The last Council of Ministers held on Friday March 18, approved a series of English contributions to international financial institutions and was approved approved the third disbursement of the contribution of Spain to the Regional Technical Assistance Center in Central International Monetary Fund (IMF), amounting to one million dollars. In addition also approved the English contribution to the Initiative Multilateral Debt Relief in the African Development Fund for the period 2001-2013, amounting to 522,125.18 euros.
REGIONAL SUPPORT CENTER IN CENTRAL AMERICA (CAPTAC)
The IMF established in 2009 a Regional Technical Assistance Center in Central America (CAPTAC) that concentrates all technical assistance activities in the region so far already carried out through various projects (courses and workshops in areas fiscal, financial and monetary and macroeconomic and financial statistics).
The Center's areas of activity are the technical assistance in tax matters, financial and monetary sector and macroeconomic and financial statistics, with the beneficiary countries El Salvador, Honduras, Nicaragua, Costa Rica, Dominican Republic, Guatemala and Panama .
The provision of technical assistance through regional centers is considered more efficient in cases such as Central America, the similarities between countries and regional integration. This allows for economies of scale in the provision of technical assistance, save costs and promote identification of the beneficiary countries
specific projects because of its proximity and ease of setting priorities of common interest. External grant financing coincides with the priorities of the IMF budget restructuring.
Spain pledged in 2008 to provide a total of $ 7 million to the project. Thus, our country is the lead donor in a group of countries and institutions, which include Mexico, Canada, Germany, the European Commission and the IMF.
AFRICAN DEVELOPMENT FUND
Spain joined in 2005 to a new initiative Multilateral Debt Relief to Low-income countries covering the period 2006-2054. In the case of the African Development Fund, the Board of Governors approved the 2006 resolution authorizing the cancellation of the debt with some of its beneficiary countries by the amounts contributed by donor countries for this purpose. As this initiative is extended to a long period of time, it provides a mechanism to conduct periodic adjustments in contributions from donors. This adjustment takes place in conjunction with the replenishment negotiations funds in the African Development Fund. As part of the negotiation of the twelfth replenishment of the African Development Fund has taken place for review of the costs for this replenishment period (2011-2013).
The African Development Fund was established in 1973 within the Group of African Development Bank to reduce poverty in regional member countries. To this end, provides loans on concessional terms (including grants) to 40 low-income African countries that lack access to market financing conditions.
For more information:
Ministry of Economy and Finance
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