Belgium and IMF sign a Framework Arrangement to strengthen Partnership on Capacity Development

Stocks and Financial Services Press Releases Tuesday March 15, 2016 09:08
IMF--15 Mar--International Monetary Fund

The Government of Belgium and the International Monetary Fund (IMF) today signed a Framework Arrangement on capacity development. This agreement will lay the basis for an enhanced partnership aimed at strengthening economic institutions and improving economic outcomes of developing countries, in line with achieving sustainable economic growth and poverty reduction objectives.

IMF Deputy Managing Director Carla Grasso made the following statement: "We thank Belgium for its strong support to the IMF's capacity development work. Our joint efforts have already produced important results in Belgium's partner countries in Africa and elsewhere. We also appreciate Belgium's role as a lead partner in the IMF's online learning initiative, which has now benefited more than ten thousand people across the globe. With this framework arrangement, we look forward to further strengthening our partnership with Belgium on capacity development. In this context, we welcome Belgium's participation in the Revenue Mobilization Trust Fund (RMTF), which further deepens its long-standing commitment to supporting better tax policy and administration."

"The Government of Belgium is a proud partner of the IMF and looks forward to continuing our cooperation on capacity development, focusing on sustainable, inclusive economic growth and the rights-based approach to development. In line with the Addis Ababa Action Agenda that provides the financing framework for implementing the Agenda 2030 on Sustainable Development, Belgium believes that an equitable and efficient mobilization of domestic revenue is key and essential for especially the least developed countries and countries in fragile situations, since this reduces their aid dependency and helps financing their recovery and human development. Hence our participation in the RMTF," Honorable Alexander De Croo, Deputy Prime Minister and Minister for Development Cooperation, Digital Agenda, Telecommunication and Post, said.

Background Information

Since 2007, Belgium has supported Fund capacity development initiatives on a broad range of topics, including face-to-face and online training, as well as many projects aimed at economic institution building in its partner countries. Belgium was also one of the early contributors to the Tax Policy and Administration trust fund that supports resource mobilization in low-income countries, which will start a new five-year phase of operations in 2017 under the new RMTF label.

The IMF provides capacity development assistance to its member countries through technical assistance and training, in addition to conducting economic and financial surveillance and lending operations. The IMF's technical assistance helps member countries develop more effective economic institutions, legal frameworks and policies to promote economic stability and growth; while training strengthens the capacity of member countries' officials to analyze economic developments and formulate and implement effective policies.


Latest Press Release

SET welcomes SPRIME REIT on Jan 23

The Stock Exchange of Thailand (SET) will list S Prime Growth Leasehold Real Estate Investment Trust worth THB 5.72 billion (approx. USD 173.26 million) on January 23, 2019, under the ticker symbol "SPRIME ". SET Senior Executive Vice President Manpong...

Empowering ASEAN 4.0 the ways forward to pursue and become ready for the transformation to the digital era

The ASEAN Business Advisory Council (ASEAN BAC) was inaugurated in April 2003 at the ASEAN Secretariat in Jakarta, Indonesia. Its establishment was mandated by the ASEAN Leaders at their 7th ASEAN Summit, November 2001 in Bandar Seri Begawan, Brunei...

Fitch Rates KTB Securities# THB Subordinated Debentures #BB-(tha)#

Fitch Ratings (Thailand) has today assigned a National Long-Term Rating of 'BB-(tha)' to KTB Securities (Thailand) Public Company Limited's (KTBST; BB(tha)/Stable) upcoming issue of up to THB400 million in subordinated debentures. The debentures will...

TMB reported 2018 net profit of THB11,601 mn, 34% increase from last year. Coverage ratio was raised to 152% in preparation for IFRS 9 implementation, reflecting the Banks prudent management.

TMB reported 2018 net profit of THB11,601 mn, 34% increase from last year. Coverage ratio was raised to 152% in preparation for IFRS 9 implementation, reflecting the Bank's prudent management. Moving toward 2019, the Bank will continue to further acquire...

TBank#s New CEO committed to challenging 2019 targets against backdrop of average annual profit growth of 10% over past 4 years

Praphan Anupongongarch, formerly chief of auto hire-purchase business, now takes the helm of Thanachart Bank as new CEO. Having introduced his strong management team and adopted both Customer-Centric and Fast & Focused Policies, he aims at...

Related Topics