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Macroeconomic Management and Financial Sector Issues (MMF)
By Invitation
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Course No.:
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IP 13.01
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Location:
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Pune, India (ITP)
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Date:
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January 28 – February 8, 2013 (2 Weeks)
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Language:
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English
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Target Audience:
Mid- to senior-level officials in central banks, ministries of finance, and regulatory
agencies involved in the formulation and implementation of macroeconomic and financial
policies.
Qualifications:
Participants should have an advanced degree in economics or equivalent experience.
Course Description:
This two-week course, presented by the IMF’s Institute for Capacity Development,
examines the policy dilemmas confronting authorities in developing and emerging
market economies, and the options available to policymakers, with special attention
to how financial sector issues interact with macroeconomic management. The course
covers a number of key macroeconomic topics, such as stabilization and growth, fiscal
and external debt sustainability, frameworks for monetary policy, choice of the
exchange rate regime, and international capital flows. It also addresses financial
sector topics, such as the role of financial sector in the economy, the relationship
between financial fragility and macroeconomic stability, financial sector policies,
and policies to address financial crisis. The course content is differentiated to
better address issues relevant to different regions.
Participants are expected to engage in discussions throughout the course and are
divided into small groups, under the direction of counselors, to conduct workshop
exercises aimed at solidifying their understanding of the lecture materials. Participants
may also be asked to make presentations on key policy issues of interest in their
countries.
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Financial Stability, Systemic Risk, and Macro-Prudential Policy (FSMP)
By Invitation
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Course No.:
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IP 13.02
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Location:
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Pune, India (ITP)
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Date:
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February 11 – 15, 2013 (1 Week)
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Language:
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English
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Target Audience:
Officials involved in financial regulation or financial stability analysis from
central banks or ministries of finance. Qualifications: Participants are expected
to have an advanced degree in economics finance or equivalent experience.
Course Description:
The one-week course, presented by the IMF’s Monetary and Capital Markets Department,
is designed for central bankers and financial regulators to provide up-to-date information
on the identification of risks that can threaten the stability of the financial
system, and approached to mitigating these risks. The course draws on the lessons,
and the international policy and regulatory responses to the recent financial crisis.
The topics covered include:
- role, objectives and lessons for the design of financial stability analysis and
macro-prudential policy in light of the recent financial crisis;
- quantitative techniques for the identification and assessment of macro-financial
and systemic risks: modeling systemic default and liquidity risk, contingent claims
analysis (CCA) and systemic CCA with applications, comparison of systemic risk modeling
and how the models are related to each other, and interaction of financial sector
and sovereign risk;
- design financial stability reports and communication strategies;
- approaches to mitigating systemic risks, including international regulatory initiatives
on systemic risk charges, extending the perimeter of regulation, and the design
of crisis management arrangements; and
- Institutional arrangements, including the role of systemic risk regulators, and
cross-border and international collaboration.
In addition to a series of lectures, participants of the course will be invited
to share relevant national experiences in addressing the above topics.
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Introductory course on Monetary and Financial Statistics (MFS-1)
By Invitation
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Course No.:
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IP 13.03
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Location:
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Pune, India (ITP)
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Date:
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March 4 – 15, 2013 (2 Weeks)
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Language:
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English
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Target Audience:
Central Bank officials responsible for the compilation of monetary and financial
statistics.
Qualifications:
Participants should have a degree in economics, statistics or equivalent experience.
Course Description:
This two-week course, presented by the IMF’s Statistics Department, is designed
to assist officials in the compilation of monetary and financial statistics in accordance
with international best practices. The course materials are based on the Monetary
and Financial Statistics Manual and the Monetary and Financial Statistics:
Compilation Guide.
The course discusses the principles of economic sectorization, the characteristics
and classification of financial instruments, and valuation and other accounting
issues that are relevant to the compilation of analytical accounts for the entire
financial sector, comprising the central bank, other depository corporations, and
other financial corporations. The course consists of lectures, workshops, and case
studies that familiarize the participants with practical aspects of monetary statistics
compilation, in particular with respect to the standardized report forms (SRFs)
for central bank and other depository corporations. Participants are expected to
make a short presentation on monetary statistics compilation issues for a depository
corporation in their countries.
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Budgetary Forecasting under Severe Data Constraints and Macroeconomic Volatility
By Invitation
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Course No.:
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IP 13.04
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Location:
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Pune, India (ITP)
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Date:
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April 15 - 19, 2013 (1 Week)
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Language:
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English
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Target Audience:
Officials from central banks, ministries of finance, and regulatory agencies Qualifications:
Participants should have a degree in economics, statistics or equivalent experience.
Course Description:
Budgetary forecasting under strict data constraints: this module would discuss the
practical issues involved with forecasting under limited availability and quality
of data. It would then discuss how to produce the best possible forecasts under
such constraints. Practical questions to answer would be: to what extent can we
rely on econometric methods? How to assess the quality of a forecasting tool? When
and how can we use judgment? How do we check and ensure consistency across different
sets of forecasts (macro, financial, fiscal)? Ultimately, participants should be
able to produce forecasts they feel comfortable with from a technical point of view.
Intra-year monitoring and reporting: This module would introduce tools for the higher-frequency
(monthly, quarterly) monitoring of revenue collection and budget execution, again
bearing in mind data and capacity constraints. The early detection of incipient
deviations potentially requiring policy corrections would be a paramount objective
of the module. We would conclude on ways how to structure monthly/quarterly notes
on budget performance.
Institutional prerequisites of an effective and efficient macro-fiscal unit: This
module would present and discuss best practice in institutionalizing a macro-fiscal
unit providing ‘the biggest bang for the buck’. This would include a
discussion of the remit of the macro-fiscal unit and the procedures required to
ensure adequate data and information sharing among different departments and ministries.
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