBDC in October 2023 based on the five Fintech Notes, and a first set of Handbook chapters will be subsequently produced.
- Work on the next set of Fintech Notes has begun with planned publication in 2024.

### Capacity development commitments and related activities (selected entries)
- Fiscal Year 2023 Program (selected CBDC-related items):
  - APD/FAD: Digital Money/CBDC and Fiscal Policy, Operations and Management 2.8
  - Global MCM: JSA Central Bank Digital Currency (CBDC) CD Work 5.0
  - MCM JSA: Central Bank Digital Curency (CBDC) Analytics and Development 5.4
- Fiscal Year 2022 Program (selected CBDC-related item):
  - Global MCM: Strengthen Capacity on Central Bank Digital Currency (CBDC) in selected LIDCs and EMDEs 1.3

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

### APPENDIX II.

### APPENDIX II.

### Joint Japan-IMF Field Visits, FY1996–2023
- List of joint field visits:
  - (1) PFTAC in Fiji and Western Samoa, March 1996
  - (2) Kazakhstan and the Kyrgyz Republic, June 1996
  - (3) Zambia and Zimbabwe, December 1996
  - (4)  Russian Federation, July 1997
  - (5) Bulgaria and Lithuania, June 1998
  - (6) Indonesia, STI, and Thailand, June/July 1999
  - (7) Belarus and Slovenia, June 2000
  - (8) Azerbaijan and the Joint Vienna Institute (JVI), June 2001
  - (9)  C ambodia and STI, June 2002
  - (10) Mongolia and Timor-Leste, September 2002
  - (11)  I ndonesia and Fiji, December 2003
  - (12) Botswana and AFRITAC East in Tanzania, December 2005
  - (13) Cambodia, STI and the Philippines, March 2007
  - (14) Middle East Regional Technical Assistance Center (METAC) in Lebanon, May 2008
  - (15) Cambodia, and STI, January 2009
  - (16) P hilippines and Fiji (PFTAC), May 2010
  - (17)  Vietnam and Nepal, May 2011
  - (18) Cambodia, June 2012
  - (19) Lao P.D.R., Indonesia, and Thailand, March 2014
  - (20) C ambodia, Lao P.D.R., STI, and CDOT, May 2016
  - (21) S ARTTAC in India, and Nepal, February 2017
  - (22) Cambodia and Sri Lanka, February 2018
  - (23) C ambodia and Myanmar, March 2019
- Scheduling and cancellations:
  - Because of scheduling difficulties, joint field visits were not carried out in FY2005 and FY2015.
  - Field visits were cancelled in 2020 through 2023 due to the COVID-19 pandemic.

### APPENDIX III. Externally Financed Appointee (EFA) Program — design and outcomes
- Purpose and governance:
  - The EFA program was established to accommodate growing interest from member countries in having their officials employed temporarily by the IMF to gain experience and build their skills.
  - The cost of placing and hosting appointees is financed by the home country.
  - IMF management approved the EFA program in July 2013 with an initial maximum of 15 appointments at a time.
  - The Board approved establishment of the EFA Subaccount in August 2013.
- Assignments and supervision:
  - EFA appointees are assigned to IMF core surveillance and program activities and also provide CD in order to broaden their exposure to IMF operational work.
  - EFA appointees are supervised by IMF senior staff.
- Participation and staffing outcomes:
  - To date, eleven countries, including Japan, participate in the EFA and have made corresponding financial contributions to the program.
  - A total of twelve Japanese officials have been hired under the program.
  - Three officials currently participate in the program; one economist, one financial expert and one legal expert.
  - One official will conclude her assignment and will return to Japan in summer 2023.
  - One official from the MoF will join the program in summer 2023.
  - The experience and knowledge gained at IMF will enable the returned officials to contribute more effectively to the Japanese government’s economic policy agenda.

### APPENDIX IV. JSA Financial Statement — Administered Accounts—Japan Financial Statement FY2023 (In thousands of U.S. dollars)
- Balance Sheet as of April 30, 2023, 2022, and 2021 — Assets:
  - Cash and cash equivalents1  96,961  116 , 5 2 5    82,854
  - Total assets  96,961  116 , 5 2 5    82,854
- Resources:
  - Total resources  96,961  116 , 5 2 5    82,854
- Income Statements and Changes in Resources for the Years Ended April 30, 2023, 2022, and 2021:
  - Balance, beginning of the year  116 , 5 2 5 82,854  60,428
  - Income earned on investments 3,485  69    6
  - Contributions received  17, 315  59,4 4 6    44,349
  - Contributions transferred (net)  (3,10 0)  (1,40 0)  (2,900)
  - Operating expenses  ( 37, 2 6 4) (24,444)  (19,03 0)
  - Net changes in resources  (19, 56 4)  33,671    22,426
  - Balance, end of the year  96,961  116 , 5 2 5    82,854
- Notes:
  - The IMF arranges for an annual audit of the JSA to be undertaken by its external auditors, in connection with their annual audit of the IMF’s own accounts, and for a separate certificate of completion to be provided to the Japanese authorities.
  - 1 N et of accruals. The financial statement of the Administered Accounts in the IMF annual report, which includes this Subaccount, reports year end accruals separately.

*Source: APPENDIX II, APPENDIX III, and APPENDIX IV of jsa2023 — Japan-IMF Partnership on Capacity Development Annual Report.*

### ANNEX I.

### ANNEX I. JSA Technical Assistance and Training—FY2023 Portfolio Detailed

### FY2023 approved projects and FY23 budget status (selected entries)
- Project FAD_IMF_2023_05 (S_JPNDM, FY23, AFR/APD, FAD): Overall Program Budget 2.8; Approved Budget through FY23 0 .1; Expenses through FY23 0.0.
- Project S TA _ APD_ 2022 _ 01 (JPN515, FY23, APD, STA): Overall Program Budget 2.6; Approved Budget through FY23 0.6; Expenses through FY23 0.5.
- Project FAD_AFR_2022_13 (JPN135, FY23, AFR, FAD): Overall Program Budget 8.0; Approved Budget through FY23 2.6; Expenses through FY23 2.1.
- Project FAD_APD_2022_02 (JPN134, FY23, APD, FAD): Overall Program Budget 5.7; Approved Budget through FY23 1.5; Expenses through FY23 1.3.
- Project FAD_IMF_2022_05 (JPN133, FY23, Global, FAD): Overall Program Budget 4.5; Approved Budget through FY23 2.6; Expenses through FY23 1.1.
- Project FAD_IMF_2022_06 (JPN136, FY23, Global, FAD): Overall Program Budget 8.3; Approved Budget through FY23 2.7; Expenses through FY23 2.6.
- Project MCM_ APD_ 2023_01 (S_JPNDM, FY23, Global, MCM): Overall Program Budget 5.0; Approved Budget through FY23 0.3; Expenses through FY23 0 .1.
- Project MCM_APD_2023_02 (S_JPNDM, FY23, MCM): Overall Program Budget 5.4; Approved Budget through FY23 1.0; Expenses through FY23 0.0.
- Project ICD_APD_2022_03 (JPN209, FY23, Global, ICD): Overall Program Budget 3 .1; Approved Budget through FY23 1.3; Expenses through FY23 0.8.
- Project ICD_IMF_2022_03 (JPN208, FY23, Global, ICD): Overall Program Budget 5.8; Approved Budget through FY23 1.9; Expenses through FY23 0.6.
- Project MCM_KHM_2022_01 (JPN423, FY23, APD, MCM): Overall Program Budget 1.8; Approved Budget through FY23 0.5; Expenses through FY23 0.3.
- Project FAD_AFR_2022_12 (J PN132, FY23, Global, FAD): Overall Program Budget 1.1; Approved Budget through FY23 0.6; Expenses through FY23 0.2.
- Project STA _ APD_ 2021_01 (JPN514, FY22, APD, STA): Overall Program Budget 2.2; Approved Budget through FY23 1.7; Expenses through FY23 1.2.
- Project ICD_APD_2022_01 (JPN207, FY22, APD, ICD, Training): Overall Program Budget 8.2; Approved Budget through FY23 5.4; Expenses through FY23 4.5.
- Project FAD_AFR_2021_02 (J PN131, FY22, AFR, FAD): Overall Program Budget 1.7; Approved Budget through FY23 1.0; Expenses through FY23 0.7.

### FY2023 program highlights — substantive findings, outputs, and implementation status
- Revenue Mobilization Support (tax administration) for Selected Asian Countries (IMF ID: FAD_APD_2022_02; May 1, 2022 to April 30, 2025)
  - Target countries: Bhutan, Lao P.D.R., and Vietnam.
  - Objectives: (i) revenue mobilization; (ii) better revenue administration, management, and governance arrangements; (iii) strengthened core tax administration functions.
  - FY2023 outcomes:
    - Bhutan: Support on GST implementation options and partial delivery of a taxpayer outreach program; capacity building in risk assessment and data analytics for Department of Revenue and Customs (DRC); business process design and system development capacity building.
    - Lao P.D.R.: Full delivery of agreed FY2023 work plan—DRM initiatives, HQ strengthening, revenue collections, taxpayer services, VAT management, customs-tax collaboration, introduction of international tax; implementation support via peripatetic assistance and STX support.
    - Vietnam: Progress on compliance improvement plans and compliance risk management; steps to finalize procedures and functional structure for large taxpayer administration.

- Infrastructure Governance Facility II (IMF ID: FAD_IMF_2022_06; May 1, 2023 to April 30, 2025)
  - Primary beneficiaries: LIDCs and EMEs in Asia (including Central Asia and the Pacific), and Africa.
  - Objectives: Strengthen infrastructure governance through improved public investment management (PIM); integrate green/climate considerations into PIM; consider debt sustainability and Japan’s quality infrastructure agenda.
  - FY2023 outputs:
    - Funding contributed to 8 PIMAs and 4 PIMA updates; 9 completed C-PIMAs; one workshop; targeted missions and training in Cambodia, Ethiopia, Moldova, and Zambia; development of analytical tools and focused research.
    - Publication: PIMA Handbook (July 2022) and 16 PIMA videos summarizing PIMA institutions.
    - IG Secretariat maintained IG portal content and country coverage.

- FAD JSA Customs Administration Implications of AfCFTA (IMF ID: FAD_AFR_2022_12; May 1, 2022 to March 31, 2024)
  - Target: All countries of the African Continent.
  - Project phases (FY2023–FY2024): (1) initial analysis and reform proposals (Phase 1 completed as of April 2023); (2) technical consultations with African customs administrations and regional trade agreements (Phase 2 starting May 2023); (3) CD delivery to selected countries via STX visits (Phase 3 starting May 2023); (4) final technical note with recommended customs reforms.
  - FY2023 findings: Proposals for effective management of preferential origin rules; emphasis on risk-based control and strengthening the “economic” function of Customs; streamlining clearance and transit to reduce cost/time for intra-continental trade.

- Domestic Revenue Mobilization (tax policy) in Selected Low-income Countries (IMF ID: FAD_IMF_2022_05; May 1, 2022 to April 30, 2025)
  - Target countries: Bangladesh, Benin, DRC, Côte d’Ivoire, Lao P.D.R., Maldives, Pakistan, Papua New Guinea, Solomon Islands.
  - FY2023 activities and results (by country):
    - Bangladesh: Workshop on tax expenditures assessment and revenue estimation; topics included benchmark tax system, data requirements, estimation methodologies, micro- and macro-simulation models, and tax expenditures reporting.
    - Benin: Two visits; identification of tax base risks and mitigation; assessment of tax treaty policy and advice on domestic anti-abuse rules.
    - DRC: Three activities—tax expenditures assessment including fuel subsidies; tax expenditures assessment for Province of Kinshasa; review and rationalization of non-tax revenues and administrative fees.
    - Côte d’Ivoire: Limited progress in FY2023; renewed interest signaled end-FY2023; activities planned for FY2024.
    - Lao P.D.R.: Preparations for first mission in May 2023; objective includes reviewing tax policy settings for mining sector; public debt currently estimated at over 100 percent of GDP (as noted in program context).
    - Maldives: MTRS project started June 2022; authorities proceeding with MTRS formulation and submission of new Goods and Services Act draft to parliament.
    - Pakistan: FY2023 activities funded under IMF’s RMTF program; future support to use JSA funds.
    - Papua New Guinea: Support for modernization and simplification of income tax act; tax policy advice on new MTRS; tax law drafting via STX support.
    - Solomon Islands: Advice on mining fiscal regime settings; March 2023 mission produced a mining fiscal regime model for future investor negotiations.

- Strengthening Fiscal Sustainability in Fragile States (IMF ID: FAD_AFR_2022_13; May 1, 2022 to April 30, 2025)
  - Target countries: Burkina Faso; Burundi; Cameroon; Central African Republic; Chad; DRC; Congo, Republic of; Eritrea; Ethiopia; Gabon; Gambia; Guinea-Bissau; Liberia; Malawi; Mali; Nigeria; Sierra Leone; South Sudan; Zimbabwe.
  - FY2023 outputs:
    - Resident LTXs and HQ missions supported TSA operationalization, balance sheet consolidation, accounting reforms, program-based budgeting transitions, cash management improvements, IFMIS implementation, and action plans for arrears management.
    - Country-specific highlights: Burundi (balance sheet consolidation and MoF reorganization); DRC (TSA operationalization and accounting reforms); CAR (program-based budgeting and TSA); Chad (PFM strategy implementation and bank account census); Congo (cash management reforms and TSA steering committee); Malawi (IFMIS progress and accounting controls); Liberia (PFM regulations and budget execution analysis); Nigeria (fiscal council capacity strengthening); Mali and Sierra Leone (cash management and strategic budgeting).

- JSA Digital Money/CBDC and Fiscal Policy, Operations, and Management (IMF ID: FAD_IMF_2023_05; February 1, 2023 to April 30, 2026)
  - Target countries: APD – selected countries; AFR—selected Fragile and Conflict-Affected States (FCS).
  - Objective: Develop evidence-based insights on implications, challenges, benefits, and risks of digital money/CBDCs for fiscal policy, treasury operations, social assistance disbursements, integration of treasury and revenue systems, and taxation of digital money (especially mobile money).
  - FY2023 actions:
    - Project initiation in last quarter of FY2023; outputs included draft outline for Reaping Benefits and Mitigating Risks of Digital Money in Fiscal Operations; terms of reference for cross-country survey; initiation of Analytical Paper on mobile money and taxation.

- Strengthening fiscal and debt sustainability, and sustainable growth through macroeconomic frameworks and debt dynamic analysis (IMF ID: ICD_IMF_2022_03; May 02, 2022 to April 29, 2025)
  - Target countries: BEAC, Maldives, Philippines, Sri Lanka, Tunisia.
  - FY2023 progress (selected):
    - BEAC/CEMAC: BOP data lags up to two years; IMF Statistical Department assisting BOP compilation; ICD assistance to commence around December 2023; TA tentatively to finalize by November 2023 for CB BOP compilation.
    - Maldives: Customizing CAEM to Maldivian economy; progress on data management, real sector customization, baseline forecast, scenario simulation; three TA missions planned for FY2024; project expected to finalize by end of FY2024.
    - Philippines: Scoping mission January 2023; preliminary work program contemplates 7 missions until end-FY2025 plus one year buffer; initial emphasis on DDT and debt projections, shifting to macro framework development from October 2023.
    - Sri Lanka: Scoping mission in last quarter of FY2023; ad referendum Action Plan agreed; three TA missions planned for FY2024; project initially scheduled to end end-FY2026.
    - Tunisia: Action Plan agreed November 18, 2022 (November 2022 to November 2024 with buffer); CAEM-based framework development; creation of central macroeconomic database and CAEM customization achieved with core team engagement.

- ICD Developing Macroeconomic Forecasting and Nowcasting Techniques (IMF ID: ICD_APD_2022_03; May 1, 2022 to April 30, 2023)
  - Target countries: Solomon Islands, Fiji, Samoa, Tonga, DRC.
  - FY2023 outcomes:
    - Solomon Islands: Two missions; capacity building on near-term forecasts and nowcasts; development of NTF and nowcasting tools using EViews; complement to QPM development.
    - Fiji: First mission focused on GDP and inflation nowcasts/near-term forecasts; development of NTF and nowcasting tools; planned Workshop on Monetary Policy and Nowcasting for Pacific Island Central Banks in Fiji in March 2024.
    - Samoa: Two missions (virtual and in-person) to strengthen nowcasting capacity and data gathering; plan to integrate nowcasting into CB monetary policy and public communications from August 2023 onwards; QPM development support planned in latter half FY2024.
    - Tonga: Completed cycle of forecasting and nowcasting with NRBT; developed nowcasting regression model for real GDP; constructed inflation and BOP forecasting models; guided creation of a GDPNow report.
    - DRC: Two missions to develop QPM (incorporating dollarization, interest rate channel) and nowcasting/near-term forecasting tools; database construction ongoing; tools to improve decision-making.

- Singapore Regional Training Institute (STI) — Continuing Training and Technical Assistance on Economic and Financial Policy Analysis in Asia (IMF ID: ICD_APD_2022_01; July 1, 2021 to June 30, 2024)
  - Target countries: Asia and Pacific.
  - FY2023 deliverables and metrics:
    - First blended course on Model-Based MPAF rolled out May 2023 (asynchronous online modules + in-person delivery in Singapore).
    - Reported course metrics for MPAF:
      - Satisfaction (0 to 5): 2018 = 4.7; 2021 = 4.2; 2022 (Virtual) = 4.7; 2023 (Blended) = 4.9.
      - Learning gains (0 to 100): 2018 = 16; 2021 = 21; 2022 (Virtual) = 13; 2023 (Blended) = 23.
      - Absolute learning (% of learners scoring >60): 2018 = 30; 2021 = 32; 2022 (Virtual) = 32; 2023 (Blended) = 52.
    - Blended approach increased participant preparedness and learning gains.

- Strengthening Capacity on CBDC (COVID MCM; IMF ID: MCM_IMF_2022_07; December 1, 2021 to April 30, 2024)
  - Target countries: Global.
  - FY2023 activities:
    - Bilateral CD missions to Azerbaijan, Egypt, Haiti, Honduras, Jordan, South Sudan, and the Philippines to strengthen CBDC exploration capacity.
    - Regional conferences/workshops across Central America, Sub-Saharan Africa, Caribbean, and Pacific Islands.
    - Analytics and Development work including CBDC Handbook and IMF policy paper summarized CBDC CD and introduced the CBDC Handbook during the 2023 Spring Meetings.

### Cross-cutting implementation modalities and delivery notes
- Implementation periods: Many programs span multi-year implementation periods (examples: May 1, 2022 to April 30, 2025; May 1, 2023 to April 30, 2025; February 1, 2023 to April 30, 2026).
- Delivery modes in FY2023: Resumption of in-person missions increased interactive CD delivery; continued use of short-term expert (STX) support, resident long-term experts (LTXs), HQ-led missions, regional workshops, blended training (online + in-person), and analytics work.
- Coordination and integration: CD activities emphasized coordination with IMF Area Departments, AFRITACs, other development partners, and integration across PFM, statistics, debt management, and monetary operations areas to maximize synergies.

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_Source: https://www.imf.org/-/media/files/capacity-developement/jsa-annual-reports/jsa2023.pdf_