Enhancing Public Financial Management in the Caribbean / Renforcer la gestion des finances publiques dans les Caraïbes

The Enhancing Public Financial Management in the Caribbean initiative promotes improvements in public financial management capacity of target countries during a period of rising financial vulnerabilities and crisis. The initiative provides support to Caribbean countries that are facing crises and are prepared to deal with long-standing weaknesses in their fiscal and economic management through a fiscal reform program supported by the International Monetary Fund (IMF). The IMF will work with governments, providing short, medium and long-term advice and training designed to respond by country to the precarious financial situation or the conditionalities of IMF extended fund facility arrangements. The fund supports two packages of technical assistance. The first, valued at $5 Million to respond to Jamaica s extended fund facility arrangement with the IMF, that is to help support its four-year macroeconomic adjustment program to undertake necessary fiscal and economic reforms that will form the basis for sustainable public financial management needed as a preconditions for investment and growth. The second valued at $10 million is to respond largely to tourism-dependent Eastern Caribbean countries undergoing deepening financial vulnerabilities and potentially subject to extended fund facility arrangements with the IMF in view of their debt burdens. Caribbean Community countries negotiating or entering into an IMF extended fund facility arrangement calling for action to improve their fiscal situation and address conditionalities can access IMF advice, training and coaching to design and implement programs in public financial management, revenue administration, expenditure policy, tax policy and non-bank financial institutions supervision. / a venir