2009年-IMF国际货币组织全球_Establishment_of_a_New_Framework_Administered_Account_for_Selected_Fund_Activities_10页_344kb

Summary of the Instrument for a Framework Administered Account for Selected Fund Activities

I. Introduction

This document proposes the establishment of a New Framework Administered Account (SFA Instrument) to manage external financial resources for selected Fund activities. The SFA Instrument aims to provide a more flexible and effective platform for attracting donor resources, particularly for the Fund's Technical Assistance (TA) programs and other activities. It will operate in parallel with the existing FAA Instrument during a transitional period, with the goal of eventually phasing out the FAA.

II. Need for a New Instrument

• External financing has become increasingly important in supporting the Fund's TA program, especially as internal funding has declined over the past decade.
• The Fund's TA activities are expected to grow due to:
  • Increased demand for TA from low- and lower middle-income countries.
  • Expansion of Regional Technical Assistance Centers (RTACs).
  • Emerging markets and developing countries seeking to improve financial systems.
• The new strategy emphasizes:
  • A forward-looking TA agenda aligned with member countries' priorities.
  • Deeper partnerships with public and private sector donors.
  • Strengthening country ownership through a new charging policy.
  • Ensuring external financing supports all TA-related activities, including research, conferences, and staff exchanges.
  • Using a more transparent and comprehensive TA costing model.

III. Features of the New SFA Framework Account

The SFA Instrument enhances the existing FAA structure in several ways:

1. Broader Range of Activities

• Supports not only TA and training but also:
  • Participation in international standard-setting activities.
  • Non-TA related research conferences.
  • Staff capacity-building and exchanges with other organizations.

2. Expanded Donor Pool

• Allows contributions from both public and private sector donors, including foundations active in low-income countries.
• Previously, the FAA only permitted contributions from governments, official agencies, and international organizations.

3. Flexible Subaccount Creation

• Subaccounts can be established before donor commitments are secured.
• This facilitates the creation of multi-donor programs and topic-specific trust funds.
• The Managing Director can specify the essential terms and conditions for subaccounts.

4. Transferability of Resources

• The Fund is authorized to transfer resources between subaccounts upon donor request.
• This simplifies budgetary processes and aligns donor priorities with the Fund's TA goals.

5. Transparent TA Costing

• Replaces the FAA's standard cost presumption with actual costs.
• Reduces the administrative fee (from 13% to a lower trust fund management fee) in line with international best practices.
• Ensures comprehensive and transparent accounting for TA activities.

6. Enhanced Reporting and Accountability

• The Fund will directly report on donor-financed TA to non-donor third-parties upon request.
• Annual reports on subaccount expenditures and activities will be provided to Contributors.
• External audits will be conducted on the SFA Framework Account.

7. Financial and Administrative Procedures

• All transactions are denominated in U.S. dollars.
• Resources in subaccounts can be invested by the Managing Director, with earnings available for the subaccount.
• The SFA Framework Account is accounted for separately from other Fund accounts.
• The Fund may transfer resources between subaccounts under specified conditions.

IV. Governance and Termination

• The SFA Framework Account is governed by this Instrument and administered in accordance with its provisions.
• The Fund may terminate the SFA Framework Account at any time upon the Managing Director's request.
• Subaccounts may also be terminated either by the Fund or by a Contributor, with the concurrence of all involved parties.
• Upon termination, remaining balances will be distributed according to the terms specified in the subaccount's essential conditions.

V. Conclusion

The SFA Instrument is designed to enhance the Fund's ability to attract and manage external financing, aligning with its evolving TA strategy and the increasing importance of donor support. It introduces greater flexibility, transparency, and accountability while maintaining the Fund's control over its operations and ensuring the effective use of external resources.