Title:
Caribbean Regional Technical Assistance Center (CARTAC) - phase VI
Agreement Number:
7459144 P013370001
Agreement Value:
$15,000,000.00
Agreement Date:
May 24, 2024 - Mar 31, 2025
Description:
CARTAC works to build the capacity of governments across 23 Caribbean countries and territories to strengthen their institutional and human capacity to design and implement sound macroeconomic policies to promote growth and reduce poverty. The project aims to achieve these objectives through delivery mechanisms such as providing capacity development and training by long-term experts based in the region and short-term advisory assignments, in-country workshops, and regional training seminars. There are 12 technical specialists primarily based in Barbados at the headquarters of the Caribbean Regional Technical Assistance Center (CARTAC). They engage in supporting a wide range of economic areas such as financial stability, tax administration, customs, financial sector supervision, macroeconomic programming, real sector statistics, external sector statistics, and public financial management (PFM). Established in November 2001, CARTAC is one of 10 International Monetary Fund (IMF) Regional Technical Assistance Center. CARTAC is in its sixth phase of operations and is a pooled funding mechanism of donor and Caribbean country resources that supports 23 countries and territories across the Caribbean. Phase VI will particularly focus on integrating gender and climate resilience across all work streams.
Organization:
Global Affairs Canada
Expected Results:
The expected outcomes of this project include: (1) improved management of public finances in CARTAC member countries through increased effectiveness of domestic revenue systems, more effective and transparent budget preparation and execution, and enhanced macro-fiscal policy formulation; (2) increased resolution and minimization of risk factors identified in the financial systems; (3) increased regulation and supervision of capital markets, banking, and non-bank financial institutions; (4) increased use of macroeconomic statistics programming analysis in key public institutions; and (5) increased mainstreaming of gender and climate resilience throughout all capacity development streams. This includes financial stability, tax administration, customs, financial sector supervision, macroeconomic programming, real sector statistics, external sector statistics, and public financial management (PFM).
Reference Number:
064-2024-2025-Q2-00323
Report Type:
Grants and Contributions
Recipient Type:
Not-for-profit organization or charity
Additional Information:
Belated reporting that should have been included in the 2024-2025 1st Quarter report.
Recipient's Operating Name:
IMF – International Monetary Fund
Recipient's Legal Name:
IMF – International Monetary Fund
Federal Riding Number:
NA
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.