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 has provided technical assistance to the Lebanese authorities on the development of an early warning system based on prudential banking data. METAC strengthened the capacity of Banking Control Commission examiners through training courses on Corporate Governance and Assessment of Credit Risk portfolio and loans impairments in line with the International Accounting Standard (IAS) and Basel Committee on Banking Supervision recommendations.

Public Financial Management

METAC focused its technical assistance in the area of budget reform and cash management and TSA following up on the overall assessment of the PFM system made by IMF Headquarters in late 2005 (in which METAC participated). METAC will continue to coordinate its activity with the other TA providers, in particular the World Bank and the EC which are launching new TA programs in the PFM area. METAC will continue to focus on treasury issues (Cash and debt management, TSA) and budget execution.

Revenue Administration

METAC has followed-up on tax administration reforms previously recommended by IMF headquarters, including the restructuring of the revenue departments, establishment of the Large Taxpayer Office (LTO) and design of its operations. Assistance was provided on the establishment of the LTO (which was inaugurated in May 2005) and the review of its initial operations. METAC also helped to review the plans for restructuring the regional offices and for establishing a Medium Taxpayer Office (MTO), and in preparations for the introduction of a general income tax. The IMF will continue to provide strategic advice and support to key elements of the tax administration reforms.

Multisector Statistics

METAC provided TA in national accounts and price statistics over the past few years. METAC is currently working with the Banque du Liban (BDL) in the area of balance of payments statistics. More specifically, METAC is assisting BDL with the implementation of a survey of foreign direct investment for banks, improvement of balance of payments estimates, and the compilation of international investment position statistics.

Central Bank Accounting (Ceased in October 2009)

A comprehensive review of the Accounting and Internal Audit functions was undertaken. In addition, METAC also provided a short-term consultant who developed a concept paper which outlined and proposed an International Bank Account Number (IBAN) Format for Lebanon which meets country’s current and future needs. The proposals were accepted and METAC consultant is assisting with the implementation of IBAN.