Message from the Director February 2022

2021 has been another challenging year, but also one during which the JVI and its partners have managed to continue supporting capacity building in public sector economic institutions in the countries of Central, Eastern, and Southeastern Europe, the Caucasus, Central Asia, Iran, and Turkey. As the JVI turns 30 in 2022, we will continue to help strengthen economic institutions in the region, as we have done in the past three decades. 

We are particularly grateful to the JVI’s Primary Members—the Austrian Federal Ministry of Finance (BMF), the Austrian National Bank (OeNB), and the International Monetary Fund (IMF)—for their unwavering support to the JVI, particularly during the Covid-19 pandemic. Our Contributing Members—the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Organisation for Economic Cooperation and Development (OECD), the World Bank, and the World Trade Organization (WTO)—as well as the European Commission have also provided critical support to the JVI over many years. In addition, JVI has benefited from its increasing cooperation with many other partners, such as the Deutsche Bundesbank, Banque de France, Bank of England, Bank of Russia, European Central Bank, US Federal Reserve, National Bank of Poland, International Labor Organization, and others. 

Looking back at 2021. Almost all JVI partners have been able to adapt their courses for virtual delivery. As a result of this remarkable collective effort, 94 percent of the planned courses were delivered, all virtually. Course participants have expressed strong satisfaction with continued access to high-quality training, while flagging challenges related to virtual delivery and wishing for a return to classroom delivery. The JVI has remained nimble and responded to emerging needs. Several new courses were delivered for the first time in 2021, covering topics like climate change economics, green finance, policy support to the private sector, and diversity and inclusion. Well-attended webinars have been delivered at the pace of 2-3 a month; they have allowed to complement the curriculum and to reach out to new audiences.  

What to expect for 2022. Uncertainty is still high as to when it is possible and safe to resume classroom training in Vienna. The resumption of classroom delivery will depend on the evolution of the pandemic and will likely be progressive. But make no mistake: we are working hard to be ready to welcome you at the JVI as soon as possible!  

As in previous years, the JVI is offering in 2022 a wide variety of hands-on, policy-oriented training courses, workshops, and webinars covering general macroeconomic issues; monetary, fiscal, financial, and structural policies; and various other specialized topics. These offerings reflect the vast scope and depth of expertise contributed by JVI’s partners. Our curriculum also reflects emerging needs arising from the Covid-19 crisis, as well as other pertinent policy topics.

The IMF will continue to provide the bulk of our courses, both timeless classics like Financial Programming and Policies and Macroeconomic Diagnostics and new courses on hot topics like Central Bank Digital Currencies.

The Austrian authorities will again deliver a substantial number of courses in 2022, dealing with a range of issues such as challenges of European Union integration, green finance, taxation, sound fiscal institutions, public governance, and structural reforms, and FDI policies. A common feature of most of these courses is that they rely extensively on Austria’s or other EU countries’ experience with reforms. 

Our Contributing Members and the European Commission will offer courses or contribute to joint courses in their areas of expertise. 

We are offering in 2022 an enhanced version of the JVI’s flagship course, Applied Economic Policy, which will combine virtual, online, and classroom delivery. This course, delivered with several JVI partners, provides promising young public officials with an overview of key economic issues. Structural Reforms will also rely on input from many of our Contributing Members and stakeholders. As in the past, we will continue to join forces with partner central banks and other institutions.

Classroom training in Vienna will remain the core of the JVI’s activities once the situation normalizes, with virtual and online courses increasingly integrated into it. Successful completion of online courses (see and the IMF’s Smart Catalog) already increases a participant’s selection chances for classroom courses in Vienna. Webinars will provide quick updates on emerging topics. We are also planning a couple of high-level events, in virtual or hybrid format, to celebrate our 30th anniversary. The JVI faculty of economists will continue to contribute to several regional and in-country capacity development programs led by the IMF or in collaboration with JVI partners.  

We hope to see you soon, either virtually or even better in Vienna!

Hervé  Joly
Director, Joint Vienna Institute
February 2022


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