## Annual Report — Japan‑IMF Partnership on Capacity Development (Appendix 1) — Summary of JSA programs ## Source details **Canonical URL:** [Annual Report — Japan‑IMF Partnership on Capacity Development (Appendix 1) — Summary of JSA programs](https://www.imf.org/-/media/files/capacity-developement/jsa-annual-reports/jsa2024.pdf) ## Other formats - [Markdown version](/-/media/files/capacity-developement/jsa-annual-reports/jsa2024.pdf.md) - [Structured JSON version](/-/media/files/capacity-developement/jsa-annual-reports/jsa2024.pdf.json) --- ### External partner financing and Japan’s contributions - External partner shares (Capacity Development Information Management System (CDIMS), FY2017–2024; excludes in‑kind contributions): - Japan: 28% - European Commission: 13% - Canada: 7% - United Kingdom: 6% - Switzerland: 5% - Others: 41% - Japan’s contributions and allocations (reported, FY1990–2024; figures in millions of U.S. dollars): - Japan’s Contributions 1: 558.4; FY2017: 28.9; FY2018: 33.7; FY2019: 30.4; FY2020: 33.7; FY2021: 44.3; FY2022: 59.4; FY2023: 17.5; FY2024: 21.5; Total FY1990–2024: 82 7.8 (as reported) - Capacity Development 2 (subset): 449.9; FY2017: 23.8; FY2018: 2; FY2019: 7.9; FY2020: 25.5; FY2021: 28.6; FY2022: 38.3; FY2023: 53.8; FY2024: 12 .8; Total FY1990–2024: 16. 567 7. 2 (as reported) - COVID-19 Initiative Window: 0.0; FY2021: 10.0; Total: 10.0 - Digital Money Window: FY2022: 15.0; FY2024: 0.3; Total: 15.3 - Regional Office for Asia and the Pacific: 30.8; FY2017: 1.7; FY2018: 2 .1; FY2019: 2.0; FY2020: 2 .1; FY2021: 2.2; FY2022: 2 .1; FY2023: 1.8; FY2024: 1.7; Total: 46.6 - Scholarships (aggregate): 7 7. 6; FY2017: 3.4; FY2018: 3.7; FY2019: 2.9; FY2020: 3.0; FY2021: 3.8; FY2022: 3.5; FY2023: 2.9; FY2024: 3.2; Total: 104.0 - The Japan-IMF Scholarship Program for Asia: 51. 2; FY2017: 2.5; FY2018: 2.8; FY2019: 2.4; FY2020: 2.4; FY2021: 3.0; FY2022: 2.8; FY2023: 2.2; FY2024: 2.6; Total: 71.9 - Japan-IMF Scholarship Program for Advanced Studies: 26.4; FY2017: 0.9; FY2018: 0.8; FY2019: 0.5; FY2020: 0.6; FY2021: 0.8; FY2022: 0.7; FY2023: 0.7; FY2024: 0.7; Total: 32.1 - FY2024 Contributions to Multi‑Partner Vehicles (Japan; in millions of U.S. dollars): Total: 3.6 - Anti‑Money Laundering/Combating the Financing of Terrorism Subaccount (AML/CFT) - Phase III: 0.6 - Ukraine Capacity Development Fund (UCDF): 2.0 - Externally Financed Appointee Subaccount (EFA): 0.5 - Global Public Finance Partnership (GPFP): 0.5 ### Programmatic priorities, regional coverage, and sectoral allocations - Regional commitments (FY1993–2024, in millions of U.S. dollars; FY1993–2016, FY2017–FY2024 and totals as reported): - Africa: FY1993 -2016 = 93.9; FY2017 = 5.4; FY2018 = 3.2; FY2019 = 4.0; FY2020 = 2.4; FY2021 = 3.1; FY2022 = 1.8; FY2023 = 4.3; FY2024 = 4.0; FY1993–2024 Total = 122.0; Total% = 19% - Asia and Pacific: FY1993 -2016 = 200.0; FY2017 = 13.5; FY2018 = 15.8; FY2019 = 17.6; FY2020 = 17.3; FY2021 = 15.2; FY2022 = 9.5; FY2023 = 10.0; FY2024 = 11.9; FY1993–2024 Total = 310.8; Total% = 49% - Eastern Europe: FY1993 -2016 = 38.9; FY1993–2024 Total = 38.9; Total% = 6% - Europe: FY1993 -2016 = 30.4; FY1993–2024 Total = 30.4; Total% = 5% - Latin America and Caribbean: FY1993 -2016 = 15.5; FY1993–2024 Total = 15.5; Total% = 2% - Middle East and Central Asia: FY1993 -2016 = 27.8; FY2017 = 0.7; FY2018 = 1.8; FY2019 = 1.7; FY1993–2024 Total = 32.0; Total% = 5% - Multiple Regions: FY1993 -2016 = 22.9; FY2017 = 0.5; FY2018 = 1.5; FY2019 = 1.5; FY2020 = 3.8; FY2021 = 7.3; FY2022 = 12.5; FY2023 = 20.9; FY2024 = 16.2; FY1993–2024 Total = 87.2; Total% = 14% - Total (all regions): FY1993 -2016 = 429.5; FY2017 = 20.0; FY2018 = 22.4; FY2019 = 24.9; FY2020 = 23.4; FY2021 = 25.5; FY2022 = 23.8; FY2023 = 35.2; FY2024 = 32.1; FY1993–2024 Total = 636.9; Total% = 100% - Sectoral priorities (FY1993–2024, in millions of U.S. dollars; FY1993–2016 and FY1993–2024 totals as reported): - Public Finances: FY1993 -2016 = 144.2; FY2017 = 7.6; FY2018 = 9.6; FY2019 = 10.9; FY2020 = 11.1; FY2021 = 12.1; FY2022 = 12.1; FY2023 = 18.0; FY2024 = 14.2; FY1993–2024 Total = 239.9; Total% = 38% (Fiscal topics represented the largest share, with 44 percent of yearly commitments in FY2024.) - Monetary and Financial Systems: FY1993 -2016 = 138.7; FY2017 = 4.9; FY2018 = 4.1; FY2019 = 7.0; FY2020 = 4.6; FY2021 = 5.3; FY2022 = 3.5; FY2023 = 5.8; FY2024 = 6.7; FY1993–2024 Total = 180.7; Total% = 28% - Statistics: FY1993 -2016 = 75.7; FY2017 = 3.1; FY2018 = 3.5; FY2019 = 2.4; FY2020 = 2.4; FY2021 = 2.3; FY2022 = 1.5; FY2023 = 2.0; FY2024 = 2.0; FY1993–2024 Total = 94.9; Total% = 15% - Macroeconomic Frameworks/Training: FY1993 -2016 = 46.7; FY2017 = 2.3; FY2018 = 3.8; FY2019 = 4.1; FY2020 = 4.3; FY2021 = 4.6; FY2022 = 5.6; FY2023 = 8.6; FY2024 = 8.8; FY1993–2024 Total = 88.7; Total% = 14% - Legal Frameworks: FY1993 -2016 = 10.7; FY2017 = 0.6; FY2018 = 0.2; FY2022 = 0.6; FY2023 = 0.6; FY2024 = 0.4; FY1993–2024 Total = 13.0; Total% = 2% - Others: FY1993 -2016 = 13.5; FY2017 = 1.6; FY2018 = 1.1; FY2019 = 0.5; FY2020 = 1.1; FY2021 = 1.2; FY2022 = 0.5; FY2023 = 0.2; FY1993–2024 Total = 19.7; Total% = 3% - Total (all topics): FY1993 -2016 = 429.5; FY2017 = 20.0; FY2018 = 22.4; FY2019 = 24.9; FY2020 = 23.4; FY2021 = 25.5; FY2022 = 23.8; FY2023 = 35.2; FY2024 = 32.1; FY1993–2024 Total = 636.9; Total% = 100% ### Selected program highlights, operational inputs, and measurable results - Box 1 — Strengthening revenue administration and mobilization in Sri Lanka (Program ID: FAD_APD_2022_02) - CD inputs and coordination: - TADAT assessment in January 2023 funded by the IMF; integrated JSA support with SARTTAC. - CD delivery: IMF HQ staff visit; two FAD HQ missions; eight short‑term expert assignments; peripatetic support; resident long‑term revenue advisor introduced August 2023. - Monthly partner working group led by IMF via JSA; partners as of March 2024: World Bank, Asian Development Bank, United States Treasury, USAID, UNDP, British High Commission, Embassy of Japan. - Operational reforms and outputs: - Implemented VAT Refund mechanisms; preparations for repeal of simplified value‑added‑tax. - Enhancements in large taxpayer management and refined risk assessment protocols. - Development of a revenue authority; launch of a high‑wealth individual compliance program. - Diagnostic assessment of the Excise Department; initial development of RAMIS 3.0. - Results and indicators: - IRD revenues for 2023 increased significantly (attributed to tax rate increases and improved administrative efforts). - VAT return filing compliance, January 2023 to March 2024: - Large businesses: increase by 12 percent - Non‑large businesses: increase by 21 percent - Electronic submission of individual income tax returns: increase by 11 percent - Box 2 — ICD Online Learning (ICD_IMF_2023_02) - Blended FPP course (FY2024): - Redeveloped into blended format; JSA‑funded delivery occurred twice in FY2024. - Delivery dates: JVI session July 10 to August 11, 2023; IMF session October 2 to November 3, 2023. - Total participants: 68 (representing officials from 14 and 36 countries respectively). - Outcomes and metrics: - Combined average learner satisfaction: 4.6 out of 5 - Average increase in learning: 24.5 percentage points over life of the course - 87.2 percent of learners scored above 60 percent in the post‑course test - FY2024 course metrics (portfolio): - Overall participant satisfaction: 96 percent - Percent reporting course knowledge/skills will be useful for their job: 92 percent - 29 in‑depth interviews from 22 countries complement quantitative metrics - Box 3 — Lao P.D.R.: Multiyear CD engagement with the Central Bank through CDOT (MCM_APD_2018_01, APD_TTA_2019_01) - Structure and outcomes: - Multiyear engagement coordinated by CDOT Director (APD), monetary and FX operations advisor (MCM), and macroeconomic advisor (ICD). - Two JSA funding programs: MCM_APD_2018_01 and APD_TTA_2019_01. - BOL established internal committee led by Deputy Governor and Director General of Monetary Policy Department. - Good progress achieved in less than a year after first multiyear work plan agreed July 2023; provided APD with clear CD goals and coordinated steering toward medium‑term outcomes. - Box 4 — Governance and Corruption Diagnostic for Sri Lanka (LEG_IMF_2022_04) - Scope and integration: - GD prepared by IMF staff and published September 2023 at authorities’ request; guided by IMF’s 2018 Framework on Enhanced Fund Engagement on Governance. - Assesses severity/nature of corruption; governance weaknesses in macro‑critical fiscal governance; financial sector oversight; rule of law; anti‑corruption/AML frameworks. - GD integrated in IMF‑supported program for Sri Lanka; report publication is a structural benchmark. - Implementation actions by authorities: - Prepared and published an Anti‑Corruption Action Plan. - Revamped Independent Anti‑Corruption Commission. - Revamped Anti‑Corruption Law. - IMF Legal Department to provide follow‑up technical assistance on anti‑corruption and rule of law recommendations. - Example recommendations: - Publish asset declarations for senior officials. - Make public procurement contracts above one billion rupees available online. - List firms receiving tax exemptions. - Box 10 — Chad DDT Project (ICD_IMF_2021_05) - Context and objectives: - Strengthen MoF staff capacity to forecast public debt in local/foreign currency, compute fiscal adjustment paths for a debt target, and assess shock impacts using the Debt Dynamics Tool (DDT). - Implementation and outputs: - Six missions (2021–November 2022); training to define data needs, run debt projections (baseline and shock scenarios), and develop reporting options including fan charts. - Broadened analysis to gross financing needs, below the line items, and impact of macro‑fiscal shocks on solvency/liquidity indicators. - Outcomes: - Tool institutionalized; supported National Development Plan 2023‑28 projections. - MoF staff now produce a Note on Public Debt Dynamics with four sections: macroeconomic context; recent debt trends; medium‑/long‑term debt scenarios; risk assessment. - BSP’s PAMPh2.0 Project (ICD_IMF_2021_05) - Achievements and timeline: - PAMPh2.0 formally adopted; enables forward‑looking monetary policy and integrated quantitative policy analysis. - BSP transition to PAMPh2.0 as primary operational model by August 2024 after shadow forecasting. - Joint IMF Working Paper scheduled for June 2024; comprehensive TA report scheduled for Fall 2024. - Enablers: dedicated analytical team; management engagement; full expertise transfer; regional technical workshops; coordination with APD and MCM. - Nowcasting Monetary Policy Workshop (ICD_APD_2022_03) - Workshop details: - Suva, April 10–19, 2024; facilitated by PFTAC advisers and IMF HQ; 26 officials participated, half female. - High‑level attendees included two Deputy Central Bank Governors and two Governors attending panels. - Eight days of presentations, peer exchanges, and training; participants presented nowcasting models. - Reception: Governors and Deputy Governors welcomed annual replication; event primarily supported by Government of Japan with additional PFTAC donor funding. - Blended Course on External Sector Statistics (STA_APD_2021_01) - Course: one‑week regional blended EDS course, March 18–23, 2024, Bank of Thailand, Bangkok; preceded by EDSx online course in February 2024. - Participants: 24 officials from Cambodia, Lao P.D.R., Nauru, Papua New Guinea, Samoa, Timor‑Leste, Tonga, and Vietnam. - Outcomes: improved EDS compilation understanding; urgent TA needs on private sector and direct investment debt; emphasis on interagency data sharing. - Strengthening Government Capacity in Expenditure Policy Analysis FY2024‑26 (FAD_VNM_2023_01) - Vietnam: - Objectives: develop/transfer microsimulation model for long‑term pension modelling; identify IMF TA on labor market and social policy. - Outputs: pension model finalized; users’ manual transferred to Vietnam Social Security (VSS); authorities requested continuation and expansion. - Palau: - FAD missions: July 2023, November 2023; mission head debrief November 21, 2023. - Outcome: Executive Order establishing Employment and Compensation Committee (ECC); World Bank agreed to functional review; ADB consultant support for compensation projection model. - Kiribati: - CD developed methodology estimating copra subsidy incidence and fiscal cost; quantified subsidy rate and fiscal implications (see Box 16). - Box 16 — Kiribati copra subsidy analysis (FAD_VNM_2023_01) - Key findings: - Subsidization rate estimated at 91 percent. - Total subsidy in 2023 estimated at 7.7 percent of GDP, driven by doubling of administered price and increased production. - CD provided reform options and implementation considerations; findings linked to 20‑year Kiribati Vision plan analysis. - Restoring TOFE preparation in Comoros (summary) - Problems addressed: inability to produce TOFE, poor consolidation/analysis of fiscal data, delays, misreporting. - Outcomes: quarterly TOFE preparation restored; new TOFE committee established; Excel tool cleaned; improved fiscal information and stakeholder capacities; benefits to ECF monitoring. ### Monitoring, evaluation, and visibility - Monitoring and evaluation: - JSA external evaluation (covered CD activities May 2017–April 2022) used OECD/DAC criteria; overall assessment rated 2.6 out of 4.0 (1 = poor; 4 = excellent). - IMF’s quinquennial CDSR completed in FY2024; Japanese authorities provided substantial input. - RBM used to design interventions and assess impacts; IMF staff share interim self‑assessments with Japan each fiscal year. - Visibility highlights (FY2024): - Events and communications featuring Japan’s support included UCDF donor announcement (October 2023), 2023 Annual Meetings and STI 25th anniversary (November 2023), GPFP donor announcement at 2024 Spring Meetings, FDMD video on Online Learning Program (March 2024) with statement thanking Government of Japan, and visibility on IMF.org. - OAP outreach and JISPA 30th anniversary campaign: special website, video testimonials, #JISPA30, seminars, Macroeconomist Training Program courses, and recruitment outreach. ### Japan‑funded scholarship programs (JISPA and JISP) — FY2024 statistics - JISPA (Japan‑IMF Scholarship Program for Asia): - Program established 1993; supports graduate studies in Japan. - FY2024 academic year (October 1, 2023 to September 30, 2024): awarded 34 new scholarships; supported 63 scholars in total, including 4 PhD candidates. - Cumulative since 1993: 967 scholarships awarded; 881 scholars graduated. - Top country alumni distributions (1993–2024; Number, Percent, of which graduates): - Uzbekistan: 103, 10.7%, 96 - China: 102, 10.5%, 102 - Vietnam: 102, 10.5%, 99 - Myanmar: 85, 8.8%, 79 - Cambodia: 81, 8.4%, 73 - Mongolia: 68, 7.0%, 56 - Indonesia: 57, 5.9%, 48 - Kyrgyz Republic: 54, 5.6%, 51 - Thailand: 54, 5.6%, 47 - Bangladesh: 50, 5.2%, 44 - (additional country breakdowns as reported) - JISP (Japan‑IMF Scholarship Program for Advanced Studies): - Began 1996; since 2009 only Japanese nationals eligible; starting 2024 up to four scholars admitted annually. - Scholarship covers tuition and reasonable costs for two years and includes paid summer internship at IMF. - Since inception: 37 JISP alumni joined the IMF; 17 of whom were Japanese. - As of May 2024: 26 JISP alumni still working at IMF; most recent scholar joined September 2022. ### FY2024 budget lines and ANNEX I portfolio financials (selected program budgets; figures in millions of U.S. dollars) - Selected FY2024 overall program budgets and FY24 approved/expenses (ANNEX I excerpts): - FAD_APD_2023_02 (JPN141) — Tax Policy Reform in Selected Asian Countries FY24‑25: - Overall Program Budget: 2.0; Approved Budget through FY24: 0.8; Expenses through FY24: 0.7 - FAD_APD_2023_03 (JPN139) — Strengthening PFM in Selected Southeast Asian Countries FY24‑26: - Overall Program Budget: 4.9; Approved Budget through FY24: 1.9; Expenses through FY24: 1.2 - ICD_IMF_2023_02 (JPN210) — Japan‑IMF Flagship Partnership on Online Learning: - Overall Program Budget: 4.9; Approved Budget through FY24: 2.7; Expenses through FY24: 2.7 - STA_IMF_2023_02 (JPN516) — Improving Data Dissemination Phase II: - Overall Program Budget: 1.5; Approved Budget through FY24: 0.7; Expenses through FY24: 0.2 - FAD_IMF_2023_05 (S_JPNDM) — Digital Money/CBDC and Fiscal Policy (FY23 window): - Overall Program Budget: 2.8; Approved Budget through FY24: 1.2; Expenses through FY24: 0.1 - STA_APD_2022_01 (JPN515) — Strengthen Macro and Financial Statistics in Asia‑Pacific (JSA4): - Overall Program Budget: 2.6; Approved Budget through FY24: 1.5; Expenses through FY24: 1.3 - (Additional FY23–FY21 program budgets and expenses listed in ANNEX I as reported.) ### FY2024 portfolio‑level outcomes and cross‑cutting observations - Online and blended CD integration (FY2024 metrics and analysis): - 1.25 million views for online material. - 15 courses designed for blended CD delivery offered in FY2024. - Program effectiveness metrics for government officials in FY2024: - Completion rates: 68 percent - Learning gains: 19.75 percent - End‑of‑course survey: 96 percent reported learning objectives met; 92 percent reported job relevance - STI (Singapore Regional Training Institute) FY2024: - 35 courses at STI premises; seven regional partner events. - Average learning gains: 21 percentage points; average composite satisfaction: 4.7/5 - Digital money and CBDC workstreams (S_JPNDM and related windows): - JSA Digital Money/CBDC programs aim to produce a book “Reaping Benefits and Mitigating Risks of Digital Money in Fiscal Operations”; cross‑country survey initiated. - CBDC analytics: first wave Fintech Notes and virtual Handbook chapters downloaded 17,600 times and pageviews over 30,000; second wave planned before October 2024. - Macroeconomic forecasting and nowcasting capacity building: - Nowcasting/forecasting tools advanced for Central Bank of Solomon Islands, Reserve Bank of Fiji; regional workshop in Fiji April 2024; tools integrated into policy processes. - Strengthening debt dynamics tools and CAEM development across several countries (Guinea, Maldives, Mauritania, Philippines, Sri Lanka, Tunisia). ### Monitoring, evaluation outcomes, and financial statement summary - JSA external evaluation and IMF CDSR (FY2024): - External evaluation covered May 2017–April 2022; overall assessment: 2.6 out of 4.0. - Recommendations to be incorporated into new JSA CD design (delivery modalities, resource allocation, visibility). - Administered Accounts — Japan Financial Statement FY2024 (in thousands of U.S. dollars; balance sheet and income statement highlights as of April 30, 2024, 2023 and 2022): - Cash and cash equivalents / Total assets / Total resources: - 2024: 75,810 - 2023: 96,961 - 2022: 116,525 - Income statement and changes in resources (selected lines): - Balance, beginning of the year: - 2024: 96,961 - 2023: 116 , 52 5 - 2022: 82,854 - Income earned on investments: - 2024: 4,859 - 2023: 3,485 - 2022: 69 - Contributions received: - 2024: 21,334 - 2023: 17, 315 - 2022: 59,4 4 6 - Contributions transferred (net): - 2024: (3,600) - 2023: (3,100) - 2022: (1,400) - Operating expenses: - 2024: (43,745) - 2023: (37,264) - 2022: (24,444) - Net changes in resources: - 2024: (21,151) - 2023: (19,564) - 2022: 33,671 - Balance, end of the year: - 2024: 75,810 - 2023: 96,961 - 2022: 116 , 52 5 - Audit note: IMF arranges annual audit of JSA by external auditors in connection with IMF accounts; separate certificate of completion provided to Japanese authorities. ### Operational notes, constraints, and implementation orientation for FY2025 - Implementation constraints observed: - Recruitment and staffing delays for field‑based LTX and resident advisors affected timelines (e.g., ICD macro frameworks LTX). - Political constraints suspended CD in jurisdictions (e.g., Myanmar). - Fragile and conflict‑affected states (FCS) face resource, coordination, and political constraints limiting progress (noted under STA JPN516 e‑GDDS/SDDS work). - FY2025 orientation: - Emphasis on implementation support following FY2024 legislative or diagnostic milestones (e.g., Sri Lanka PFM law and PDML implementation; Cambodia RMS III implementation; GMT implementation support in Vietnam). - Continued focus on institutionalization of tools (DDT, PAMPh2.0, nowcasting/QPM, CAEM) and on blended online learning integration to enhance preparedness for TA and surveillance missions. _Annual Report — Japan‑IMF Partnership on Capacity Development (Appendix 1)._ ### Appendix 1 presents a summary of all JSA ### Appendix 1 — Summary of JSA programs ### External partner contributions for capacity development (FY2017–2024) - Source: Capacity Development Information Management System (CDIMS). - Excludes in-kind contributions. Funds received during FY2017–24, not adjusted for Regional Training Centers cost recovered directly. - External partner shares: - Japan: 28% - European Commission: 13% - Canada: 7% - United Kingdom: 6% - Switzerland: 5% - Others: 41% ### Japan’s contributions, allocations, and activity mix (FY1990–2024) - TABLE 1 (contributions by Japan, in millions of U.S. dollars) — as reported: - FY1990 – 2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 Total FY1990 – 2024 - Japan’s Contributions 1: 558.4 28.9 33.7 30.4 33.7 44.3 59.4 17.5 21.5 82 7.8 - of which Capacity Development 2: 449.9 23.8 2 7.9 25.5 28.6 38.3 53.8 12 .8 16. 567 7. 2 - of which, COVID-19 Initiative Window: 0.0 0.0 0.0 0.0 0.0 10.0 0.0 0.0 0.0 10.0 - Digital Money Window: 0.0 0.0 0.0 0.0 0.0 0.0 15.0 0.0 0.3 15.3 - Regional Office for Asia and the Pacific: 30.8 1.7 2 .1 2.0 2 .1 2.2 2 .1 1.8 1.7 46.6 - Scholarships: 7 7. 6 3.4 3.7 2.9 3.0 3.8 3.5 2.9 3.2 104.0 - The Japan-IMF Scholarship Program for Asia: 51. 2 2.5 2.8 2.4 2.4 3.0 2.8 2.2 2.6 71.9 - Japan-IMF Scholarship Program for Advanced Studies: 26.4 0.9 0.8 0.5 0.6 0.8 0.7 0.7 0.7 32.1 - Notes attached to the table: - Until FY10, contributions to the JSA and the Japan-IMF Scholarship Program for Advanced Studies were administered under the Japan Administered Account for Selected IMF Activities (JAA) and the Framework Administered Account for Selected IMF Activities (FAA), respectively. New contributions are now administered under the Japan Subaccount under the IMF Framework Administered Account for Selected Fund Activities (SFA). The JAA and the FAA accounts are closed, with the remaining funds transferred under Japan Subaccount under SFA. - Includes $154,603 transferred to finance the operations of the Office of the Executive Director for Japan in FY11, $324,344 transferred to SPR and OBP to cover expenses in support to Japan’s G20 Presidency in FY19-20, $312,620 transferred to SPR and OBP to cover for expenses in support to Japan’s G7 Presidency in FY23-24. ### Japan’s participation in IMF capacity development multi-partner vehicles (FY2024) - FY2024 Contributions to Multi-Partner Vehicles: 3.6 (in millions of U.S. dollars) - Anti-Money Laundering/Combating the Financing of Terrorism Subaccount (AML/CFT) - Phase III: 0.6 - Ukraine Capacity Development Fund (UCDF): 2.0 - Externally Financed Appointee Subaccount (EFA): 0.5 - Global Public Finance Partnership (GPFP): 0.5 ### Activity mix over time (Japan annual contributions by activity, FY1990–2024) - Activity categories represented in Figure 3: - CD and OAP - Scholarships - Multi-Partner Initiatives - Note: Includes $154,603 transferred to finance the operations of the Office of the Executive Director for Japan in FY11, $324,344 transferred to SPR and OBP to cover expenses in support to Japan’s G20 Presidency in FY19-20, $312,620 transferred to SPR and OBP to cover for expenses in support to Japan’s G7 Presidency in FY23-24. ### Box 1 — Strengthening revenue administration and mobilization in Sri Lanka (Program ID: FAD_APD_2022_02) - Context and inputs: - Since 2023, Sri Lanka’s Inland Revenue Department (IRD) demonstrated a strong commitment to reform following a TADAT assessment in January 2023 funded by the IMF. - JSA-supported reform efforts were integrated with CD support from the IMF’s South Asia Regional Training and Technical Assistance Center (SARTTAC). - CD delivery included: an IMF Headquarters (HQ) staff visit, two FAD HQ missions, eight short-term expert assignments, peripatetic support, and a resident long-term revenue advisor introduced in August 2023. - Development partner cooperation formalized via monthly partner working group meetings led by the IMF via JSA support; partners as of March 2024 included the World Bank, Asian Development Bank, United States Treasury, USAID, UNDP, the British High Commission, and the Embassy of Japan. - Operational reforms and outputs: - Implemented VAT Refund mechanisms and preparations for repeal of simplified value-added-tax. - Enhancements in large taxpayer management and refined risk assessment protocols. - Development of a revenue authority and launch of a high-wealth individual compliance program. - Diagnostic assessment of the Excise Department (conducted simultaneously with a diagnostic assessment of the Customs Department under JSA funding program FAD_IMF_2021_03). - Initial stages of developing the next generation of the Revenue Administration Management Information System (RAMIS 3.0). - Results and indicators: - IRD revenues for 2023 increased significantly (attributed to tax rate increases and improved administrative efforts). - VAT return filing compliance increases from January 2023 to March 2024: - Large businesses: increase by 12 percent - Non-large businesses: increase by 21 percent - Electronic submission of individual income tax returns: increase by 11 percent - Management approach: - FAD CD overseen through a country-centric programmatic approach tailored to tax policy, public financial management, and revenue administration and sequenced according to the Extended Fund Facility (EFF) supported program with the IMF. - CD coordinated with other partners to bolster institutional capacity and governance, reflecting macro-critical and surveillance priorities. ### Box 2 — ICD Online Learning (ICD_IMF_2023_02) - Success story 1: Blended Financial Programming and Policies (FPP) course - Course redevelopment into a blended format in FY2024; JSA-funded delivery occurred twice in FY2024. - Delivery dates and participants: - Joint Vienna Institute (JVI) session: July 10 to August 11, 2023 - IMF session: October 2 to November 3, 2023 - Total participants: 68 - Participants represented officials from 14 and 36 countries respectively across the two sessions - Learning outcomes and feedback: - Combined average learner satisfaction: 4.6 out of 5 - Average increase in learning: 24.5 percentage points over the life of the course - 87.2 percent of learners scored above 60 percent in the post-course test - Features: asynchronous online materials, in-person workshops, negotiation simulation exercise, updated materials and case studies. - Success story 2: Strengthening synergy between training, surveillance, and technical assistance - Online courses used as prerequisites to TA missions to improve preparedness (example: RA-GAP VAT Gap Estimation Model (VGAPx) used before TA to Honduras). - Since FY2021, nearly 30 TA missions across all regions have integrated online courses as prerequisites. - Commonly integrated modules in FY2024 included VITARA, VGAPx, DDTx (The Public Debt Dynamics Tool), and CRSx (Cyber Risk Supervision), with many offerings in English, French, and Spanish. - Development of an outreach brochure for area department economists and country authorities to summarize blended and online courses aligned with surveillance-identified CD needs. - Success story 3: Data, transparency, and narratives - A dedicated dashboard for end-of-course survey data was made available internally to Fund staff in FY2024. - Automation of quantitative survey data and AI classification of qualitative responses improved processing efficiency. - FY2024 course metrics: - Overall participant satisfaction: 96 percent - Percent reporting course knowledge/skills will be useful for their job: 92 percent - Qualitative outreach: - 29 in-depth interviews featuring learners and instructors from 22 different countries captured to complement quantitative metrics. ### Box 3 — Lao P.D.R.: Multiyear CD engagement with the Central Bank through CDOT (MCM_APD_2018_01, APD_TTA_2019_01) - Structure and coordination: - Multiyear engagement initiated by CDOT through collaboration among the CDOT Director (representing APD), the monetary and FX operations advisor (MCM), and the macroeconomic advisor (ICD). - Two complementarity JSA funding programs: MCM_APD_2018_01 and APD_TTA_2019_01. - Program pillars and leadership: - Pillar (i): Enhancing the monetary policy framework (pre-FPAS CD) — led by ICD with support from CDOT macroeconomic advisor. - Pillar (ii): Strengthening monetary policy implementation via instrument development — managed by CDOT advisor in monetary and FX operations with support from MCM HQ. - Institutional commitment and progress: - Bank of Lao P.D.R. (BOL) established an internal committee led by the Deputy Governor and the Director General of the Monetary Policy Department to oversee the multiyear CD program. - Good progress achieved in less than a year since the first multiyear work plan was prepared and agreed upon in July 2023. - Outcome for IMF teams: - The multiyear CD engagement provided APD with clear insights into CD goals and activities, ensuring excellent coordination and steering efforts towards medium-term development outcomes. *Annual Report — Japan‑IMF Partnership on Capacity Development (Appendix 1).* ### Box 4. Governance and Corruption Diagnostic for Sri Lanka (LEG_IMF_2022_04) ### Box 4. Governance and Corruption Diagnostic for Sri Lanka (LEG_IMF_2022_04) ### Purpose and scope of the Diagnostic (GD) - IMF staff prepared a Diagnostic Report on Governance and Diagnostic (GD) which was published in September 2023. - The GD was prepared in collaboration with, and upon the request of, the authorities. - The GD is guided by the IMF’s 2018 Framework on Enhanced Fund Engagement on Governance. - The GD assesses: - severity and nature of corruption; - governance weaknesses and associated corruption vulnerabilities in macro-critical areas of fiscal governance; - financial sector oversight; - rule of law (judicial integrity, contract enforcement and protection of property rights); - effectiveness of anti-corruption and anti-money laundering frameworks. - IMF staff worked closely with the authorities, civil society, private sector, and international organizations supporting governance and anti-corruption reforms in Sri Lanka in preparing the GD. ### Integration with IMF program and implementation status - The GD has been integrated in IMF-supported program for Sri Lanka. - Preparation and publication of the report is a structural benchmark. - The GD recommendations contribute to governance and anti-corruption reform measures. - Based on the GD recommendations, the authorities: - prepared and published an Anti-Corruption Action Plan; - revamped the Independent Anti-Corruption Commission; - revamped the Anti-Corruption Law. - The GD has been widely publicized, featured in numerous articles in the media, and is being translated into Sinhalese and Tamil. - As a follow-up and at the authorities’ request, the IMF Legal Department will provide technical assistance to further support implementation of anti-corruption and rule of law recommendations derived from the GD. ### Nature of recommendations and reform priorities - Recommendations are informed by political economy analysis and are: - specific; - country-tailored; - actionable. - Recommendations include both structural policy measures and near-term steps focusing on the first round of reforms. - These reform priorities are expected to serve as the catalyst for a transition to stronger governance and more effective, sustainable governance and anti-corruption reforms. ### Key recommendation examples - Publish asset declarations for senior officials. - Make public procurement contracts above one billion rupees available online. - List firms receiving tax exemptions. *Source: IMF Diagnostic Report on Governance and Diagnostic (GD) prepared by IMF staff and published in September 2023; LEG_IMF_2022_04.* ### Box 10. Strengthening Tax Policy Capacity in Democratic Republic of Congo (FAD_IMF_2022_05) (continued) ### Box 10. Strengthening Tax Policy Capacity in Democratic Republic of Congo (FAD_IMF_2022_05) (continued) ### Infrastructure Governance Facility II (FAD_IMF_2022_06) - In April 2024, FAD and the Caucuses, Central Asia, and Mongolia Technical Advice Center (CCAMTAC) held a joint workshop on improving infrastructure governance (IG) in the region. - Workshop formats: - Lectures on strategic planning, appraisal, risk management, budgeting, project and portfolio management and SOE public investment. - A hands-on practical exercise simulating megaproject appraisal, risk analysis and budgeting. - Country cases from each participating country, culminating in proposed reform strategies to strengthen IG. - Pre-workshop survey: delegates filled out a survey on the national situation to tailor the event to country needs. - Country readiness: - Six countries have undertaken PIMAs (all financed through the JSA-IG Facility) and developed targeted reform plans. - Other countries are at much earlier stages of reform. - Evidence that reform plans from PIMAs are being implemented, sometimes with IMF and other development partner support. - Key learning outcomes from exercises: - Opportunity to move beyond theory and apply core concepts in work-simulation settings. - Hands-on exercise provided practical application of emerging IG topics such as managing major project risks. - The session on public investment by SOEs showcased diverse regional approaches and sparked particular interest. - Country-prioritized reforms for advancing public investment management (PIM): - Digitalization of PIM processes to reduce transaction costs. - Strengthening legal frameworks. - Supporting institutions and processes, such as setting up PIM units. - Tools and training on project selection, monitoring, transparency, and supervision of investment plans. ### Chad DDT Project (ICD_IMF_2021_05) - Context: - Chad’s debt vulnerabilities declined significantly since the beginning of the 2017 Fund-supported program, but the country remains at high risk of external debt distress. - Structural factors limiting debt-carrying capacity: weak institutional capacity, low remittances, and low import coverage of foreign exchange reserves. - The economy was severely impacted by the twin COVID-19 pandemic and terms of trade shocks, leading to a weaker economic outlook than previously envisaged. - Objectives of the 2021 technical support (financed by the JSA COVID-19 Macroframeworks): - Strengthen knowledge, skills and capacity of a cohort of staff from Minister of Finance and Budget to: - Forecast public debt in local and foreign currency, including effects of intra-year exchange rate fluctuations on public debt. - Compute fiscal adjustment paths needed to achieve a debt target. - Assess the possible impact of shocks on the debt-path. - Implementation: - Six missions from 2021 until conclusion in November 2022: one virtual scoping, four additional virtual missions, and one in-person mission. - Training objectives for staff: - Define data requirements and assess internal consistency. - Run debt projections in baseline and alternative shock scenarios using the Debt Dynamics Tool (DDT). - Analyze characteristics of resulting debt paths. - Assess implications of different policy settings on debt outcomes and risks. - Develop reporting options of analytical outputs, including built-in graphics of baseline and risk scenarios (including fan charts) and standardized tables. - Subsequent analysis broadened to include gross financing needs and below the line items, and impact analysis of macro-fiscal shocks on solvency and liquidity indicators. - Project incorporated considerations such as debt-service rescheduling within the G20 Common Framework Debt Treatment and alternative borrowing strategies. - Outcomes: - Tool fully institutionalized and provided a solid basis for preparation of the National Development Plan 2023-28 projections. - MoF staff now able to: - Assess accuracy of new data. - Make baseline projections of the debt path and evaluate plausibility with economic and financial judgement. - Generate a range of alternative scenarios. - Assess implications of the National Medium-Term Debt Strategy (MTDS) data through incorporation into the tool. - Medium- and long-term benefits: regular use of the DDT should improve fiscal and debt policy decision-making, including aspects from G20 Framework debt relief implementation. - Chadian staff began regularly producing a Note on Public Debt Dynamics structured in four sections: - (i) assessment of the macroeconomic context; - (ii) analysis of recent debt trends; - (iii) updated evaluation of medium- and long-term debt scenarios; and - (iv) risk assessment, considering departures from macroeconomic and fiscal central assumptions. - Visual outputs (from DDT) summarized: - Breakdown of contributions to public debt growth (top panel): listed components include Primary deficit, Real GDP growth, Real interest rate, Exchange rate depreciation, Other debt-creating flows, Residual. - Debt stock in alternative scenarios (bottom panel): scenarios include Customized Adj, Baseline, Constant primary balance, Shock to real GDP growth, Shock to primary balance, Historical. - Time series labels preserved: Projection 2015–2029; Cumulative 2020–2030. - Numerical chart axes presented in the source with integer ticks (e.g., 15, 10, 5, 0, –5, –10, –15, –20 and 0, 20, 40, 60). ### BSP’s PAMPh2.0 Project (ICD_IMF_2021_05) - Project achievements: - BSP has completed a multiyear FPAS modernization project; the Policy Analysis Model for the Philippines, version 2.0 (PAMPh2.0), has been formally adopted. - PAMPh2.0 enables forward-looking monetary policy and advanced quantitative integrated policy analysis. - Model-based forecasting and risk scenarios provide quantitative assessments of policy responses to complex economic shocks. - PAMPh2.0 aligns BSP’s FPAS framework with best international practices under an inflation-targeting regime. - Timeline and institutional adoption: - BSP will transition to PAMPh2.0 as its primary operational model by August 2024, following rounds of shadow forecasting. - BSP committed to jointly publishing PAMPh2.0 by Q2 2024. - A joint IMF Working Paper is scheduled for publication in June 2024; a comprehensive TA report will be produced in Fall 2024. - Implementation enablers and lessons: - Dedicated analytical team and strong management engagement, including support from the Governor and Senior Managers. - Full expertise transfer achieved through sufficient time for the Economic and Financial Forecasting team to jointly build the macroframework with the IMF. - Effective management engagement, transparent communication, collaboration, and visibility were key to success. - Regional technical workshops enhanced visibility. - Close coordination with other IMF CD delivery departments (APD, MCM) and development partners enriched policy discussions and alignment with Article IV consultation. - Funding acknowledgement: - The IMF extends gratitude to the JSA for funding that was instrumental in achieving these advancements. ### Nowcasting Monetary Policy Workshop (ICD_APD_2022_03) - Rationale: - Lack of timely high-frequency data, such as quarterly GDP, is a key obstacle for monetary policy decision makers. - Nowcasting fills an important gap but is not a substitute for producing quality and timely GDP statistics. - Workshop details: - April 2024 workshop facilitated by two PFTAC advisers, Mr. Andrew Beaumont and Mr. Ian Nield, and Mr. Dyna Heng (IMF HQ). - Venue: Suva; dates: from the 10th to the 19th of April 2024. - Participants: Twenty-six officials, half female. - High-level attendees: Two Deputy Central Bank Governors (Mr. Jeffrey Yabom, Bank of Papua New Guinea; Ms. Margaret Tafunai, Central Bank of Solomon Islands) attended all sessions. Two Governors (Mr. Ali, Reserve Bank of Fiji; Dr. Forau, CBSI) attended sessions on the 17th of April and participated in a Governors’ panel with Deputy Governors. - Duration and format: Eight days of presentations, peer exchanges, and training on nowcasting and monetary policy topics. - Participants presented their nowcasting models and tools developed recently. - Reception and follow-up: - Governors, Deputy Governors and officials welcomed the initiative and hoped PFTAC would facilitate similar annual events. - Event primarily supported by the Government of Japan with additional funding from PFTAC donors. ### Blended Course on External Sector Statistics (STA_APD_2021_01) - Course overview: - One-week regional blended course on External Debt Statistics (EDS) held March 18–23, 2024, at the Bank of Thailand in Bangkok. - Preceded by a self-paced online session from the EDSx online course (Data for Decisions (D4D) Fund) in February 2024. - Course piloted blended modality for future CDOT ESS trainings. - Participants: - Twenty-four officials from Cambodia, Lao P.D.R., Nauru, Papua New Guinea, Samoa, Timor-Leste, Tonga, and Vietnam. - Participants represented central banks, ministries of finance, and statistical offices involved in compiling EDS, International Investment Position, Balance of Payments, Public Debt Statistics, and National Accounts. - Course content and outcomes: - Thorough understanding of EDS conceptual framework and practical guidance to overcome EDS collection and compilation challenges. - Compilation exercises and practical compilation approach discussions. - Coverage of recording specific external debt instruments commonly used by CDOT beneficiary countries. - Participant exchanges highlighted challenges in capturing private and direct investment debt, significant in many represented countries. - Emphasized the value of debt transparency for debt relief initiatives such as the G20 Debt Service Suspension Initiative and the G20 Common Framework for Debt Treatments. - Concluding roundtable consensus and urgent TA needs: - Improve interagency data sharing procedures to enhance EDS compilation. - Urgent TA needs primarily focused on compiling private sector debt and direct investment debt. - Accurate EDS compilation is critical for economic policymaking, IMF surveillance, and program monitoring, especially for CDOT beneficiary countries with open economies and external debt beyond the public sector. - Course instructors and venue: - Bank of Thailand, Bangkok. March 18–23, 2024. - Instructors: Mr. Renato Perez and Ms. Angsupalee Wacharakiat. ### Strengthening Government Capacity in Expenditure Policy Analysis FY2024-26 (FAD_VNM_2023_01) - Vietnam engagement objectives: - Address lack of instruments and capacity to produce reliable, long-term projections of pension expenditures and contribution revenues. - Develop realistic distributional analyses to explain adequacy and equity aspects of pension finances. - Focus areas: - (a) develop and transfer a microsimulation model for long-term pension modelling and potential application to other public spending contingent on individual demographic, labor market, and insurance status; - (b) identify areas where IMF TA can help achieve Vietnam’s medium-term labor market and social policy objectives; - (c) provide ad-hoc advice and consultation on social policy matters. - Implementation and outputs: - Pension model finalized; IMF staff delivered several in-person missions and online consultations for data collection, cleaning, model input, and scenario analyses. - Users’ manual transferred to Vietnam Social Security (VSS); VSS management indicated it met expectations and provides a sound basis for continued use. - Expected policy outcome: - Improved preparedness of VSS, Ministry of Labor, Insurance and Social Assistance, and MoF to analyze long-term financial position of social security and assess fiscal and welfare implications of regulatory measures and changes in macroeconomic circumstances. - IMF surveillance identifies pension reform as important to address unfunded pension liabilities and improve coverage, adequacy, sustainability, and intra- and inter-generational fairness of pensions. - Funding and requests: - Current engagement funded by the JSA. - Authorities requested continuation of ongoing modelling activity and expansion into new areas, such as comprehensive assessment of social safety nets. - Palau engagement summary: - Palau struggles to recruit and retain qualified staff for essential public services; acute for higher-skilled positions amid high net emigration. - FAD missions: July 2023 and November 2023; further mission planned in May 2024 to support implementation of prior recommendations. - Outcomes: - President of the Republic of Palau signed an Executive Order establishing the Employment and Compensation Committee (ECC), a central recommendation from July 2023 mission, before the November 2023 mission. - Authorities requested further FAD support to develop a medium-term reform strategy and commissioned additional reviews recommended by FAD. - FAD’s work catalyzed other CD providers: - World Bank agreed to conduct a functional review of Palau’s government following FAD intermediation. - An ADB consultant attached to Palau’s MoF was assigned to support Ministry’s use of a compensation spending projection model developed by FAD missions. - FAD support aims to reform government employment and compensation policies to ensure adequate staffing for public service delivery and fiscal sustainability. - JSA support acknowledged in the published report and orally in a debrief with development partners on November 21, 2023, attended by Japanese Ambassador Extraordinary and Plenipotentiary Hiroyuki Orikasa. - Kiribati engagement summary: - Kiribati provides agricultural output price subsidies for copra (dried coconut) with significant technical and allocative efficiency challenges, inadequate equitable distributional outcomes, and fiscal unsustainability. - FAD provided technical support analyzing the copra subsidy scheme using household-level, administrative, and cross-country datasets and in-country interviews. - FAD developed a novel methodology to quantify the agricultural output subsidy and its fiscal cost, assess incidence across geographic and welfare groups, and analyze the size and source of technical inefficiencies within the copra sector. *Japan-IMF Partnership on Capacity Development — Annual Report* ### Box 16. Strengthening Government Capacity in Expenditure Policy Analysis FY2024-26 (FAD_VNM_2023_01) (continued) ### Box 16. Strengthening Government Capacity in Expenditure Policy Analysis FY2024-26 (FAD_VNM_2023_01) (continued) ### Subsidy analysis and fiscal impact (Kiribati copra scheme) - IMF staff developed estimates of the subsidy content of the scheme and showed that the government provides a subsidization rate of 91 percent. - The total subsidy in 2023 is estimated at 7.7 percent of GDP, which rose from past years due both to the doubling of the administered price and an increase in production. - The scheme contributes to fiscal sustainability challenges. ### Capacity development (CD) engagement and reform options - The CD laid out reform options to address the fiscal sustainability challenges posed by the copra subsidy scheme. - The CD provided considerations for reform implementation. - The CD engagement can help the authorities address the above-mentioned challenges while also informing the implementation of aspects of the country’s 20-year Kiribati Vision plan, which aspires to create economic opportunities for the rural population beyond copra production. - The forthcoming 2024 Article IV staff report includes a Selected Issues Paper that develops a theoretical model of how the copra subsidies may be distorting export and labor markets. - Close coordination between the area department team and FAD staff enabled synergies between the selected issues paper analysis and the CD. ### Outreach and coordination activities - During transit in Fiji, the mission head visited the JICA office in Suva and presented the key findings to the Japanese Ambassador and key JICA staff. - The mission’s findings were presented to the authorities, which included the Director of the National Economic and Planning Office and various staff from the Ministry of Finance and Economic Development and other ministries and agencies. ### Restoring the Preparation of the Government Financial Operations Table (TOFE) in Comoros (Box 17 summary) - The TOFE is pivotal to monitor budget and financial in-year execution and to discuss with the IMF in the context of a program or for surveillance purposes. - Comoros experienced difficulties producing the TOFE for several years, complicating the on-going Extended Credit Facility (ECF) supported program. - The Ministry of Finance Budget and Banking Sector (MFBBS), responsible for TOFE preparation, faced challenges consolidating and analyzing fiscal and financial data due to poor cooperation between administrative units and limited capacities. - Problems included regular delays in TOFE production, significant amounts of revenues, expenditure or financing not properly recorded, poor quality of fiscal and financial data, discrepancies, and recurrent errors. - IMF Fiscal Affairs Department (FAD) implemented a CD project funded by the Japanese government aimed at improving centralization and analysis of the TOFE. - Outcomes achieved: - The preparation process of the quarterly TOFE is restored, anchored in the MFBBS organization with the installation of a new TOFE committee and clarification of stakeholders’ roles and duties. - The quarterly TOFE now provides more fiscal information and is more accurate. - The underlying Excel tool used for TOFE preparation has been cleaned up. - Significant improvement of stakeholders’ capacities through several trainings, in collaboration with STA. - The assistance benefits monitoring of the ECF by providing the country team with consistent, comprehensive, and reliable fiscal and financial information for review. ### JSA programmatic approach, regional coverage, sectoral priorities, and monitoring - Programmatic approach: - Close dialogue and strategic consultations support Results-Based Management (RBM) integration into CD prioritization, design, and delivery. - CD integration with lending and surveillance activities and countries’ ownership are associated with better CD outcomes. - Hands-on advice, peer learning, training, seminars, workshops, LTXs and STXs, and Japanese experts are combined to maximize effectiveness. - Regional commitments (TABLE 3 excerpts, FY1993–2024, In millions of U.S. dollars): - Africa: FY1993 -2016 = 93.9; FY2017 = 5.4; FY2018 = 3.2; FY2019 = 4.0; FY2020 = 2.4; FY2021 = 3.1; FY2022 = 1.8; FY2023 = 4.3; FY2024 = 4.0; FY1993–2024 Total = 122.0; Total% = 19% - Asia and Pacific: FY1993 -2016 = 200.0; FY2017 = 13.5; FY2018 = 15.8; FY2019 = 17.6; FY2020 = 17.3; FY2021 = 15.2; FY2022 = 9.5; FY2023 = 10.0; FY2024 = 11.9; FY1993–2024 Total = 310.8; Total% = 49% - Eastern Europe: FY1993 -2016 = 38.9; FY1993–2024 Total = 38.9; Total% = 6% - Europe: FY1993 -2016 = 30.4; FY1993–2024 Total = 30.4; Total% = 5% - Latin America and Caribbean: FY1993 -2016 = 15.5; FY1993–2024 Total = 15.5; Total% = 2% - Middle East and Central Asia: FY1993 -2016 = 27.8; FY2017 = 0.7; FY2018 = 1.8; FY2019 = 1.7; FY1993–2024 Total = 32.0; Total% = 5% - Multiple Regions: FY1993 -2016 = 22.9; FY2017 = 0.5; FY2018 = 1.5; FY2019 = 1.5; FY2020 = 3.8; FY2021 = 7.3; FY2022 = 12.5; FY2023 = 20.9; FY2024 = 16.2; FY1993–2024 Total = 87.2; Total% = 14% - Total (all regions): FY1993 -2016 = 429.5; FY2017 = 20.0; FY2018 = 22.4; FY2019 = 24.9; FY2020 = 23.4; FY2021 = 25.5; FY2022 = 23.8; FY2023 = 35.2; FY2024 = 32.1; FY1993–2024 Total = 636.9; Total% = 100% - Note: Source: Institute for Capacity Development, IMF. (Footnotes in source clarify original budgets, exclusions, trust fund fees, and regional classification changes.) - Sectoral priorities (TABLE 4 excerpts, FY1993–2024, In millions of U.S. dollars): - Public Finances: FY1993 -2016 = 144.2; FY2017 = 7.6; FY2018 = 9.6; FY2019 = 10.9; FY2020 = 11.1; FY2021 = 12.1; FY2022 = 12.1; FY2023 = 18.0; FY2024 = 14.2; FY1993–2024 Total = 239.9; Total% = 38% (Fiscal topics represented the largest share, with 44 percent of yearly commitments in FY2024.) - Monetary and Financial Systems: FY1993 -2016 = 138.7; FY2017 = 4.9; FY2018 = 4.1; FY2019 = 7.0; FY2020 = 4.6; FY2021 = 5.3; FY2022 = 3.5; FY2023 = 5.8; FY2024 = 6.7; FY1993–2024 Total = 180.7; Total% = 28% - Statistics: FY1993 -2016 = 75.7; FY2017 = 3.1; FY2018 = 3.5; FY2019 = 2.4; FY2020 = 2.4; FY2021 = 2.3; FY2022 = 1.5; FY2023 = 2.0; FY2024 = 2.0; FY1993–2024 Total = 94.9; Total% = 15% - Macroeconomic Frameworks/Training: FY1993 -2016 = 46.7; FY2017 = 2.3; FY2018 = 3.8; FY2019 = 4.1; FY2020 = 4.3; FY2021 = 4.6; FY2022 = 5.6; FY2023 = 8.6; FY2024 = 8.8; FY1993–2024 Total = 88.7; Total% = 14% - Legal Frameworks: FY1993 -2016 = 10.7; FY2017 = 0.6; FY2018 = 0.2; FY2022 = 0.6; FY2023 = 0.6; FY2024 = 0.4; FY1993–2024 Total = 13.0; Total% = 2% - Others: FY1993 -2016 = 13.5; FY2017 = 1.6; FY2018 = 1.1; FY2019 = 0.5; FY2020 = 1.1; FY2021 = 1.2; FY2022 = 0.5; FY2023 = 0.2; FY1993–2024 Total = 19.7; Total% = 3% - Total (all topics): FY1993 -2016 = 429.5; FY2017 = 20.0; FY2018 = 22.4; FY2019 = 24.9; FY2020 = 23.4; FY2021 = 25.5; FY2022 = 23.8; FY2023 = 35.2; FY2024 = 32.1; FY1993–2024 Total = 636.9; Total% = 100% - Notes: Source: Institute for Capacity Development, IMF. Topic names have been recategorized from FY24 Annual Report; footnotes address budget approvals, exclusions, and trust fund fees. ### Monitoring and evaluation of JSA capacity development - Monitoring and evaluation are conducted through regular self-assessments and evaluations by independent consultants, as well as IMF-wide periodic reviews. - In FY2024, the JSA external evaluation and the IMF's quinquennial CDSR were completed; Japanese authorities provided substantial input. - The JSA external evaluation covered CD activities from May 2017 to April 2022, using OECD/DAC criteria, and the overall assessment was rated 2.6 out of 4.0 (1 = poor and 4 = excellent). - Recommendations from the external evaluation address CD delivery modalities, resource allocation across regions and individual country projects, and visibility; these recommendations will be incorporated into new JSA CD. - RBM at the IMF is used to design interventions and assess impacts, supporting CDMAP planning and prioritization and enabling effective evaluations. - IMF staff share an interim self-assessment with Japan of each JSA program towards the end of the fiscal year to evaluate implementation progress, results, challenges, and coordination with other CD providers. *Source: Japan-IMF Partnership on Capacity Development, Annual Report (excerpts).* ### Box 18. Visibility Highlight in FY2024 ### Box 18. Visibility Highlight in FY2024 ### Japan’s financial support and visible engagement - The IMF regularly communicates on the financial support of Japan as part of the strategic CD partnership between the IMF and Japan; featuring funding from Japan occurred through various channels throughout the fiscal year. - Events and visibility items in FY2024 included: - Event with the Minister of Finance and the Governor of the National Bank of Ukraine, and donor partner representatives (including Japan) announcing the first contributions to the UCDF, October 2023. - 2023 Annual Meetings (Marrakech) and MD Georgieva speaking at the 25th anniversary event of STI, November 2023. - Event at 2024 Spring Meetings wherein the FDMD announced the first nine donor partners contributing to the GPFP, together with its representatives (including Japan). - FDMD video on 10 years of the Online Learning Program, March 2024, featuring the statement: “I would very much like to thank the Government of Japan for their generous financial support for this program”. - Visibility for Japan on IMF.org. ### Regional Office for Asia and the Pacific (OAP): role and priorities in FY2024 - OAP was established in Tokyo in 1997 as the IMF’s Regional Office for Asia and the Pacific. - In FY2024, OAP aligned priorities to leverage its role as the main hub for the Fund’s presence in the region and to fortify OAP as a center for peer-to-peer learning complementary to regional training centers (STI) and TA offices (CDOT and SARTTAC). - Key functions carried out by OAP in FY2024: - Facilitate policy dialogue and capacity development (CD) in Asia. - Contribute to regional cooperation and surveillance work. - Communicate the Fund’s messages to Japanese and regional audiences and promote recruitment from the region and Japan. - Act as a center for peer-to-peer learning by using its Tokyo location and convening power. ### Public relations and outreach activities by OAP in FY2024 - OAP leveraged Japan’s G7 Presidency and the 30th anniversary of JISPA to reach wider publics in Japan and the region via multiple platforms. - Support for Managing Director visits and G7 events: - Supported visits of Managing Director Kristalina Georgieva to Niigata (G7 Finance Ministers and Central Bank Governors Meetings) and Hiroshima (G7 Leaders Meeting) and helped disseminate institutional messages through social media. - JISPA 30th anniversary campaign and conference: - Hosted a comprehensive public campaign and celebratory conference on CD in Asia on November 17. - Created a special website with messages, video testimonials, a historical timeline, impact statistics, and alumni social posts with #JISPA30. - Video stories featured on OAP’s Facebook page and shared by ICD and partner universities. - OAP’s outreach channels and activities: - Organized and participated in seminars and workshops with universities, think tanks, central banks, finance ministries, and other partners. - Ran Asia Pacific Regional Seminars and three Macroeconomist Training Program courses for university students. - Maintained English/Japanese websites (including the JISPA specific site), social media platforms, and an online newsletter. - Leveraged media engagements and provided briefings on IMF role, operations, and career opportunities. ### Managing regional relations and surveillance in FY2024 - OAP coordinates IMF relations with regional forums including APEC, ASEAN and ASEAN+3/AMRO, EMEAP, SEACEN, ASEM, and Pacific Island Countries Central Bank Governors’ Meeting. - OAP participates by invitation, offers presentations on global and regional economic developments, and keeps HQ informed of regional views and initiatives. - OAP maintains close contacts with international organizations and diplomatic missions across the region. - Surveillance and research contributions in FY2024: - OAP staff monitor and report regularly to HQ and staff several IMF country teams. - OAP economists contributed to missions and related work for Brunei Darussalam, China, India, Japan, and the Federated States of Micronesia. - OAP economists conduct research on regional economic policy issues and support IMF engagement with member countries and review of IMF research and policy papers. ### Delivering capacity development (CD) financed by Japan, FY2024 - OAP organizes seminars and conferences on CD areas to meet policymakers’ needs; these events are financed with the support of the Government of Japan. - Programs and offerings: - JISPA (Japan-IMF Scholarship Program for Asia): about 65 junior officials from Asia pursue graduate studies in Japan each year. - JISPA Continuing Education Program (JISPA-CE) provides alumni opportunities to learn topical issues from ICD and STI instructors and to refresh regional networks. - Japan-IMF Macroeconomic Seminar for Asia (JIMS): week-long executive training course on macroeconomics at the graduate level for senior officials. - Peer-to-peer CD: OAP cohosted Fiscal and Debt Peer Learning Series with STI and a high-level event on IMF-Japan Partnership in Capacity Development on Fiscal Topics. - OAP assists FAD with organizing the Tokyo Fiscal Forum and the Tokyo Tax Conference. ### Japan-IMF Scholarship Program for Asia (JISPA)—FY2024 highlights and statistics - JISPA background and scope: - Established in 1993; supports graduate studies in macroeconomics or related fields in leading universities in Japan for promising junior officials from economic agencies in Asia and the Pacific, and in Central Asia. - Offers a partnership track (tailored master’s programs in four partner universities) and an open track (graduate programs including PhD degrees in any Japanese university). - Partnership-track partner universities: National Graduate Institute for Policy Studies, Hitotsubashi University, International University of Japan, and The University of Tokyo. - JISPA program features in FY2024: - Two-and-a-half-month orientation program for incoming scholars. - Seminars and events organized by OAP for scholars. - For the 2024 academic year, JISPA awarded 34 new scholarships and supported 63 scholars in total, including 4 PhD candidates. - The 2024 academic year of JISPA runs from October 1, 2023 to September 30, 2024. - OAP organized the annual summer workshop with University of Tokyo in September 2023 for first-year completers. - Cumulative program statistics: - Since 1993, the program has awarded 967 scholarships and 881 scholars have graduated. - As of FY2024, the JISPA alumni community includes senior policymakers, with some alumni attaining roles such as Governor and Vice Minister. - JISPA eligibility (countries listed): - The scholarship program is open to candidates from Bangladesh, Bhutan, Cambodia, India, Indonesia, Kazakhstan, the Kyrgyz Republic, the Lao People’s Democratic Republic, Malaysia, Maldives, Mongolia, Nepal, Pacific Island countries, Papua New Guinea, the Philippines, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan, and Vietnam. - JISPA alumni distribution highlights (1993–2024): - Total scholars: 967; Total graduates: 881. - Top country distributions (Number, Percent, of which graduates): - Uzbekistan: 103, 10.7%, 96 - China: 102, 10.5%, 102 - Vietnam: 102, 10.5%, 99 - Myanmar: 85, 8.8%, 79 - Cambodia: 81, 8.4%, 73 - Mongolia: 68, 7.0%, 56 - Indonesia: 57, 5.9%, 48 - Kyrgyz Republic: 54, 5.6%, 51 - Thailand: 54, 5.6%, 47 - Bangladesh: 50, 5.2%, 44 - Kazakhstan: 45, 4.7%, 42 - Philippines: 41, 4.2%, 36 - Lao PDR: 34, 3.5%, 31 - India: 24, 2.5%, 22 - Nepal: 19, 2.0%, 16 - Tajikistan: 10, 1.0%, 9 - Bhutan: 8, 0.8%, 7 - Sri Lanka: 8, 0.8%, 6 - Maldives: 7, 0.7%, 5 - Malaysia: 4, 0.4%, 4 - Turkmenistan: 4, 0.4%, 3 - Fiji: 3, 0.3%, 3 - Timor-Leste: 2, 0.2%, 1 - Tonga: 2, 0.2%, 1 ### Japan-IMF Scholarship Program for Advanced Studies (JISP) - JISP objectives and operation: - Japan provides scholarships to Japanese nationals to study macroeconomics at the doctoral level to prepare them for careers at the IMF; the JISP began operating in 1996. - Since 2009 only Japanese nationals have been eligible, and starting in 2024 up to four scholars will be admitted annually. - Scholars enroll in doctoral programs outside Japan (majority in the United States; some in Canada, Europe, and Australia). - Scholarship covers tuition and reasonable costs for two years and includes a paid summer internship at the IMF. - New scholars attend a short orientation in Washington, D.C., and are invited to IMF conferences and meetings. - After graduation, scholars are required to apply to the IMF Economist Program (EP) and accept an EP position if offered. - JISP outcomes and staffing links: - Since inception, 37 JISP alumni, 17 of whom were Japanese, have joined the IMF. - Twenty-six are still working at the IMF as of May 2024. - The most recent scholar joined the Fund in September 2022. - Of the 26 former JISP alumni currently on staff, 21 were hired through the EP and the remainder joined at the mid-career level. - JISP is administered by the IMF in collaboration with the Institute of International Education (IIE). - JISP program application and acceptance trends: - Table of Applicants and Scholars Who Accepted Award, 2009–2024, is maintained (source: ICD); cohorts include adjustments for SP20.05 (Program years 2020-22) where five scholars accepted but one deferred until 2021. ### FY2024 JSA Technical Assistance and Training—Selected FY2024 Program budget lines (Overall Program Budget) - APD/FAD/FAD JSA Tax Policy Reform in Selected Asian Countries FY2024-25: 2.0 - APD/FAD/FAD JSA Strengthening Public Financial Management in Selected Southeast Asian Countries FY2024-26: 4.9 - APD/FAD Thirteenth IMF-Japan High-Level Tax Conference for Asian Countries in Tokyo: 0.2 - APD/FAD/FAD JSA Public Financial Management Support for Sri Lanka FY2024-25: 1.9 - APD/FAD/FAD JSA Strengthening Government Capacity in Expenditure Policy Analysis FY2024-26: 0.9 - APD/MCM Strengthening macroprudential policy implementation in Mongolia: 2.1 - APD/MCM Strengthening Debt Management in Sri Lanka, Maldives and Lao PDR- LTX Based in SARTTAC: 2.0 - Global MCM Funding Program for Japan Appointee: 0.3 - Global ICD The Japan-IMF Flagship Partnership on Online Learning: 4.9 - Global STA Improving Data Dissemination for Globally Selected Countries - Phase II: 1.5 *List includes programs under the regular JSA, COVID-19 and Digital Money windows.* _Annual Report | Japan-IMF Partnership on Capacity Development_ ### APPENDIX II. ### APPENDIX II. Joint Japan-IMF Field Visits, FY1996–2024 ### Joint field visits (chronological list) - (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 JVI, June 2001 - (9) Cambodia and STI, June 2002 - (10) Mongolia and Timor-Leste, September 2002 - (11) Indonesia 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) Philippines 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) Cambodia, Lao P.D.R., STI, and CDOT, May 2016 - (21) SARTTAC in India, and Nepal, February 2017 - (22) Cambodia and Sri Lanka, February 2018 - (23) Cambodia and Myanmar, March 2019 - (24) Cambodia, June 2024 ### Notes on 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 Program ### Program purpose and establishment - The Externally Financed Appointee (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. - 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. ### Roles, supervision, and participation - 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. - To date, 12 countries, including Japan, participate in the EFA and have made corresponding financial contributions to the program. ### Japanese participation and staffing (exact figures) - A total of fifteen Japanese officials have been hired under the program. - Three officials currently participate in the program; two economists, one legal expert. - One official will conclude his assignment and will return to Japan in summer 2024. - Two officials will join the program in July 2024. - 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 FY2024 (In thousands of U.S. dollars) ### Balance Sheet as of April 30, 2024, 2023 and 2022 (Assets) - Cash and cash equivalents: - 2024: 75,810 - 2023: 96,961 - 2022: 116,525 - Total assets: - 2024: 75,810 - 2023: 96,961 - 2022: 116,525 - Resources — Total resources: - 2024: 75,810 - 2023: 96,961 - 2022: 116,525 ### Income Statements and Changes in Resources for the Years Ended April 30, 2024, 2023 and 2022 - Balance, beginning of the year: - 2024: 96,961 - 2023: 116 , 52 5 - 2022: 82,854 - Income earned on investments: - 2024: 4,859 - 2023: 3,485 - 2022: 69 - Contributions received: - 2024: 21,334 - 2023: 17, 315 - 2022: 59,4 4 6 - Contributions transferred (net): - 2024: (3,600) - 2023: (3,100) - 2022: (1,400) - Operating expenses: - 2024: (43,745) - 2023: (37,264) - 2022: (24,444) - Net changes in resources: - 2024: (21,151) - 2023: (19,564) - 2022: 33,671 - Balance, end of the year: - 2024: 75,810 - 2023: 96,961 - 2022: 116 , 52 5 ### Audit note - 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. - Net of accruals. The financial statement of the Administered Accounts in the IMF annual report, which includes this Subaccount, reports year end accruals separately. *Source: Annual Report, Japan-IMF Partnership on Capacity Development (APPENDIX II–IV).* ### ANNEX I. ### ANNEX I. JSA Technical Assistance and Training—FY2024 Portfolio Detailed ### Portfolio-level program listings and FY24 budgetary positions - FAD_APD_2023_02 (JPN141) — FAD JSA Tax Policy Reform in Selected Asian Countries FY24-25 - Overall Program Budget: 2.0 - Approved Budget through FY24: 0.8 - Expenses through FY24: 0.7 - FAD_APD_2023_03 (JPN139) — FAD JSA Strengthening Public Financial Management in Selected Southeast Asian Countries FY24-26 - Overall Program Budget: 4.9 - Approved Budget through FY24: 1.9 - Expenses through FY24: 1.2 - FAD_APD_2023_04 (JPN137) — Thirteenth IMF-Japan High-Level Tax Conference for Asian Countries in Tokyo (Operationally Closed) - Overall Program Budget: 0.2 - Approved Budget through FY24: 0.2 - Expenses through FY24: 0.2 - FAD_LKA_2023_01 (JPN140) — FAD JSA Public Financial Management Support for Sri Lanka FY24-25 - Overall Program Budget: 1.9 - Approved Budget through FY24: 0.9 - Expenses through FY24: 0.6 - FAD_VNM_2023_01 (JPN138) — FAD JSA Strengthening Government Capacity in Expenditure Policy Analysis FY24-26 - Overall Program Budget: 0.9 - Approved Budget through FY24: 0.7 - Expenses through FY24: 0.8 - MCM_MNG_2023_01 (JPN424) — Strengthening macroprudential policy implementation in Mongolia - Overall Program Budget: 2.1 - Approved Budget through FY24: 0.7 - Expenses through FY24: 0.2 - MCM_APD_2023_03 (JPN425) — Strengthening Debt Management in Sri Lanka, Maldives and Lao PDR- LTX Based in SARTTAC - Overall Program Budget: 2.0 - Approved Budget through FY24: 0.6 - Expenses through FY24: 0.1 - MCM_IMF_2024_03 (JPN426) — Funding Program for Japan Appointee - Overall Program Budget: 0.3 - Approved Budget through FY24: 0.3 - Expenses through FY24: 0.1 - ICD_AFR_2023_01 (JPN211) — Supporting the Development of Macroeconomic Frameworks - Overall Program Budget: 3.0 - Approved Budget through FY24: 1.1 - Expenses through FY24: 0.0 - ICD_IMF_2023_02 (JPN210) — The Japan-IMF Flagship Partnership on Online Learning - Overall Program Budget: 4.9 - Approved Budget through FY24: 2.7 - Expenses through FY24: 2.7 - STA_IMF_2023_02 (JPN516) — Improving Data Dissemination for Globally Selected Countries - Phase II - Overall Program Budget: 1.5 - Approved Budget through FY24: 0.7 - Expenses through FY24: 0.2 - FAD_IMF_2023_05 (S_JPNDM) — JSA Digital Money/CBDC and Fiscal Policy, Operations and Management (FY23 window) - Overall Program Budget: 2.8 - Approved Budget through FY24: 1.2 - Expenses through FY24: 0.1 - STA_APD_2022_01 (JPN515) — Strengthen Macroeconomic and Financial Statistics Compilation and Dissemination in the Asia-Pacific region (JSA4) (FY23 window) - Overall Program Budget: 2.6 - Approved Budget through FY24: 1.5 - Expenses through FY24: 1.3 (Selected additional FY23–FY21 programs are listed in the source with their Overall Program Budget, Approved Budget through FY24, and Expenses through FY24, including FAD_AFR_2022_13: 8.0 / 5.3 / 4.4; FAD_APD_2022_02: 5.7 / 3.3 / 2.9; FAD_IMF_2022_05: 4.5 / 4.2 / 2.7; FAD_IMF_2022_06: 8.3 / 5.4 / 6.6; and others as shown.) ### FY2024 program highlights and substantive findings (by program) - FAD JSA Tax Policy Reform in Selected Asian Countries (JPN141; May 1, 2023 to April 30, 2025) - Purpose: assist Cambodia, Sri Lanka, and Vietnam in improving tax and non-tax revenue policies; increase revenues while balancing efficiency and equity; build capacity producing tax expenditures reports; develop Tax Policy Units (TPUs). - Cambodia: supported formulation of tax policy component of Cambodia’s Third Revenue Mobilization Strategy 2024-2028 (RMS III); delivered a general diagnostic mission focusing on cross-border tax issues, taxation of personal income, VAT design, excise taxation and carbon pricing options; launch of the Strategy delayed; further CD support expected in FY2025 with focus on implementation; discussions started on CD on tax revenue forecasting to be delivered in early FY2025. - Sri Lanka: supported design and planning for a nationwide property tax; two CD missions examined alternative property taxation options and aided strategic implementation planning; regulations enacted to facilitate information exchange between the land registry and the MoF to establish a digital register documenting sales prices and rental rates. - Vietnam: two CD missions assisted with analysis and introduction of the Inclusive Framework’s GloBE Minimum Tax (GMT) and analysis/reform of real property taxation; National Assembly passed framework legislation introducing an Income Inclusion Rule (IIR) and qualified domestic minimum top-up tax (QDMTT) in November 2023; further measures to supplement GMT in 2024; FY2025 support envisioned for GMT implementation. - FAD JSA Strengthening Public Financial Management in Selected Southeast Asian Countries (JPN139; May 1, 2023 to April 30, 2026) - Objective: develop institutional capacity to address debt buildup, fiscal risks (including contingent liabilities), and liquidity management; support macro-fiscal forecasting, budget planning/execution, cash and debt management, fiscal reporting, fiscal risk management. - FY2024 uptake: slow, with CD concentrated in Cambodia and Mongolia. - Cambodia: resident PFM advisor anchored three workstreams—development of medium-term budget framework (MTBF), strengthening program baseline expenditure estimation, developing strategic budgeting phase to set expenditure ceilings and forward estimates, strengthening policy-orientation of budget document; assistance to develop framework for spending reviews; enhancements to PIM processes. - Mongolia: supported MoF in establishing framework to identify, quantify, and mitigate fiscal risks from state-owned enterprises and public investments including PPPs. - Myanmar: CD activities suspended due to political situation. - Timor-Leste and Vietnam: multiple rounds of discussions with technical counterparts; engagement expected to intensify in FY2025. - Thirteenth IMF-Japan High-Level Tax Conference for Asian Countries in Tokyo (JPN137; May 1, 2023 to April 30, 2024) - Aim: help Asian countries enhance domestic resource mobilization and discuss emerging tax policy and revenue administration topics (global minimum tax on multinationals, taxation of high-income individuals, carbon pricing, governance and accountability for tax capacity, digitalization and AI). - Event held April 25-26, 2024; jointly with Japan’s MoF; supported by OAP. - Participation: about 45 high-level officials from Finance Ministries and Revenue Administrations from 21 Asian countries, plus ADB, OECD, and Japanese academics. - Notable contributions: Deputy Managing Director Okamura delivered opening remarks; Mr. Shuichi Hosoda, Deputy Vice Minister for International Tax Policy, Tax Bureau, MoF delivered welcome address; FAD-led presentations and peer-learning country presentations. - FAD JSA Public Financial Management Support for Sri Lanka (JPN140; May 1, 2023 to April 30, 2025) - Objective: strengthen PFM institutions by modernizing PFM legal framework, embedding medium-term fiscal planning, improving fiscal reporting quality and integrity. - FY2024 accomplishments: resident PFM Advisor in place since mid-October 2023; support to meet IMF EFF structural benchmarks including (i) submission to Parliament of a new PFM law (including revised fiscal rules framework), (ii) Cabinet approval of a fiscal strategy statement (FSS) with medium-term fiscal framework (MTFF), and (iii) Cabinet approval to reduce limit on government guarantees. - Achievements: new PFM law submitted to Parliament in May 2024; FSS containing MTFF developed and published in June 2023 with an updated version planned for June 2024; draft Public Debt Management Law (PDML) completed to establish a functionally independent debt management office within the MoF; guidelines for management of government guarantees and on-lending developed in collaboration with WB; remote review of draft PPP law to align with public finance legislation. - FY2025 orientation: support for implementation of finalized legislations. - FAD JSA Strengthening Government Capacity in Expenditure Policy Analysis (JPN138; May 1, 2023 to April 30, 2026) - Target: Vietnam, Kiribati, the Maldives, and Palau. - Objective: increase efficiency and effectiveness of spending programs to improve fiscal sustainability, adequacy, and efficiency through TA, training, desk reviews, and on-demand consultations. - Vietnam: focus on developing and transferring a microsimulation model for long-term pension modelling and other public spending analysis; model finalized and transferred; support on labor market and social policy objectives. - Palau: reviewed government compensation and employment composition; IMF developed methodology to identify occupations with net departures (teachers and health workers) and pay gap evidence; authorities formed Employment and Compensation Committee to develop medium-term strategy. - Maldives: advised on financial sustainability of public pension schemes and regulatory benchmarking; IMF staff available for follow-up. - Kiribati: developed methodology to quantify copra output subsidy fiscal cost and incidence, assess technical inefficiencies, describe allocative inefficiencies, and lay out reform options and implementation considerations. - Mongolia — Strengthening Bank of Mongolia Capacity in Macroprudential Analysis (JPN424; May 1, 2023 to April 30, 2026) - Objective: enhance BOM operational framework for macroprudential policy—develop policy analysis (systemic risk identification, ex-ante/ex-post evaluation), and improve calibration/use of macroprudential instruments. - RA started assignment December 2023; delivered recommendations grouped into (i) institutional framework, (ii) operational aspects, and (iii) macroprudential tools, including implementation timelines agreed with BOM staff and management. - Coordination: complemented CCAMTAC project on strengthening bank supervision; January 2024 short-term TA from CCAMTAC on risk-based supervision coordinated with macroprudential RA. - Strengthening Debt Management in Sri Lanka, Maldives, and Lao PDR — LTX Based in SARTTAC (JPN425; September 1, 2023 to August 31, 2025) - Objective: strengthen debt management capacity in MoFs of the three countries. - Sri Lanka focus: strengthen institutional and legal framework of Public Debt Management Office (PDMO); enhance PDMO functioning; support local government bond market development; staff training. - Lao PDR focus: formulate MTDS and Annual Borrowing Plan; support secondary legislation for Public Debt Management; promote debt transparency/reporting; strengthen guarantees and on-lending policies. - Maldives focus: sovereign debt sinking funds and contingent liabilities management; bond market development; training on instruments such as ESG, Green, and CAT bonds; mitigate sovereign-bank nexus debt vulnerability. - RA started assignment in SARTTAC in mid-March 2024; contributed to MCM review of draft public debt management Act in Sri Lanka; country-specific work programs under discussion, first held with Lao P.D.R. MoF mid-May 2024. - Supporting the Development of Macroeconomic Frameworks (JPN211; May 1, 2023 to April 30, 2026) - Target countries: Angola, Botswana, Comoros, Eritrea, Ethiopia, Kenya, Madagascar, Malawi, Mauritius, Mozambique, Rwanda, South Africa, South Sudan, Tanzania, Uganda, Zambia, and Zimbabwe (other Sub-Saharan African countries might be included after consultation). - Objective: improve macroeconomic analysis and forecasting capabilities of ministries, central banks, and macroeconomic agencies, with ICD-backstopped LTX based at AFRITAC East, Tanzania. - Implementation note: hiring process for the LTX delayed but recently completed; discussions underway with AFRITAC East and AFR on future work program. - The Japan-IMF Flagship Partnership on Online Learning (JPN210; May 1, 2023 to April 30, 2026) - Achievements since inception (2013): more than 100 new courses developed; over 200,000 active learners; approximately 60,000 government officials completed an online course. - FY2024 metrics: engaged over 29,000 active learners; government officials accounted for more than 9,000 of the total 16,000 course completions. - Curriculum expansion in FY2024: 16 new online courses, 12 in languages other than English (LoE), including courses/modules such as FSIx, PPIx, DMIRx, VITARA-PMG, VITARA-AUD, VITARA-ERM, MTDSx (Spanish), VITARA-ORG (Arabic), DDTx (Spanish and Portuguese), CPIx, EDSx, QNAx (in Spanish and French). - Additional reach: 120 course reruns; IMF Institute Learning Channel offers 318 microlearning videos with over 16,600 permanent subscribers (microlearning viewership and subscribers noted as accomplishments). ### Implementation notes, cross-cutting observations, and operational status - Several programs were marked as Approved but showed varied uptake and spending through FY24 (see program budget and expenses above). - Some programs remained Operationally Closed after completion (e.g., FAD_APD_2023_04 Thirteenth High-Level Tax Conference). - Recruitment and staffing affected implementation timelines for field-based LTX and resident advisors (e.g., ICD macro frameworks LTX and several RA assignments that started in late 2023 or early 2024). - Political constraints affected delivery in particular jurisdictions (e.g., Myanmar CD suspended due to political situation). - FY2025 orientation for multiple programs is toward implementation support following legislative or diagnostic milestones achieved in FY2024 (e.g., Sri Lanka PFM law and PDML implementation support; Cambodia RMS III implementation; GMT implementation support in Vietnam). *Japan-IMF Partnership on Capacity Development Annual Report — ANNEX I.* ### 1.25 million views. Additionally, 15 courses designed specifically for blended CD delivery, covering macroeconomic analy ### Japan‑IMF Partnership on Capacity Development — FY2024 Highlights (from JSA Annual Report 2024) ### Integration and effectiveness of online and blended capacity development (CD) - 1.25 million views for online material. - 15 courses designed specifically for blended CD delivery, covering macroeconomic analysis, statistics, and other areas, were offered in FY2024. - Program effectiveness metrics for government officials in FY2024: - Completion rates: 68 percent. - Learning gains: 19.75 percent. - End-of-course survey results: - 96 percent of respondents reported that their learning objectives were met. - 92 percent recognized the courses’ relevance to their jobs and career development. - Analysis/implication: - The integration of online learning into blended training and TA, alongside surveillance activities, amplifies the Fund’s CD impact by enhancing authorities’ preparedness for virtual and face-to-face missions. - High completion rates and learning gains indicate substantial absorption by participants and strong alignment with job-relevance objectives. ### Singapore Regional Training Institute (STI) — training delivery and outcomes - FY2024 delivery: - 35 courses at STI Singapore premises and seven training/peer-to-peer events with regional partners. - All but three courses delivered in-person; three courses delivered as blended. - Priority access given to participants from Bangladesh, Cambodia, Laos, Solomon Islands, and other Pacific Islands for select macro and nowcasting courses. - Training effectiveness metrics: - Average learning gains: 21 percentage points (met and exceeded the project objective of 15 percentage points). - Average composite satisfaction score: 4.7 on a scale of 1–5 (exceeded benchmark 4.4). - Notable activities: - High-Level peer-to-peer forum on Financial Sector Stability Implications of Interest Rates Hikes and Geopolitical Fragmentation, Siem Reap, September 2023. - Peer-to-peer forum on Nowcasting and Monetary Policy for Pacific Island Central Banks, Suva, April 2024. - Analysis/implication: - STI’s alignment of courses to CD priority areas (climate change, debt sustainability, nowcasting, AML/CFT, financial stability) strengthened the relevance and uptake of CD in surveillance and TA pipelines. ### Improving Data Dissemination for Globally Selected Countries — Phase II (JPN516; May 1, 2023 – June 30, 2025) - Objective: - Promote data transparency and accountability by facilitating public access to key macroeconomic and financial statistics, focusing on implementation of the e‑GDDS and SDDS (first two tiers). - Core activities: - Help countries publish data on a National Summary Data Page (NSDP). - Peer‑learning workshops to develop action plans for e‑GDDS/SDDS implementation. - Technical support to e‑GDDS countries to advance toward SDDS. - Collaboration with African Development Bank (AfDB) via joint missions and regional workshops. - Implementation context: - Many beneficiary countries are Fragile and Conflict‑Affected States (FCS); progress constrained by resource limits, weak interagency coordination, political instability, civil unrest, and low absorptive capacity. - Country progress examples in FY2024: - Comoros: NSDP prepared after 2020 start; technological pandemic constraints and elections slowed progress; further training planned before launch (timing under discussion). - Côte d’Ivoire: Authorities aim to advance to SDDS by end of calendar year 2025; IMF country team added a structural benchmark requiring timely dissemination of quarterly central government debt data in the current IMF program; STA providing technical training with AfDB. - Niger: An e‑GDDS mission in July 2023 prepared an NSDP launch which was jeopardized by the military coup on July 26; STA re‑engaged new officials who requested refresher technical training and decided to resume work to launch the NSDP. - Progress toward SDDS subscription: - Botswana: Gap assessment underway; STA TA to support government finance statistics and estimation of general government data (remaining impediment to SDDS). - Ghana: SDDS gap assessment prepared; gaps include compilation of the Reserves Template; STA TA to be provided. - Rwanda: Updated gap assessment discussed; authorities implementing recommendations. - Kosovo, Albania, Montenegro: Engagement intensified in lead up to an SDDS regional workshop (June 2024); staff prepared tailored SDDS training material. - Analysis/implication: - Targeted STA TA, peer learning, and donor collaboration are laying the foundation for e‑GDDS/SDDS progress despite FCS constraints; progress is incremental and contingent on political stability and interagency coordination. ### Digital money, CBDC, and fiscal operations programs (JSA Digital Money/CBDC and related JSA work) - JSA Digital Money/CBDC and Fiscal Policy, Operations, and Management (S_JPNDM; Feb 1, 2023 – Apr 30, 2026) - Objective: Build knowledge linking digital money, including CBDCs, with public finance operations and management; produce analytical outputs including a book “Reaping Benefits and Mitigating Risks of Digital Money in Fiscal Operations” and a cross‑country survey. - FY2024 progress: - Scope and outline of the book defined; chapter authors selected and drafting to occur in 2024 and early 2025. - Cross‑country survey initiated in first half of 2024. - Workshop and peer‑learning event planned in 2024 for APD countries. - Three analytical pieces initiated: taxing mobile money; CBDCs and social assistance effectiveness; information exchange models between Revenue Administrations and Treasuries. - JSA Central Bank Digital Currency (CBDC) CD Work (S_JPNDM; Nov 1, 2022 – Apr 30, 2027) - Objective: Strengthen central banks’ capacity in CBDC to avoid a digital divide; FY2024 timeline extended and coverage increased to AFR. - FY2024 bilateral engagements: Vietnam, Philippines, Pakistan (virtual, hybrid, in‑person) with MCM, LEG, ITD collaboration to strengthen CBDC expertise and assist Philippines in wholesale CBDC evaluation. - JSA CBDC Analytics and Development (S_JPNDM; Nov 1, 2022 – Apr 30, 2025) - Objective: Build analytical foundations and a CBDC Handbook to guide CBDC exploration and policy. - FY2024 outcomes: - First wave of Fintech Notes and CBDC virtual Handbook chapters: total downloads 17,600 and pageviews over 30,000. - Second wave topics prioritized for member needs: CBDC and cross‑border payments; CBDC implications for monetary operations; CBDC adoption and market positioning; CBDC data use and privacy; financial stability; operational and cyber resiliency. - Second wave aimed to be published before October 2024 and turned into virtual Handbook chapters after the 2024 Annual Meetings. - Analysis/implication: - Multiplatform analytic work (handbook chapters, Fintech Notes) combined with bilateral CD supports central banks and fiscal authorities to evaluate CBDC design, fiscal operational impacts, and policy tradeoffs. - Cross‑department collaboration (MCM, LEG, ITD, FAD) is central to addressing legal, technical, and macro‑financial dimensions. ### Macroeconomic forecasting, nowcasting, and debt dynamics capacity building (selected programs) - Developing Macroeconomic Forecasting and Nowcasting Techniques (JPN209; May 2, 2022 – Apr 29, 2026) - Objective: Build institutional capacity for nowcasting/near‑term forecasting and macroeconomic analysis in selected Pacific Island and African central banks and policy institutions. - FY2024 outcomes: - Central Bank of Solomon Islands: QPM development initiated; nowcasting and NTF tools advanced; Nowcasting Report template created to feed policy decisions. - Reserve Bank of Fiji: Nowcasting and NTF tools developed to support Macroeconomic Committee growth and inflation forecasts. - Regional Workshop on Monetary Policy and Nowcasting for Pacific Island Central Banks, Fiji, April 2024; peer exchange and training; subsequent country cooperation (e.g., Samoa supporting Timor‑Leste). - Tonga, Samoa, Democratic Republic of Congo: forecasting, nowcasting, QPM, and data management system developments with integration into policy processes. - Strengthening Fiscal and Debt Sustainability through Macroeconomic Frameworks and Debt Dynamic Analysis (JPN208; May 2, 2022 – Apr 29, 2026) - Objective: Develop capacity to project public debt and build macro projection tools. - FY2024 outcomes: - Guinea: Scoping and technical missions to enhance a homegrown macro framework. - Maldives: CAEM development; strengthened MMA–MOF collaboration for fiscal sector forecasting. - Mauritania: Scoping mission and hands‑on training to develop public debt projection tools using DDT. - Philippines, Sri Lanka, Tunisia: CAEM/CAEM‑based tool development and institutionalization with missions and training. - Analysis/implication: - Country‑customized tools (QPM, CAEM, DDT) and hands‑on training are enabling authorities to generate baseline and alternative scenarios, improve macro‑fiscal diagnostics, and institutionalize forecasting for policy use. ### Public financial management, fiscal sustainability, and infrastructure governance highlights - AFR Strengthening Fiscal Sustainability in Fragile States (J PN135; May 1, 2022 – Apr 30, 2025) - Objectives: Strengthen budget management, fiscal transparency/reporting, and sustainable fiscal institutions in FCS. - FY2024 outputs: 18 CD missions across eight countries; RAs present in six targeted countries; support provided on wage bill management, electronic funds transfer systems, TSA establishment, accrual accounting reforms, PIM and PIMA/C‑PIMA support, fiscal reporting and fiscal risk management training. - Infrastructure Governance Facility II (J PN136; May 1, 2022 – Apr 30, 2025) - FY2024: 7 PIMAs, 3 PIMA updates, and 13 C‑PIMAs delivered; C‑PIMA demand rose with countries seeking “green” public investment integration; development of a standard Digital PIM tool, completion of C‑PIMA handbook and a How‑to Note on PIM in low income countries (under internal review). - PIMA/C‑PIMA recommendations informed lending conditionalities and structural benchmarks in several countries (Benin, Cabo Verde, Mauritania, Rwanda, Senegal, Pakistan, Maldives). - Analysis/implication: - Targeted PFM and PIM CD in fragile contexts is yielding institutional reforms (TSA, accrual accounting, fiscal risk management) and aligning CD with lending conditionality to support implementation and sustainability of public investment and fiscal reforms. --- _Source: https://www.imf.org/-/media/files/capacity-developement/jsa-annual-reports/jsa2024.pdf_