 |
About PFTAC
The Pacific Financial Technical Assistance Centre (PFTAC) was established in 1993 to promote macro-financial stability in the Pacific Island countries (PICs) through a focused program of technical assistance and training. PFTAC was the first of the International Monetary Fund (IMF) regional technical assistance centers, representing a collaborative venture between the IMF, the member countries, and bilateral donor partners. The goal of PFTAC is to strengthen the institutional capacity of Pacific countries to design and implement sound macroeconomic and financial policies. Macroeconomic and financial stability, in turn, are essential underpinnings for sustainable economic growth and the achievement of Sustainable Development Goals.
PFTAC assistance is provided to sixteen PICs. These comprise 13 members of the IMF, including Federated States of Micronesia (FSM), Fiji, Kiribati, Nauru, Palau, Papua New Guinea (PNG), Republic of the Marshall Islands (RMI), Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu and Vanuatu, plus the Cook Islands, Niue and Tokelau.
PFTAC’s operations are funded through contributions from its development partners, 16 member countries, and the IMF. During the current Phase VI funding cycle, which runs from May 2023 to April 2028 (FY2024–FY2028), PFTAC’s key development partners are Australia, the Asian Development Bank, the European Union, Japan, New Zealand, the Republic of Korea, the United Kingdom, and the United States.
In addition, Fiji, contributes through the provision of free office space, member countries also contribute through in-kind and financial support for training activities in the region. The IMF contribution finances the center coordinator and the running costs of the office, including local support employees.
Link to the PDF
2nd Option
