United States Department of the Treasury, through its Office of Technical Assistance (OTA), provides comprehensive financial advice around the world. The mission of the U.S. Department of the Treasury’s assistance program, managed by the Office of Technical Assistance (OTA), is to support the development of strong financial sectors and sound public financial management in countries where assistance is needed and there is a strong commitment to reform.
Since its creation in 1990, OTA has helped many countries develop and implement market-based financial policies and management practices that support growing economies and stable democracies. Though OTA focuses on the public sector, the benefits of improved public financial management serve the wider community to include: citizens, private enterprise, and other interests in the economy at large. A government that manages the public purse with integrity and ffectiveness not only delivers essential services better, it also builds credibility with its citizens and throughout the world.
OTA expert advisors work directly with their counterparts in finance ministries, central banks, tax departments and other public sector financial institutions. Assistance may be provided on a sustained basis by resident advisors or by intermittent advisors who travel overseas for short-term assignments.
OTA’s mode of operation is to provide technical assistance bilaterally by sending advisors to work directly with counterpart agencies such as ministries of finance, central banks, financial intelligence units, and tax administrations. OTA’s work is categorized as Official Development Assistance (ODA). OTA has ongoing projects around the globe.
Services
The U.S. Department of the Treasury provides financial sector assistance in five core areas:
Revenue Administration and Policy
Creates more effective tax administrations that simplify procedures to encourage voluntary compliance on the part of taxpayers, effectively uncover tax evasion, and maintain high standards of fairness and transparency.
Budget and Financial Accountability
Strengthens the effectiveness of ministries of finance, the readability and transparency of budget documents, and the management and expenditure of government resources.
Government Debt Issuance and Management
Provides strategic and technical assistance to develop market-based means of public finance through the issuance of domestic government securities; increases the efficiency of government debt management; and implements comprehensive debt strategies that diversify sources of finance, reduce liability risk and lower debt service burdens.
Banking and Financial Services
Supports the development of strong financial sectors in which institutions are well-regulated, stable and accessible, serve as efficient intermediaries between savers and investors, and are resistant to criminal activity.
Economic Crimes
Assists the development and implementation of anti-money laundering and counter terrorist financing regimes that are compliant with international standards.
Treasury also has the ability to assist in related areas, such as auditing, accounting, IT system development, and macroeconomic and monetary policy management.
