Swiss IMF Technical Assistance Subaccount, LoU South

Project completed

Under the Letter of Understanding (LoU) South, the State Secretariat for Economic Affairs (SECO) is financing through a dedicated Trust Fund ('the Subaccount') Technical Assistance (TA) implemented by the International Monetary Fund (IMF) in Africa, East Asia, and Latin America.

Country/region Topic Period Budget
South Africa
Economic and financial policy
17.10.2010 - 31.12.2015
CHF 12'900'000
Background It is widely recognized that sound Public Financial Management (PFM) and a strong and stable financial sector are essential conditions for socio-economic development and poverty reduction. Hence, demand for technical assistance in these areas is increasing. With its proven expertise in management of public finances and in strengthening the financial sector, the International Monetary Fund (IMF) is ideally placed to meet this demand. Though its oversight function, the IMF has a deep insight into the economic and financial situation of its member countries, allowing it to customize technical assistance to the needs of recipient countries.
Objectives The main objective of the technical assistance provided is to promote economic stability and sustainable growth, thereby contributing to poverty reduction in the recipient countries. The resources of the subaccount will be used to finance projects that seek to enhance the capacity of recipients to formulate and implement policies in the macroeconomic, fiscal, monetary, financial and related statistical fields, including training programs and projects that strengthen the legal and administrative framework in these core areas. The activities benefit following countries: Colombia, Egypt, Ghana, Indonesia, Peru, South Africa, Vietnam, and Tunisia.
Medium-term outcomes Improved capacities for macroeconomic analysis, policy formulation and forecasting-Improved capacities for revenue and budget management-Improved systems and procedures for budgeting, treasury operations, expenditure planning and control with appropriate safeguards in terms of oversight and auditing-Improved legal and institutional framework for financial sector supervision and regulation-Improved monetary operations, debt management and payment systems-Strengthened institutional and procedural public infrastructure for Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT)-Development of national laws and constitutional amendments for pension systems.
Directorate/federal office responsible SECO
Credit area Development cooperation
Project partners Contract partner
  • International Monetary Fund

Budget Current phase Swiss budget CHF   12'900'000 Swiss disbursement to date CHF   0 Budget inclusive project partner CHF   180'000'000
Project phases

Phase 1 17.10.2010 - 31.12.2015   (Completed)