Technical Assistance in Financial Programming, Phase III
The aim of the Financial Programming intervention is for beneficiaries to develop their own financial programming models and systems, to take command of the technical analysis, to negotiate with the IMF in more pro-active terms, and to establish a foundation for deeper commitment to prudent macroeconomic policy management. With a modular approach, the project aims to complement IMF training in several SECO priority countries.
The project builds on experiences gained over the past years in assisting Paraguay, Nicaragua, Azerbaijan, Kirgyzstan and Vietnam in macroeconomic forecasting. Those countries had asked SECO for technical assistance to improve their macroeconomic planning capacities. While the International Monetary Fund (IMF) is the key provider in this area, donors such as SECO can complement the IMF work by delivering focused and tailor-made assistance to beneficiary countries.
The IMF institute provides centralized courses of Financial Programming in several regional training facilities. Emerging market authorities have sent large numbers of officials to IMF training facilities. Main goal of the IMF training is educational. The courses are kept fairly generic and do not aim at specific national needs. SECO assistance, by contrast, has been very focused, hands-on and country-specific. It involves workshops to build (from scratch) individual country forecasting economic models based on Financial Programming with ministry and central bank officials. Demand for such models is large, but resource constraints and the specificity of the chosen assistance reduce the geographic coverage of the project (at most six countries can benefit from this assistance in any given year).
Macroeconomic stability as a result of a well formulated, coordinated and coherent macroeconomic policy.
Based on the use of Financial Programming models, governments are able to independently formulate sound macroeconomic policy.
Improvement of data availability and consistency through increased data exchange between governmental agencies.
Improvement of inter-ministerial cooperation with regard to macroeconomic forecasting activities.
Creation of operational country-specific Financial Programming models (incl. a corresponding database, updated on a continuous basis).
Improvement of skills of staff.
Improvement of data quality.
Technical assistance provided through consultants in hands-on training sessions.
Technical assistance provided through workshop missions.
Policy dialogue facilitated by the SECO Cooperation Offices, awareness raising activities among high-level authorities.
Publication of a generic and country-specific Financial Programming manuals.
|Directorate/federal office responsible
|Current phase Swiss budget CHF 3’213’000 Swiss disbursement to date CHF 0 Budget inclusive project partner CHF 3’213’000
Phase 3 01.01.2013 - 30.06.2022 (Active)