2010年-IMF国际货币组织全球_Framework_Administered_Account_for_Selected_Fund_Activities_Liberia_Macro_4页_242kb

Liberia Macro-Fiscal Subaccount Summary

Core Content

The document outlines the proposal for establishing the Liberia Macro-Fiscal Subaccount (Subaccount) under the Framework Administered Account for Selected Fund Activities (SFA Instrument). This initiative is part of the International Monetary Fund (IMF)’s efforts to support public financial management (PFM) reforms and fiscal decentralization in Liberia through external financial resources.

Main Purpose

The primary objective of the Subaccount is to finance technical assistance activities aimed at helping Liberia:

• Develop a PFM framework aligned with international standards.
• Establish a sustainable fiscal decentralization framework.

These activities are intended to build the capacity of Liberia’s public institutions to manage financial resources more effectively.

Key Features of the Subaccount

The Subaccount is structured as a multi-donor account, meaning it will receive contributions from various donors. The following are the essential terms and conditions of the Subaccount:

1. Funding Sources

• The Subaccount will be funded by contributions from donors.
• It will also include earnings from the investment of these contributions, after deducting any investment-related costs.

2. Donor Consent

• Each donor must agree to the essential terms and conditions of the Subaccount before their funds can be accepted.
• This consent is formalized through a Letter of Understanding (LOU) between the donor and the IMF.

3. Resource Transfer

• Donors can transfer their resources into the Subaccount after signing the LOU.
• The Subaccount allows for the transfer of resources from bilateral subaccounts under the SFA Instrument into the Liberia Macro-Fiscal Subaccount.

4. Flexibility in Participation

• Donors may join the Subaccount at any time.
• A donor’s consent to the essential terms and conditions is considered ex ante concurrence, meaning they agree to any future additions to the Subaccount, provided those additions also comply with the same terms.

5. Withdrawal Mechanism

• A donor may withdraw from the Subaccount and receive a retransfer of their net contributions.
• This withdrawal does not lead to the termination of the Subaccount.

6. Reimbursement for Fund Expenses

• The Subaccount will reimburse the IMF for expenses related to its management, at a rate of 7% of the total expenses financed from the Subaccount.

Consistency with SFA Instrument

The essential terms and conditions of the Subaccount are consistent with the SFA Instrument, which governs the administration of external financial resources for selected Fund activities. The proposed activities align with the purposes of the IMF, focusing on enhancing fiscal and financial management capabilities in Liberia.

List of Existing Subaccounts

The document also includes a list of other Subaccounts established under the SFA Instrument, highlighting the global nature of these initiatives. These include:

• Central America, Panama, and the Dominican Republic Technical Assistance Center (CAPTAC-DR) Subaccount
• Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Subaccount
• East Africa Regional Technical Assistance Center (AFRITAC East) Subaccount
• West Africa Regional Technical Assistance Center (AFRITAC West) Subaccount
• Switzerland Subaccount for Selected Fund Activities
• Germany Subaccount for Selected Fund Activities
• European Investment Bank Subaccount for Selected Fund Activities
• Socialist People’s Libyan Arab Jamahiriya Subaccount for Selected Fund Activities
• European Commission Subaccount for Selected Fund Activities
• Kingdom of the Netherlands—Netherlands Subaccount for Selected Fund Activities
• Middle East Regional Technical Assistance Center (METAC) Subaccount
• Norway Subaccount for Selected Fund Activities
• United Kingdom Department for International Development Subaccount for Selected Fund Activities
• Japan Subaccount for Selected Fund Activities
• Subaccount for the Administration of Selected Smaller-Scale Capacity Building Activities
• United States Subaccount for Selected Fund Activities
• African Regional Technical Assistance Center (AFRITAC Central) Subaccount
• Kuwait Subaccount for Selected Fund Activities
• Belgium Subaccount for Selected Fund Activities
• IMF-Middle East Center for Economics and Finance Subaccount for Selected Fund Activities
• Tax Policy and Administration Topical Trust Fund Subaccount
• Managing Natural Resource Wealth Topical Trust Fund Subaccount
• Sweden Subaccount for Selected Fund Activities

Conclusion

The proposal for the Liberia Macro-Fiscal Subaccount is part of a broader effort by the IMF to support capacity-building initiatives in member countries. It is designed to be flexible, transparent, and aligned with international standards, ensuring that donor resources are used efficiently and effectively to improve public financial management and fiscal decentralization in Liberia.