High-Level Summary Technical Assistance Reports

The High-Level Summary Technical Assistance Report series provides high-level summaries of the assistance provided to IMF capacity development recipients, describing the high-level objectives, findings, and recommendations.


May 26, 2023

Mongolia; Central Bank Communications: Central Bank Communications

Description: At the request of the Bank of Mongolia (BOM), a mission team from the IMF’s Monetary and Capital Markets Department (MCM) provided technical assistance (TA) to BOM on central bank communications. The mission—which took place in August 2022—reviewed the existing communication framework of BOM and identified several areas where BOM could enhance the effectiveness of its communications.

May 12, 2023

Philippines: Developing a Regulatory and Supervisory Framework for Operational Resilience

Description: Responding to a request from the Bangko Sentral ng Pilipinas (BSP) for developing a regulatory and supervisory framework for operational resilience, a Technical Assistance mission aided the authorities in identifying regulatory gaps, provided guidance in enhancing the regulatory framework and delivered a training program focusing on regulatory aspects pertaining to operational resilience. The recommendations focused on articulating the case for policy initiative, developing a regulation in consultation with the industry, considering potential severe but plausible scenarios.

April 17, 2023

Trinidad and Tobago: Strengthening Cybersecurity in Financial Institutions

Description: Central Bank of Trinidad and Tobago requested for technical assistance to: (i) strengthen the cybersecurity posture of the Central Bank, and (ii) strengthen the cybersecurity of the financial institutions. The mission provided support in a project aimed at enhancing its cybersecurity posture focusing on governance and Identity and Access Management (IAM), provided guidance in drafting a guideline applicable to financial institutions and conducted a seminar on regulations. The recommendations focused on strengthening governance aspects, defining the IAM project and drafting a regulation for the financial institutions.

March 17, 2023

BOTSWANA: Domestic Bond Market Development

Description: At the request of the authorities, an IMF team undertook a technical assistance mission to Botswana, from August 17–26, 2022, to support efforts to develop the local currency government bond market. The mission assessed the current stage of the sovereign debt market and formulated policy recommendations for each of the six building blocks included in the Guidance Note for Developing Local Currency Bond Markets.

February 23, 2023

Jordan: Retail Central Bank Digital Currency Exploration

Description: The International Monetary Fund (IMF) analyzed the retail payments markets of Jordan to identify pain points that retail Central Bank Digital Currency (rCBDC) could address. Retail payment systems in Jordan are highly integrated, enabling customers to make interoperable transactions between banks and non-bank Payment Service Providers (PSPs).1 The country’s cross-border remittance market is competitive, but may benefit from the reduced transactions cost associated with rCBDC. Despite generally accessible and appropriate product offerings and an enabling environment, various barriers prevent customers from extensively using digital means of payment. rCBDC might create an opportunity to overcome these barriers, thus making a cross-border rCBDC worth consideration. However, the Central Bank of Jordan (CBJ) should rigorously evaluate benefits against risks and costs before forging ahead. Meanwhile, the CBJ should develop capacity to address technology, cybersecurity, financial integrity, and legal issues.