Grants and Contributions:
Title:
Enhancing Public Financial Management in the Caribbean
Agreement Number:
5007060349 D000365001 P000609001
Agreement Value:
$26,000,000.00
Agreement Date:
Mar 25, 2014 - Dec 31, 2021
Description:
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. 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 works 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 which is to help support its four-year macroeconomic adjustment program to undertake necessary fiscal and economic reforms. 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.
Organization:
Global Affairs Canada
Expected Results:
The expected outcomes for this project include: (1) improved macroeconomic and public financial management in the context of rising financial vulnerabilities; and (2) increased regional cooperation/integration to foster economic growth in the Caribbean region.
Location:
Washington, US
Reference Number:
GC-2014-Q4-0097
Agreement Type:
Grant
Report Type:
Grants and Contributions
Recipient Type:
Not-for-profit organization or charity
Additional Information:
Belated reporting that should have been included in the 2018-2019 4th Quarter report: The end date is postponed to December 31, 2021 and the value is increased by $6,000,000 CAD.
Amendment Date
Feb 13, 2019
Recipient's Legal Name:
IMF – International Monetary Fund
Program:
International Development Assistance Program
Program Purpose:
The main purpose on the International Development Assistance Program is to reduce poverty for those living in countries where Global Affairs Canada engages in international development.
Amendments: