IMF Course on Exchange Rate Policy

July 23, 2018

We asked Ms. Artina Bedjeti, participant in the IMF Course on Exchange Rate Policy (ERP) at the JVI in July 2018 about her experience with the course; this is what she shared with us:

Ms. Artina Bedjeti, National Bank of the Republic of Macedonia


- What did you find particularly useful in the course? What do you expect to get from the course for your work and professional development?

The Exchange Rate Policy (ERP) course, delivered by the IMF, was very useful and the topics and issues covered during the lectures were further elaborated in IMF Working Papers and parts of Article IV Consultations and Staff Reports, which helped me to better understand the country case studies. The definitions and concepts used in exchange rate analysis, methodologies to estimate the equilibrium real exchange rate, and the IMF external balance assessment approach are among skills and knowledge that I acquired in the course that will have an impact on my work and professional development.   

- Do you think your performance might change after taking this course?

The ERP course has broadened my knowledge and deepened my understanding of several aspects of foreign exchange (FX) interventions, among them ways to assess the adequacy of FX reserves and their management, varieties of hybrid regimes, transitioning from a fixed to a floating exchange rate regime, what happens in currency crises, and the reasons for “fear-of-floating.” This course helped me to better understand the choice of exchange rate regime, how country-specific features could influence the choice and operate to prevent currency crises, and the “impossible trinity” is—all of which I hope will have a positive effect on my daily work.

- Have you already taken any other courses at the JVI or IMF?

I’ve taken four IMF online courses: Macroeconometric Forecasting; Financial Programming and Policies – Part I, and then Part II; and before attending the ERP I completed the fourth online course. Macroeconomic Diagnostics. Every single course has added value to my career as an economist and future researcher. Some of the knowledge I gained through the online courses was applied immediately to my everyday duties, and some helped me to better understand the IMF course on Exchange Rate Policy at JVI.
Last but not least, the online learning methodology has broadened my horizons on special macroeconomic issues, which I might have not been fully knowledgeable about before.  


Prepared by Luka Zupančič
Receptionist/Program Officer, JVI

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