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| October 2024 | Dear Colleague,
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â IMF Publications
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 | Resilience in the Face of Change
The recently published 2024 IMF Annual Report highlights the IMFâs work on global challenges, including supply-chain disruptions, an energy and food crisis triggered by Russiaâs war on Ukraine, and a considerable surge in inflation, followed by a globally synchronized tightening of monetary policy. During FY24, the IMF lent $70 billion to 30 countries, including about $15 billion to 20 low-income countries, for a total of $357 billion to 97 countries since the start of the pandemic. The IMF also undertook 128 country health checks and allocated $382 million for hands-on technical advice, policy-oriented training, and peer learning. The report is also available in Arabic, Chinese, French, German, Japanese, Portuguese, Russian, and Spanish.
View here: |
 | Upgrading Fiscal Frameworks in Asia-Pacific
This paper looks at the reform of fiscal frameworks in Asia-Pacific and calls for a more active fiscal policy in a shock-prone world. It highlights the cost of fiscal support and shows that fiscal frameworks are being put to the test given the sharp increase in debt, high interest rates, and weaker growth prospects. It also shows that despite the increased adoption of medium-term fiscal frameworks in Asia-Pacific forward guidance has been hampered by the lack of binding targets and ex-post analysis. Proposed reforms focus on strengthening the medium-term orientation of fiscal policy through credible fiscal plans, fiscal rules linked to the strategy and the annual budget, and a stronger reliance on fiscal councils. READ MORE |
 | Central Bank Digital Currency Data Use and Privacy Protection
This note offers a framework and tools to help countries navigate the trade-offs between data use tied to CBDCs and privacy protection. It addresses data issues related to retail CBDCs and emphasizes the role of institutional arrangements, data collection, access and storage policies, design choices, and technological solutions. At a given level of preference for privacy, central banks can facilitate better use of CBDC data through robust transparency and accountability arrangements, sound policies, and judicious adoption of privacy-by-design approaches including the use of privacy-enhancing technologies. READ MORE |
 | Virtual Training to Advance Revenue Administration (VITARA) Reference Guide: Human Resource Management
This reference guide deals with Human Resource Management (HRM) issues, HRM strategy, and, more generally, human capital in tax administration. It introduces modern HRM practices for senior leaders, including how HRM should be organized within a tax administration, the design of a career path, and adequate remuneration structure for tax administration officials. The guide covers hot topics such as workforce analysis, culture, values, ethics, HR analytics, training, and knowledge management. READ MORE
This guide is part of the series Virtual Training to Advance Revenue Administration (VITARA) reference guides. |
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