Goals & Objectives
The resources of CARTAC are available to:
- Undertake diagnostic work to identify and design measures needed to strengthen specific aspects of economic and financial governance;
- Prepare detailed plans, and assist in the implementation of those plans;
- Review proposals or assessments by governments or other donors for consistency with internationally agreed standards;
- Provide hands-on technical advice and training either by the centre's own advisers or by specially contracted CARTAC consultants;
- Organize training courses, seminars, workshops and the dissemination of best practices;
- Arrange professional attachments for skills enhancement and development.
CARTAC provides technical assistance in five core areas:
- Public Finance Management: enhance budget execution, expenditure control, and revenue collection monitoring; reform treasury systems and upgrade cash and debt management procedures; modernization of financial accounts and reporting; implementation of GFS financial statistics classification; formulation of modern financial management legislation; overall strengthening of human and institutional capacity within Ministries of Finance and revenue collecting organizations.
- Tax/customs policy and administration: undertake assessment of tax systems and assist with the design and implementation of tax reforms; suggest simplification of tax operations; assist with the preparation of the legislative framework for tax and customs administration; assist with the implementation of more effective compliance control tools for tax and customs legislation; propose adaptation of customs operations to meet international agreements.
- Financial Sector Regulation and Supervision & Capital Markets: Strengthening laws and regulations governing financial institutions and capital markets using harmonized approaches where possible; Enhancing domestic and off-shore bank supervisory procedures in accordance with international best practices; Stengthening the regulation & supervision of non-bank financial institutions, including insurance companies, credit unions and capital markets intermediaries; Implementing international accounting standards for financial institutions and reporting issues; Enhancing corporate governance standards and transparency regimes for the benefit of investors; Assisting with the introduction of depositor protection mechanisms; Assisting with the preparation and implementation of an anti-money laundering/terrorism laws and procedures
- Economic and financial statistics: assist with the improvement of the quality of macroeconomic statistics, including: national accounts and price indices, balance of payments, external debt, and monetary and financial statistics; establish and maintain underlying basic data collection; guide in the use of concepts and internationally accepted methodologies; develop compilation procedures, including data preparation, verification and computerization; assist in the dissemination of data.
- Financial programming: provide hands-on training in the preparation of macroeconomic projections and analysis of policy options.