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A technical assistance (TA) mission on external sector statistics (ESS) visited Guinea-Bissau during February 3 to 7, 2020. The mission was conducted in Bissau at the request of the National Directorate for Guinea-Bissau of the Central Bank of West African States (BCEAO-DNGB). The mission assisted in improving the quality of ESS. This was the fourth and final mission under the JSA-AFR project for improving ESS in 17 francophone countries of Central and West Africa, financed by the government of Japan and administered by the IMF.

Technical assistance.

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This review of Phase I of the technical assistance (TA) General Data Dissemination System (GDDS) project (2001-2006) for 15 Anglophone African countries1-funded by the U.K. Department for International Development (DFID) and executed jointly by the Fund and the World Bank-(henceforth, referred to as the Anglophone African (AAf) project) focuses mostly on the components that were implemented by the Fund's Statistics Department (STA). The review draws on various internal and periodic evaluations of project execution and reports by technical assistance providers. The GDDS-part of the Fund's Data Standards Initiative-defined the framework for the AAf project. The main goal of the project was initially limited to assisting countries to become participants in the GDDS via preparatory workshops and development of metadata and plans for improvement. The goal was subsequently expanded to providing TA and promoting greater awareness and regional cooperation.

Technical assistance.

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Executive Directors welcomed the report of the Independent Evaluation Office (IEO)on IMF Advice on Capital Flows. Directors appreciated the high quality of the report, and itsthematic and background country studies. Directors welcomed the finding that the adoptionof the Institutional View (IV), along with the development of other frameworks andadditional tools, had represented a major advance in the Fund's policy framework to providesystematic advice to member countries on the management of capital flows and capitalaccount liberalization. Directors also noted the conclusion that, in its application, the Fundhad generally followed the IV and other policy frameworks to ensure that the advice wasconsistent, tailored to country circumstances, and evenhanded across countries. Directorswelcomed that capital flow management measures (CFMs) have generally not been used tosubstitute for warranted policy adjustments. Directors also welcomed the finding that mostauthorities broadly support the IV's sequenced framework to capital account liberalizationand appreciated the Fund's specific advice in many cases, especially in the context oftechnical assistance. More recently, faced with the abrupt capital flow reversals during theCOVID-19 crisis, Directors noted that emerging markets and developing economiesgenerally followed a multi-pronged approach broadly consistent with the IV framework andmade relatively little use of CFMs.

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Over the period 2001-2004, Sierra Leone was a major recipient of MFD Technical Assistance, generally among the 10 countries in the world receiving the most assistance. This involvement represented a substantial contribution by the IMF towards the reconstruction of the country after the devastating civil war that ended in 2000.

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A technical assistance (TA) mission led by Mr. Fahd Ndiaye, Resident Adviser in Real Sector Statistics for AFRITAC West, visited Lomé from January 27 to 31, 2020, to assess the national accounts for the new base year 2016 with the National Institute of Statistics and Economic and Demographic Studies. (INSEED). These accounts were prepared in accordance with the System of National Accounts 2008 (2008 SNA). The proceedings took the form of a workshop with representatives of the World Bank, the United Nations Economic Commission for Africa (ECA), the African Development Bank (AfDB),the Statistical and Economic Observatory of Sub-Saharan Africa (AFRISTAT), the Commission of the West African Economic and Monetary Union (WAEMU) and the Central Bank of West African States (BCEAO). This report is largely based on the aide-memoire signed with the country and partners.

Technical assistance.