METAC’s resources are available for diagnostic work to identify and design measures needed to strengthen specific aspects of economic and financial governance; preparing detailed implementation plans based on the diagnostic work conducted by TA departments at IMF Headquarters; reviewing proposals or assessments by governments and other donors for consistency with internationally agreed standards, and coordinating activities with other TA providers; providing policy and technical advice either by the Center’s own advisers or by consultants hired by METAC; and organizing training courses, seminars, workshops and dissemination of best practices.

Banking Supervision

METAC participates in the joint Fund/US Federal Reserve banking supervision training program. It also provides logistical support to seminars held in the region. METAC has also provided technical assistance in strengthening the examination process through the development of new financial statements and call reports as well as the issuance of new prudential regulations in line with Basel Committee on Banking Supervision recommendations.

Public Financial Management

METAC intends to work with the Iraqi authorities to complete the development of a new budget classification based on the GFSM 2001. This project builds on work that was carried out with the authorities in early 2005. In addition, IMF headquarters is providing support with advice on fiscal federalism issues. USAID and DFID are other donors actively involved in Iraq on public financial management issues.

Multisector Statistics

METAC provides support on an ad-hoc basis in the area of balance of payments statistics and prices, and also provides logistical support and technical advice if needed to IMF headquarters technical assistance missions.

Central Bank Accounting (Ceased in October 2009)

METAC worked closely with senior CBI internal audit officials to evaluate the existing Internal Audit function of the Central Bank of Iraq and develop the organization and management structure of the Internal Audit Department as well as the functions and responsibilities of the Internal Audit in accordance with the Institute of Internal Auditors (IIA) professional standards.