Joint Vienna Institute

Austria’s Finance Minister, Dr. Magnus Brunner, visited the JVI on September 28, 2022.

Joint Vienna Institute

The JVI is a regional training center founded in 1992 by Austria, the International Monetary Fund, and several other international organizations.

Joint Vienna Institute

IMF Managing Director, Kristalina Georgieva visited the JVI on May 13, 2022.

Joint Vienna Institute

Our courses are geared to officials from Central, Eastern, and Southeastern Europe, the Caucasus, and Central Asia.

Joint Vienna Institute

About 80 courses per year are taught by the Austrian authorities, IMF, EBRD, EIB, OECD, World Bank, WTO, EC, JVI, and selected central banks.

Joint Vienna Institute

Since its establishment over 49,000 course participants have been trained at the JVI.

Joint Vienna Institute

Annual  lectures by current ministers, governors and top public officials are a particular highlight (Hans Joerg Schelling, Austrian Finance Minister, June 2016).

Joint Vienna Institute

And Governor Robert Holzmann. Thanks to Austria and the IMF’s committed support, the JVI has been able to build capacity and foster effective cooperation across the region.

Alumni Interviews

Veronica Chicu

The monetary policy course, presented virtually due to the Covid-19 pandemic, was delivered at the same quality as the pre-pandemic period courses. We have actively participated in lectures and workshops throughout the course. The course has helped me to improve my understanding of monetary policy frameworks and transfer mechanisms under various monetary regimes, and the role of monetary policy in providing macroeconomic stability.

Mr. Mehmet Ali KOSE, Ministry of Treasury and Finance of Turkey
Virtual Course on Monetary Policy, June 22 – July 03, 2020  

Veronica Chicu

“Experience sharing and learning from other countries’ examples is very important and helpful in improving the quality of our statistics. With face-to-face learning, the JVI becomes not only an intermediary in this exchange of experience between peers, but at the same time brings with the IMF presenters to this hands-on experience also a strong theoretical and methodological component.”

Ms. Veronica Chicu, National Bank of Moldova
IMF/STA course on Compilation of Balance of Payments Statistics. January 28 – February 8, 2019

I would like to express my gratitude to everyone who was involved in preparation and execution of the Virtual Course on “Public Governance and Structural Reforms” for high-quality organization and selection of very interesting and relevant topics. We were pleased with professionals who not only made presentations, but also interacted with participants via discussions, polls, and provided a lot of information on international ratings and indices, which is my direct specialty. I can definitely recommend this course to policy makers and look forward to future JVI courses given the opportunity.

Sevara Atabaeva, Ministry of Finance, Uzbekistan, Virtual Course on Public Governance and Structural Reforms, May 3-14, 2021

Veronica Chicu

The Virtual Course on Monetary policy gave me a unique opportunity to expand my knowledge of monetary policy and its role in macroeconomic stabilization, better understanding how the economy responds to shocks and policy decisions under different monetary policy regimes. The knowledge and practical experience gained during this course will be useful at my work. I appreciate very much the support of our great lecturers  - Mr.Tibor Hlédik and Mr. Alexei Miksjuk, as this was the first virtual course that I attended.  

Ms. Viktoriia Plachynda, National Bank of Ukraine,
Virtual Course on Monetary Policy, June 22 – July 03, 2020 

I attended the virtual course on Financial Education (FE) in February, 2021. During this tough times of COVID-19, when face-to-face meetings are limited, online training organized by JVI with the help of The Oesterreichische Nationalbank (OeNB), was an excellent opportunity for me to get theoretical and practical knowledge on Financial education and Financial literacy (FL). Professionals from different universities and practitioners from The World Bank and other organizations shared their knowledge and experience about key stakeholders’ engagement in promoting FE and FL, targeting groups and products, designing programs and channels, and how FE and FL activities can be best coordinated across institutions and countries to ensure sustainability. The course presented examples of different FE tools and gave the opportunity for the participants to introduce best practices in their countries and to effectively discuss and exchange their experience on these topics. I would highly recommend this online training to everyone who is interesting in this field.

Alexander Memov, Bulgarian National Bank, Virtual course on Financial Education, February 22-26, 2021

Daniel Valcu

“Participating in this course made me realize how important it is to look more closely at the interaction between monetary and fiscal policy.” Mr. Daniel Valcu, Ministry of Public Finance, Romania, IMF Course on Monetary Policy. January-February 2018

Ms. Egzona Hani

“The JVI courses have broadened and deepened my knowledge about specific economic topics. During the course, I got to know the specifics, the definitions, the logic behind the measurements, the calculations, the risks.”

Ms. Egzona Hani, National Bank of Republic of Macedonia
IMF Course on Financial Sector Surveillance

Iryna Lafiuk

“The course created a special platform where experts from different agencies, who are involved in designing a macroeconomic reform program, met and had an opportunity to improve their skills.”

Ms. Iryna Lafiuk, Ministry of Economy, Belarus
IMF course on Managing Capital Flows: Macroeconomic Analysis and Policies (MCF). November 6-17, 2017

The course on FDI Policies covered a positively immeasurable amount of things from basics to advanced analysis. It was my great pleasure to be part of this course, which enhanced my knowledge of diverse aspects of FDI. There was a lot to learn both from the proficient lectures and the experiences of peer participants. Currently, when the consequences of Covid19 remain actual, the course provides evidence-based perspectives on how FDI policies/attraction should be further dealt with.  I believe it will enable me to act more efficiently as an employee of Armenia's national IPA.

Edik Harutyunyan, "Investment Support Center" Foundation, Armenia, Virtual Course on Foreign Direct Investment Policies (August 30-September 10, 2021)

The virtual course on Social Insurance Taxation and Employment proved very helpful in strengthening my understanding of the functioning of labor markets in the context of the different organizational frameworks of social insurance and taxation regimes. The well-structured presentations and vivid discussions accompanying them, allowed for in-depth analysis of the challenges faced by the labor markets not only in the aftermath of the shock caused by the COVID-19 pandemic but also due to long-term demographic changes. The participants were effectively encouraged to express their opinions on the matters discussed, while the case study, administered towards the end of the course, allowed to synthesize the technical knowledge, presented throughout the entire week, in the framework of the policy debate.

Jacek Białek, Ministry of Finance, Funds and Regional Policy of Poland, virtual course on Social Insurance, Taxation and Employment (April 26-30, 2021)

Veronica Chicu

I am very glad that I had the opportunity to take part at the virtual course on Monetary Policy, as it was very interesting, informative and well organized. I believe that it was very useful for my current and future professional ambitions. Although it was organized in a virtual way, the course was exciting to follow and it had the right balance between the theoretical and practical parts. In addition, the lecturers were great, put a lot of effort to help us expand our knowledge, and triggered some very nice discussions and active participation by the participants, which is very important in order to understand the course material.

Mr. Marko Josimovski, National Bank of North Macedonia
Virtual Course on Monetary Policy, June 22 – July 03, 2020

Jacek Bialek

“JVI offers great networking opportunities; after 15 years I am still in touch with some friends from the 2002 AEP course.”

Mr. Jacek Bialek, Ministry of Economic Development, Poland
IMF course on Managing Capital Flows: Macroeconomic Analysis and Policies (MCF). November 6-17, 2017

"I attended the virtual training called Banking Supervision within the Basel Framework in January 2021.

The course was designed to include all the key aspects of the Basel Framework.

It was very useful to explain the Basel Framework in a way that reflects on-site supervisors' perspectives.

The course content was also supported with case studies and real life examples. Although the online course had its drawbacks, it was very efficient and well organized.

I highly recommend this course to all on-site supervisors."

Mr. Fatih Kılıç

Banking Regulation and Supervision Agency of Turkey

Virtual course on Banking Supervision within the Basel Framework, 

January 18-22, 2021

The virtual course on Fiscal Sustainability enhanced my understanding of fiscal developments and different channels that could impact countries long term debt stability. 

The course introduced participants with a practical analysis tool that can be used for evaluating debt sustainability and different debt development scenarios. In a group work we had a chance to practice this analysis for the country of one of our group members. I still have some homework to do - to apply this tool for my own country. I am eager to do so to have a stronger base for debt sustainability discussions as this is a hot topic in fiscal analysis. 

I was impressed how efficient a virtual course can be, and in case on site courses are not available I sincerely recommend applying to virtual ones. I missed visiting Vienna, but it was great to get new knowledge and expertise from the place I am at, and even there were no face-to-face meetings, enough time was planned for group work, discussions, and interaction with counselors. 

Ieva Opmane, Bank of Latvia, Virtual course on Fiscal Sustainability, July 19-30, 2021

The FPP virtual course, with its well-designed structure, presented the theory of macroeconomics in a simple way, while providing the opportunity to put theory into practice. Throughout the course, key 

economic policies were discussed along with case studies, and the lecturers patiently listened to and addressed comments by participants. As participants continuously shared their own country experiences, lecturers were continuously bringing theoretical and practical background on when, where, how and why were various tools and policies used. I sincerely recommend everyone interested in macroeconomics and policy-making to enroll in this course to apply theory into practice and to gain different perspectives on economic policymaking. 

İbrahim Özbek, Central Bank of the Republic of Turkey 

Virtual Course on Financial Programming and Policies (October 18-29, 2021)

“The FPP course, presented virtually, has helped me to improve my understanding of how to diagnose macroeconomic imbalances and correct them through a coordinated set of adjustment policies. It was a hands-on and team approach and we have considered on a specific example of the country case and special scenarios (Covid-19 pandemic), with the help of well-trained և knowledgeable lecturers. I recommend this course to all my colleagues.”

Ms. Gayane Barikyan, Central Bank of Armenia, virtual Financial Programming and Policies Course, February 08-19, 2021

Mariam Khariashvili

“The course has helped me to gain a deeper understanding of the four main macroeconomic sectors and how they are interlinked.”

Mariam Khariashvili, National Bank of Georgia
IMF Course on Financial Programming and Policies

Krunoslav Šimatović

“I liked meeting international peers at the EBRD training and being able to share ideas and practical experience with them. Well-structured content and experienced lecturers helped participants to interact and take away a good experience, especially noting the awareness of the evolving role of a chief financial officer as well as the leadership impact within an organization.”

Mr. Krunoslav Šimatović, Croatia
EBRD Management Training for Chief Financial Officers

The course was designed to include all the key aspects of the fiscal policy methodologies and tools. The theoretical concepts were nicely linked with the real examples and data to support it. Participants’ engagement in training sessions and group work was particularly useful. I highly recommend this course.

Lazar Radivojevic, National Bank Serbia, Virtual course Fiscal Frameworks, March 29-April 09, 2021

Veronica Chicu

The Virtual Course on Inclusive Growth is a very comprehensive and useful training that provides its participants with both theoretical and practical knowledge on fairly distributed economic growth. It covers a wide array of topics from different kinds of measurement of poverty and inequality to various macroeconomic policies that can affect growth. I highly appreciated a great ambiance during the whole course that encouraged an active participation, and the extensive knowledge and hands-on experience of lecturers. 

Ms. Iwona Janczyk

Narodowy Bank Polski/National Bank of Poland

Virtual Course on Inclusive Growth, August 31- September , 2020. 

The Local Currency Bond Market virtual course was very good but also very intensive course. The lectures delivered the best possible mixture between best practice and theory, with a lot of examples. I can recommend this course to all my colleges from emerging and frontier markets.

Dragan Jovic, Central Bank of Bosnia and Herzegovina 

Virtual Course on Local Currency Bond Market Development (June 21-25, 2021)

Veronica Chicu

Online training was innovative and flexible format of engaging in active discussions and exchange of country-specific experiences with lecturers and participants. I benefited greatly from the Public Governance and Structural Reforms course because I gained practical guidance on macroeconomic and social policies, which not only shaped my analytical and leadership skills, but will also help me in my professional engagement in policy coordination. Gresa Baftiu, Senior Officer for Policy Coordination, Ministry of European Integration, Kosovo.

Marcel Olari

“The course provides the real measures of improving the quality of fiscal management and improves my understanding of the main issues related to sound fiscal policies.”

Mr. Marcel Olari, Ministry of Finance, Moldova

The Course of the Austrian Federal Ministry of Finance, JVI, IMF and Oesterreichische Nationalbank on Sound Fiscal Institutions: The Basis for Stability, Growth and Prosperity. February, 2018 

Anxhela Bushati

“Thanks to the Vulnerability Diagnostics course I have built up my skills and ability to assess fiscal, financial, and external vulnerabilities.”

Ms. Anxhela Bushati Ministry of Economic, Development of Albania
IMF Course on Vulnerability Diagnostics (VDC). December 4-15, 2017

From September 12, 2022 through September 16, 2022, I had the pleasure of attending the “Future of Taxation” course at the Joint Vienna Institute. The course was incredibly well-designed balancing lectures, country presentations and the multiple discussions to give the participants a comprehensive and practical understanding of the topics. Topics covered such as the Structure of Taxes in Emerging Market Economies enhanced my understanding of the fundamentals of tax systems across developing economies and challenges they face. In addition, through topics on Tax avoidance, Tax evasion, and Illicit financial flows I grasped the importance of having well-established tax laws and enforcement capacities, whereas the Panel Discussion on the impact of Digitalization on Taxation provided me with novel insights on the benefits and challenges pertaining tax systems and policies arising from digitalization. Overall, the course was very informative, practical, and encompassing and would highly recommend it. Lastly, I would like to express my gratitude to the Joint Vienna Institute for the opportunity to attend policy-oriented trainings. Through these effectively designed and tailored courses, I can professionally grow and develop, as the new knowledge and skills I acquire I directly apply at my workplace. Festa Kusari, Senior Fiscal Policy Analyst, Ministry of Finance, Labor, and Transfers, Government of Kosovo, Future of Taxation course, September 12-16, 2022.

Veronica Chicu

Edlira Drishti

This online seminar gave a “roadmap” to identify resolution options for NPLs. I learned a lot about debt resolution systems and their implementation which will help me a lot during bank examinations. Another interesting topic was how to design effective Asset Management Companies. The seminar also gave me a great opportunity to exchange and share experiences with other colleagues on how to manage and mitigate the economic effects of COVID -19. 

Ms. Edlira Drishti – Bank of Albania, 

Course on Non-performing Loans (Management and Resolution)

Online course 13-17 July 2020

Veronica Chicu

I was very glad to participate in the virtual course on “NPL Management and Resolution” at the JVI. It was very useful for my current work and future career. I learned about many different NPL resolution approaches and different country experiences. The lecturers were very knowledgeable and the course material very helpful. I recommend this course to all my colleagues. 

Mr. Emrah ÖZDOĞAN 

Bank Auditor at Banking Regulation and Supervision Agency, Istanbul-TURKEY

The course has allowed me to look at the currently pressing crisis phenomena from fiscal as well as monetary policy perspectives. The course has also offered deeper dive-ins into the economic crises of the past, not forgetting to outline key trends that will shape the future. 

Mr. Vytenis ČIPINYS, Bank of Lithuania

Austrian Authorities Virtual Crisis Course: Past and Current Crises and Future Challenges

November 9-20, 2020

“My first impression is that this course not only covers almost every fundamental thing for a beginner but that even an experienced user could find many useful tips.”

Ms. Iuliia Shapova, The Institute for Economics and Forecasting of the National Academy of Sciences of Ukraine
IMF course on Managing Capital Flows: Macroeconomic Analysis and Policies (MCF).  November 6-17, 2017

The course is a good starting point for deepening your understanding on the causes and policy responses of the recent crises. The lectures cover a multitude of important topics, ranging from monetary to fiscal policies. Also, the reading list is a collection of curated and high-quality papers to guide you forward in your study.

Dan-Grigore Ivan, National Bank of Romania

Virtual Crisis Course: Past and Current Crises and Future Challenges (November 22-December 3, 2021)

Adrian Music

“It was a great experience and again it proved what a tremendous effort JVI invests in educating public officials and strengthening the capacity of institutions throughout the JVI target region.”

Mr. Adrian Music, Central Bank of Bosnia and Herzegovin
IMF Course on Vulnerability Diagnostics (VDC). December 4-15, 2017

The training ensured better insight into how to describe a country’s fiscal framework as the set of institutions to enhance fiscal policy effectiveness by being able to assess the quality of available data and country-specific characteristics. It contributed to formulating practical guidance on designing fiscal rules for specific national problems, applying macrofiscal tools to monitor fiscal performance, and building a medium-term budget framework The JVI offers opportunity to exchange experiences among countries that would eventually lead to valuable implementation of them. 

Sara Guliyeva, Ministry of Finance, Azerbaijan, Virtual Course on Fiscal Frameworks, March 29-April 9, 2021

Through a nice balance of lectures and training sessions, the course covered very complex issues and allowed me to deepen my understanding of competitiveness. The theoretical concepts were nicely linked with the data to support it. Participants’ engagement in training sessions and group work was particularly useful. The top-quality lecturers enriched my knowledge related to competiveness, growth and crisis. 

Vladimir Simic - University of Split, Croatia

Austrian Authorities Virtual Course on Competitiveness, Growth and Crisis, March 01-12, 2021

Veronica Chicu

Attending the virtual course on Selected Issues in Financial Sector Surveillance was a great opportunity to improve my knowledge regarding the assessment of the main risks that the financial institutions face, including the macrofinancial linkages. I highly recommend the course, as it optimally combines both practical and theoretical aspects, while the lecturers ask stimulating questions and encourage an active participation. Looking forward to attend new courses organized by the JVI. 

  

Anaida Iosif, National Bank of Romania

Financial Sector Surveillance – Virtual Training, October 26-30, 2020

There is no doubt, that climate change is one of the most important issues of our time, which slowly, but steadily is negatively affecting nearly every aspect of our lives. In this JVI’s course we had unique opportunity to reveal very complex causal links of our social, economic and political structures that are crossing our planetary boundaries and leads us to uncertain physical and transitional risks. Luckily, there is still time to act and together with experienced JVI’s lecturers from Austrian institutions, European Commission, Academia and Business representatives we thoroughly searched for the solutions with a special focus on a monetary policy. It is still unclear how all climate change processes will turn out, but during this course we have received the most up-to-date information and best practices to turn our country's financial and economic direction on a greening path. Julius Gratulevičius, Senior Specialist, Investments Department, Ministry of Finance of Lithuania: Climate Change and Green Finance course, June 20-24, 2022

Fatih Akcelik

“I will use what I learned from the real-life case studies in building models and communicating their results in my daily work.”

Mr. Fatih Akcelik, Central Bank of the Republic of Turkey
IMF Course on Monetary Policy. January-February 2018 

Martin Pintaric

“The course on Monetary Policy gave me a greater understanding of the complex linkages between monetary policy, exchange rate regimes, and other macroeconomic factors.” Mr. Martin Pintaric, National Bank of Croatia, IMF Course on Monetary Policy. January-February 2018

I want to express my deep gratitude to the whole your team for giving me chance to participate in this very interesting and useful training. The course was extremely beneficial for me as it gave me opportunity to gain in-depth knowledge which was based on theoretical and practical examples. I want to underline professional standard of the lecturers, which were extremely helpful and polite, trying their best to share valuable knowledge and were focused on every single question asked by participants. 

With great pleasure and honor I will recommend my friends and colleagues in Georgia to draw attention to JVI activities and announced courses, as it was really result oriented.

Once again than you for your engagement and giving me unforgettable experience!

Mariana Gamjashvili, Georgian National Communications Commission

Course on Public-Private Partnerships (October 4-15, 2021)

I found my participation in this virtual course very valuable as it provided relevant and applicable information about solvency and liquidity stress tests and other topics that improve analysts’ toolbox. I am looking forward to my next JVI course, as I know that our enriched knowledge will translate into future development and resilience of our countries’ financial system. 

Ms. Irina Zloteanu, National Bank of Romania, Virtual Training on Financial Stability and Supervisory Stress Testing, April 12-15, 2021

I had the opportunity to attend the JVI virtual course on Monetary and Fiscal Policy Analysis with DSGE Models on May 2021. The course significantly added to my understanding of the New Keynesian models and the methodological framework commonly used by policy makers in analyzing monetary and fiscal issues. Overall, the lectures focused on analyzing the intuition of the NK model and the various extensions to the baseline framework, providing a thorough explanation of the transmission mechanism of various economic policy shocks. The Dynare-based workshops provided a step-wise approach on how to construct and estimate DSGE models and how to interpret the results of the various case studies, following the high-standards of the IMF’s Institute for Capacity Development. The hands-on practical exercises illustrated how these models are applied and how they can contribute to the policymaking process. The lectures were highly interactive, and the instructors and JVI staff were very helpful to provide guidance on any technical or coding issue related to the workshops. Many thanks to the whole team for the excellent organization of the course. 

Nikos Ventouris, Bank of Greece

Virtual Course: Monetary and Fiscal Policy Analysis with DSGE Models (May 24-June 04, 2021)

Veronica Chicu

The JVI virtual training on Structural Reforms exceeded all my expectations. The hands-on sessions were also extremely helpful, in terms of both scope and style of presentation. I am very glad that I used this unique opportunity to replenish my knowledge in step with the spirit of the times. Thank you for your huge contribution to the accumulation of knowledge.” 

Greta Adamyan, Ministry of Finance of Armenia, Virtual Course on Structural Reforms, August 24 – September 04, 2020

Course harmony combines complex lectures with practical cases from different countries, trends, changes in policies and programs caused by Covid-19 with well-moderated discussions. It motivates to think broader, to see and analyze combination of tax policy and interlinkages between labor policy and social insurance, moral hazards, unintended consequences. It also focuses on re-building trust to institutions and policies. I highly recommend this course.

Yuliia Sokolovska, minister of Social Policy of Ukraine, virtual course on Social Insurance, Taxation and Employment (April 26-30, 2021)

Structural reforms course taught us how to identify reform gaps, find most vulnerable sectors and argument our reform decisions. Without any doubt, I can say that this knowledge will helo me in solving economic issues in Ukraine. I would like to thank all JVI team profoundly for organization of this online course. 

Mr. Oleg Pavlovskyi, National Bank of Ukraine, Virtual Course on Structural Reforms, August 24  - September 4, 2020  

I would like to express my gratitude to organizers who were involved in preparation and implementation of the virtual course on “Understanding, Assessing and Managing Fiscal Risks” for professional organization, selection of relevant, interesting and very useful topics. The highly organized lectures were accompanied by discussions, surveys, exchange of experience and country-specific examples. The course was designed to include all the key aspects of fiscal risks. I am confident the knowledge gained from the course will help me to better understand, monitor and manage the risks related to public finances. Ani Hunanyan, Advisor to the Program Implementation Department, Ministry of Finance of the Republic of Armenia, Virtual Course on Understanding, Assessing and Managing Fiscal Risks, March 7-11, 2022

Zsolt Szőrfi

“Through the presentations I was able to learn a great deal about the monetary policy frameworks of other countries.”

Mr. Zsolt Szőrfi, National Bank of Hungary
IMF Course on Monetary Polic. January-February 2018

Samvel Margaryan

“The course helped me a lot because I got experience with new tools, which I use in my daily responsibilities.”

Mr. Samvel Margaryan, Ministry of Finance, Armenia
The course of the Austrian Federal Ministry of Finance and the International Monetary Fund on Tools and Policies for Inclusive Growth. November 6-17, 2017

Abdullakh Abishev

“Within the ministry I will hold seminars to share what I have learnt, and I will arrange seminars in other areas of Kazakhstan.”

Mr. Abdullakh Abishev, Ministry of Investment and Development, Kazakhstan
The course of the Austrian Federal Ministry of Finance and the International Monetary Fund on Tools and Policies for Inclusive Growth. November 6-17, 2017

I would like to express my gratitude for the opportunity to attend the JVI course on Climate Change and Green Finance. The course offered very interesting insights into financial risks stemming from climate change, analyzed the consequences for financial stability and discussed potential ways to assess and address those risks. For me, the sessions on climate scenario analysis and stress-testing were particularly beneficial since we are just starting to implement those steps at the NBG. The participants' presentations were also a great touch, as they allowed us to learn about the experiences of peer countries. Mariam Kharaishvili, Chief Specialist, Financial Stability Department, National Bank of Georgia: Climate Change and Green Finance course, June 20-24, 2022

The virtual course on Local Currency Bond Market Development covered and discussed all the key components for assessing the stages of development for countries' local markets. Sharing country cases by participants during the workshop sessions was especially useful. Participants could realize main challenges of their own local market and make policy considerations. I highly recommend this course.

Tamar Kvantaliani

Ministry of Finance, Georgia 

Virtual course on Local Currency Bond Market Development, June 21-25, 2021

Anna Nowak

“Many examples given during the course made some aspects clearer and allowed me to look at some issues from a different perspective.” Ms. Anna Nowak, National Bank of Poland, IMF Course on Compilation of Balance of Payments Statistics. February, 2018

Babken Pashinyan

“The learning progressed from lectures introducing the underlying concepts to hands-on workshops. These helped me to better understand monetary policy.” Mr. Babken Pashinyan, Ministry of Finance, Armenia, IMF Course on Monetary Policy. January-February 2018

Attending the virtual course on Macroeconomic Management in Resource Rich Countries was a unique opportunity to expand my knowledge of macro-fiscal policy and its role in macroeconomic stabilization, better understanding of how the economy responds to commodity price shocks. In addition, the lectures and hands-on workshops were great, because they covered both theoretical and practical aspects of macroeconomic policy issues. I am very grateful to all JVI team for organization of this virtual course!  

Elmir Eyvaz-Zada, Advisor, Ministry of Finance of Azerbaijan, virtual course on Macroeconomic Management in Resource Rich Countries, November 30 - December 11, 2020

First of all, I would like to express my gratitude for having the opportunity to participate in the "Climate Change and Green Finance" course, which was held in JVI from June 20 to June 24, 2022.It should be emphasized that the course attended was extremely well organized, with carefully selected lecturers who presented various topics in the field of green financing in an accessible and detailed manner. The lecturers were very approachable, and it was a pleasure to listen to their lectures.It is also important to point out that the topics covered in the course are well chosen and adapted to the course participants, so that they can get acquainted with various information, important facts and acquire the appropriate knowledge in the best possible way. The interactive approach and panel discussions also contributed to the exceptional quality of this course and the possibility to learn through mutual communication. Finally, without a doubt, the knowledge gained is of great importance for my future work, and once again, I would like to thank you for the opportunity to expand my knowledge as one of the participants in this excellent course. Jelena Tonic, Senior Associate for Regulations, Bank Supervision Department, National Bank of Serbia: Climate Change and Green Finance course, June 20-24, 2022

This is a great summary course of theory, up-to-date best practices and recommendations on compiling various price statistics indexes. Extensive discussion on nitty-gritty details makes the course worthwhile even for experienced specialists.

Quji Bichia, National Statistics Office of Georgia

Virtual Course on Price Statistics (August 2-13, 2021)

Maja Aksentijevic

“Although online learning has become more and more popular, I am a big fan of traditional ways of learning. Through face-to-face learning you can hear the opinions of others, have a discussion, form a new opinion, or even change your point of view.”

Maja Aksentijevic, National Bank of Serbia
IMF Course on Financial Sector Policies (FSP)

Nino Mikeladze

“Vulnerability Diagnostics is an especially important course for emerging markets, which are highly vulnerable to the different kinds of shocks.”

Ms. Nino Mikeladze, Ministry of Finance of Georgia
IMF Course on Vulnerability Diagnostics (VDC). December 4-15, 2017

Diagnosing an economy can be compared with a health checkup, a comprehensive procedure that implies running different tests and interpreting them on the basis of strong theoretical knowledge. The course on Macroeconomic Diagnostics embraced all of it. Thus, it was a great opportunity to plunge into the mechanism of macroeconomics with a real case-study. Personally, I enjoyed sharing views and experience with the lecturers and other participants in a very friendly virtual environment.

Veronika Zagoyti

Central Bank of Russian Federation 

Virtual Course on Macroeconomic Diagnostics (September 20-October 1, 2021)

I'm very happy I had the opportunity to participate in the Competitiveness, Growth and Crises Virtual Course organized by JVI and AA. The course was organized at a high level and had a great structure. It gave an opportunity to understand the current situation, identify existing problems and achieve the best solutions, while getting acquainted with a very effective toolkit, which, of course, I will use in my job responsibilities. The lecturers were great professionals, great organizers who shared their experience and spared no effort to get great results for the participants. I will recommend this, and other courses organized by JVI to my colleagues. I express my deep gratitude. Ani Khanaghyan, Ministry of Finance Republic of Armenia, Virtual Course on Competitiveness, Growth and Crises, February 21 – March 4, 2022.

Veronica Chicu

I am of the opinion that the most efficient way of contributing positively to policy-making decisions is to have practical knowledge of a society combined with scientific data on governance, economics, and politics. Every policymaker periodically should participate in such theoretical courses to refresh their mindset in order to come up with effective policies backed up with scientific data and theories. This is exactly what I think about the course on Inclusive Growth organized by JVI and IMF Institute for Capacity Development. Despite being held in a virtual environment, the course has helped me look at problems such as poverty, inequality, financial instability and climate change from various perspectives, and I am very grateful to organizers and lecturers for this opportunity.

Nijat Rahmanli

Advisor, Employment Policy and Demography

Ministry of Labour and Social Security

Azerbaijan

Mr. Mislav Brkić

“I have been to several JVI courses and they have contributed significantly to my professional progress. The courses helped me gain an in-depth understanding of the complex relations between different sectors of the economy.”

Mr. Mislav Brkić, National Bank of Croatia
IMF Course on Financial Sector Surveillance

I would like to express my best wishes to JVI and my warm gratitude to the organizers who were involved in preparation and organization of the virtual course on “Public Governance and Structural Reforms”. This was a great experience for me. We have covered very important topics related to the reforms in different areas of the economy, had active discussions and group workshops. I would like to mention also the professionalism of the lecturers and JVI staff. Lectures were well organized and we had an opportunity to share experience and discuss useful topics. I will definitely recommend this course to my colleagues. I am also very confident that the knowledge and experience gained from this course will help me to better understand fundamentals of the structural reforms and their implementation in different sectors of the economy. Davit Kirakosyan, Program Manager, Central Bank of Armenia, Virtual Course: Public Governance and Structural Reforms, May 09 - 20, 2022

Diana Ondža

“JVI offers unique opportunities to exchange experiences. The course has been helpful for improving my skills in macroeconomic policy analysis.”

Diana Ondža, Ministry of Finance of Latvia
IMF Course on Financial Programming and Policies 

This is a very interesting subject that was covered in a well-structured course, giving significant background information to understand these types of crises (from past and current events) and providing the lessons to be learned. Professors and experts combined the knowledge and teaching skills that really made the difference. I also got a lot of value from the interactions with the other participants. The wide range of topics covered in this course was really helpful to see the big picture, from different perspectives, based on experience, sharing with and learning from other countries. This course not only provides basic theories of economics of crises, but it also gave me many practical examples that I can apply in my future lectures at the University of Tirana and also in my research work. Thanking the administration for the excellent organization of this virtual training, I highly recommend this course to future participants. 

Ms. Soana JAUPLLARI, University of Tirana, Albania 

Austrian Authorities Virtual Crisis Course: Past and Current Crises and Future Challenges

November 9-20, 2020

This course draws upon many different active learning activities, including quizzes, polls, discussion forum, and others. Online lectures and workshops covered theoretical and practical issues on compilation of the sectoral accumulation accounts and the balance sheets, examined potential data sources for their compilation. I am definitely going to apply the knowledge acquired in the course to cope with the job tasks.

Ms. Hanna Yatsenko, Economist, National Bank of Ukraine, Virtual Course on Balance Sheets and Accumulation Accounts - September 28 - Ocvober 9, 2020

This course provides a strong theoretical background as well as practical framework to identify macroeconomic imbalances and adjust policy measures accordingly to eliminate those vulnerabilities. It also gives an in-depth coverage of the linkages between the main macroeconomic sectors, and enhances understanding of the monetary and fiscal policy combined implications in the medium term. Moreover, the Covid-related case study is particularly relevant nowadays. Thank you to the IMF and JVI for the opportunity to participate in this virtual course!

Diana Balioz, National Bank of Ukraine

Virtual Course on Financial Programming and Policies (October 18-29, 2021)

I would like to express my thanks to JVI for the organization of the virtual course on “Public Governance and Structural Reforms”. This course was an interesting experience, covering a broad range of aspects related to structural reforms, from judicial to medical and environmental topics. What I most appreciated of the course was the approach of presenting several aspects that are important for an economy and that can contribute not only to generating GDP growth, but also to ensuring better life standards. I liked the dynamic presentations, discussions and flexibility and professionalism of the lecturers. As all of JVI seminars, country experiences are brought forward and contribute to a better understanding of the implications of very diverse theoretical concepts. Luminita Tatarici, Senior economist, National Bank of Romania, Virtual Course: Public Governance and Structural Reforms, May 09-20, 2022

This virtual course was well structured and very interactive. It helped me to better understand the monetary policy terms and the close links between liquidity management and the design of the monetary policy instruments that a central banks use. Learning about the implementation of some specific instruments by the ECB gave me a more clear perspective about the COVID-19 crisis. The lecturers were great and they answered many questions. 

Ms. Tamara Cristina Nicolae, National Bank of Romania, Virtual Course on Monetary Policy Implementation, March 8-12, 2021

Margarit Mamikonyan

“The course gives us analytical tools and techniques to improve our decision-making on macroeconomic and macroprudential policies.”

Ms. Margarit Mamikonyan, Central Bank of the Republic of Armenia
IMF Course on Vulnerability Diagnostics (VDC). December 4-15, 2017

I thoroughly enjoyed the JVI virtual course and gained considerable insight on various core concepts. A more systematic approach for the options to decrease the deficit in pension spending, implementation of special schemes for taxpayers and introduction of different ways to digitalize the system have equipped me with in-depth knowledge. The suggestions and assessments about noncontributory schemes in the field of pensions and social insurance were very vital. Especially the case study gave a great opportunity to provide substantial ideas and creative solutions made it possible to learn detailed and essential international experience by sharing best practices. This course gave an opportunity to generate ideas for more effective strategies and techniques for the development of the field of social insurance, taxation and employment. I highly recommend this course and would encourage anyone working in this field to enroll. 

Fidan Mamedova, Ministry of Labor and Social Security of Azerbaijan, virtual course on Social Insurance, Taxation and Employment (April 26-30, 2021).

Lia Dzebisauri

“JVI courses give me a great opportunity to expand my knowledge, analytical thinking, and skills. I had an excellent chance to meet colleagues from other countries and share experiences and best practices.” Ms. Lia Dzebisauri, National Statistics Office, Georgia, IMF Course on Compilation of Balance of Payments Statistics. February, 2018

I would like to express my utmost gratitude for having the opportunity to take part in one week course on Investment and Investment Finance – Guiding Principles and the EIB Group Expertise, organized by the EIB and the JVI. It was my second course after a long time pause and I was really impressed.

The information provided by EIB group professionals and the course materials were very interesting, clear and useful, and I hope the knowledge I gained will help me in my everyday work related to potential EIB investments.

The JVI is an educational institution that always brings people together in such a way that the students feel they are part of the process, process of learning by doing. Even in pandemic situation your team made the best and everything was perfectly organized.

Thank you the JVI and the course team for giving me the chance again to be your Alumni!

Krasina Georgieva, International Financial Institutions and EU Funds, Bulgarian Development Bank (BDB). Virtual course on Investment and Investment Finance – Guiding Principles and the EIB Group Expertise (October 18-22, 2021)

Fostering growth and handling tumultuous periods are the primary obligations of an economist. "Competitiveness" is the umbrella of concepts, tools, and policies that can serve to catalyze growth and buffer crisis. Integrating the environmental and social aspects of life into the discussions about competitiveness and disrupting the traditional economic models related to it was what I liked the most from the "Competitiveness, Growth and Crisis" course. Amid the COVID-19 crisis, the insights conveyed were distinctly beneficial. 

Olsi Pajo - Bank of Albania

Austrian Authorities Virtual Course on Competitiveness, Growth and Crisis, March 01-12, 2021

Ms. Marina Petrov

“The course is workshop-intensive, it keeps you thinking about the topic in a problem-solving way. I already have some ideas about how to try things mentioned in the lectures at home.”

Ms. Marina Petrov, National Bank of Serbia
IMF Course on Financial Sector Surveillance

Elena Laura

“The EBRD course gave me a better understanding of the current and potential risks, such as price variations, currency and interest rate, and how to mitigate them. Also, it enabled me to reconsider my leadership and communication styles in order to engage more with my working colleagues on common issues.”

Ms. Elena Laura Ciubotaru, Romania
EBRD Management Training for Chief Financial Officers

Irina Cebotari

“The JVI training has had an impact on the quality of the analyses I have been performing, and has contributed to my gradual career progress from an entry-level economist position.”

Ms. Irina Cebotari, National Bank of Moldova
IMF course on Managing Capital Flows: Macroeconomic Analysis and Policies (MCF). November 6-17, 2017

The participation in the FDI course unequivocally contributed to our understanding of the complex factors affecting the global investment environment. To meet the needs of all participants with different professional backgrounds, the lectures were carefully tailored to cover a wide array of topics including political risk, FDI and economic growth, investment promotion, and reform policies in developing countries. Furthermore, the course featured speakers from public and private sectors as well as international organizations to provide an all-encompassing perspective pertaining to investment trends worldwide. More importantly, the training was an ideal combination of theory and practice. The class discussions and the workshop involving real-life scenarios were designed to encourage the participants to thoroughly analyze issues impacting good governance, economic prosperity, and political stability. Erik Khzmalyan, Manager of Investment Promotion and Foreign Relations, Enterprise Armenia, Foreign Direct Investment Policies Course, September 5-9, 2022.

Olga Zykova

“The course has given me a sound foundation on financial systems and an understanding of the complexity of financial system development in terms of prudential policies and measures, especially in a highly changeable economic environment.”

Olga Zykova, Ministry of Finance of Ukraine
IMF Course on Financial Sector Policies (FSP)

Ievgenii Skok

“I am confident that this course will ensure better insight into how to formulate and apply policies in different monetary regimes, as well as about global trends and country case studies.” Mr. Ievgenii Skok, National Bank of Ukraine, IMF Course on Monetary Policy. January-February 2018

Jelena Sarovic

“The course examined the issues that central banks face recently, macro-prudential stress tests, experience gained during the crisis and stress tests within the EU. It presented various econometric models used in the implementation of stress tests which is important for improving existing knowledge in this field. Lecturers were knowledgeable and dealt with issues related to creation, analysis and legal framework for maintaining the solvency stress tests.”

Ms. Jelena Sarovic, National Bank of Serbia
OeNB course on Financial Stability and Supervisory Stress Testing for Banking Systems. January 14-17, 2019

All the topics presented and the workshops in the agenda are very relevant to my work. I appreciate the way all the important issues were referred to in the vast scope of NPLs’ regulation and the possible implications of their management on banks and their supervision, respectively.
The lecturers showed superb experience and it was a pleasure to discuss with them and the other participants various practical matters arising from the interesting case studies that we had. The whole course is definitely very useful and deserves every effort on the virtual steps we made together at JVI. Maria Chankova, Chief Inspector Banking Supervision, Bulgarian National Bank: NPL Management and Resolution course, July 11-15, 2022

The very well-prepared course has broadened my angles from different perspectives of policy support measures. Thus, a selection of core and elective panels strengthened my proficiency in this special field and will enable me to use the outcomes of the course in my professional career in drafting the process of legislative acts.

Farahim Huseynzade, Central Bank of Azerbaijan, Virtual Course on Policy Support for the Private Sector (September 27-October 1, 2021)

We definitely recommend this seminar - these were the words of my colleagues who participated in the virtual course on Bank Restructuring and Resolution last year. I applied for this year’s seminar and had the privilege to be a part of it. This course had everything I expected – nice balance of lectures and exercises; regulatory and practical aspects of effective resolution regime; various aspects of problem bank supervision and resolution along with crisis management challenges. 

I found my participation in this virtual course valuable as I am directly involved in the ongoing central bank activities for further strengthening of the financial sector safety net and enhancements of the existing bank resolution framework. I warmly thank the hosts for the excellent organization of this online training and the speakers for the clearly delivered and up-to-date presentations. Milica Arnaudova Stojanovska, National bank of the Republic of North Macedonia, Virtual Course on Bank Restructuring and Resolution.

Milica Arnaudova Stojanovska 

National Bank of North Macedonia

Virtual Course on Bank Restructuring and Resolution (May 10-14, 2021)

Assel Kadyrbayeva

“All the knowledge gained in this course will be useful at work, especially to analyze the sustainability of the external balance.” Ms. Assel Kadyrbayeva, National Bank of Republic of Kazakhstan, IMF Course on Vulnerability Diagnostics (VDC). December 4-15, 2017

I am overly pleased by participating in a virtual course held by IMF and JVI, which offered a unique opportunity and valuable insights of common and specific challenges, possible solutions, as well as good practices in resource-rich countries. Well-organized sessions, enthusiasm and dedication shown by lecturers, useful practical and theoretical materials created a favorable environment for in-depth learning and successful participation. 

Jeyhun Aghayev, Head of Division, Medium-Term Expenditure Framework Development Center, Ministry of Finance, Azerbaijan

Virtual Course on Macroeconomic Management in Resource Rich Countries, November 29-December 10, 2021

The virtual course was an excellent opportunity that introduced us to wide range of aspects and policy tools related to financial stability of central banks. I found different practical workshops and discussions extremely useful to better understand key aspects of stress testing. Moreover, I benefited from participants' involvement vis-à-vis climate change implications, which are a vital part of macroprudential policy analysis moving forward. Their different viewpoints enriched my perspective.

Maja Sabol, Croatian National Bank, Virtual course on Financial Stability Policy of Central Banks, May 31-June 4, 2021

„The course was well-structured and clearly delivered.

The practical aspect of the topics was particularly helpful.

All participants had a chance and were encouraged to reflect their views on current issues and contribute to the discussion with top-notch lecturers.

The course definitely gave me a foundation to dive deeper into EU legislation and further develop my knowledge.

Altogether, worthy experience and highly recommended course.

Thumbs up to JVI stuff for excellent organisation and remarkable technical support.“

Mr. Admir Dzaferovic

Banking Agency of the Federation of Bosnia and Herzegovina

Virtual course on Banking Supervision within the Basel Framework, 

January 18-22, 2021 

The growth of foreign direct investments leads to the welfare of individual countries, however, determining the right policy for FDI attraction remains a constant challenge. Training course organized by JVI - FDI policy was coherent and adapted to new challenges, led to a certain results. All stakeholders, including the policy makers and implementers were involved in the training. We also had a chance to meet real investors and learned from them about all major factors that has an influence on investment decisions, as well as on the process itself, which made the course even more attractive. Magda Bolotashvili, Deputy Director General, Georgian Chamber of Commerce and Industry, Foreign Direct Investment Policies Course, September 5-9, 2022. 

Tatiana Scoarta

“The course on Residential Property Price Indices (RPPIs) provided practical guidance on methods for compiling RPPIs based available data and country-specific characteristics. Learning and networking encourages participants to exchange experiences, which can give valuable insights into what can eventually be implemented.” Ms. Tatiana Scoarta, National Bank of Moldova, IMF course on Residential Property Price Indices. IMF Course on Financial Sector Surveillance

I attended the JVI "Financial Inclusion" virtual training on January 2021. The course provided knowledge on the main indices for financial inclusion, why they matter, presented growing areas of interest in the field, and what are the basic actions needed to facilitate financial inclusion.  The lecturers where excellent, providing knowledge at the highest degree, as well as stirring an active conversation on each topic, allowing to thoroughly explore these topics in a pleasant and friendly environment.  The course surpassed my expectations and I would recommend it to anyone who is working in these fields, whether she wants to build her knowledge or widen it. Maya Haran Rosen, Bank of Israel, Virtual course on Financial Inclusion, 25-29 January 2021

Vesna Plaznik

“We learned at the Residential Property Price Indices course about several methods of calculating indices, how to compare them, and most useful – how to interpret the results. The theory was well-reasoned and supported by practical examples from real situations, which will definitively help me in my future work.” Ms. Vesna Plaznik, Statistical Office of Slovenia, IMF course on Residential Property Price Indices

I attended the virtual course Financial Education on  February 22-26. This topic is very important especially in a time of crisis. It was a great opportunity for me to learn more about best practices and key financial education tools. I will definitely apply the insights gained from this course.

I warmly thank the organizers for the excellent organization of this online training and the speakers for the quality of the presentations.

Ms. Fatima-Zahra Aziz, Moroccan Foundation for Financial Education (FMEF), February 22-26, 2021

Iurii Drachuk

“In my opinion, face-to-face training is most effective since it allows immediate interaction with the lecturer.”

Mr. Iurii Drachuk, Ministry of Finance, Ukraine
The course of the Austrian Federal Ministry of Finance and the International Monetary Fund on Tools and Policies for Inclusive Growth. November 6-17, 2017

Veronica Chicu

During the period of coronavirus pandemic, when face-to-face training is limited, online training about "Public Governance and Structural Reforms" organized by JVI was an excellent opportunity to get theoretical and practical knowledge about structural reforms in the public sector. The course covered almost all critical issues of public governance, including privatization, competitiveness, regulatory impact assessment, macroeconomic policy, digitalization and social security. It offered participants a unique opportunity to learn about all the policy instruments necessary to make an effective and transparent decision in the public sector, particularly during the emergency like this pandemic. Knowledge gained in this course will be useful at my work, especially to analyze the regulatory framework and structural reforms and assess their impact on business and society. Sergo Sanikidze, the Office of the Business Ombudsman, Georgia.

Veronica Chicu

The Inclusive Growth virtual course deepened my understanding of inclusive growth, expanding my knowledge in using the appropriate analytical tools to examine measures and policies that might have an impact on issues that are central, especially in times of high uncertainty, as inequality and job prospects. Through discussions of country experiences, the course offered responses related to the difficulties in implementing policies that target inclusive growth, as well as the strategies to be followed. 

Ms. Iris Metani, 

Economist, Monetary Policy Department, Bank of Albania, 

Virtual Course on Inclusive Growth, August 31 – September 04, 2020.

The virtual Crisis Course has significantly expanded my understanding of the causes and consequences of economic crises, while also offering a comprehensive perspective on the various policy approaches aimed at dealing with crisis-related challenges.  I am more than convinced that the knowledge I gained in the two weeks of this course will greatly benefit my performance on professional assignments.  

Mr. Jacek BIALEK, Ministry of Finance, Funds and Regional Policy, Poland

Austrian Authorities Virtual Crisis Course: Past and Current Crises and Future Challenges

November 9-20, 2020

Aygun Garayeva

“Since the global financial crisis, it has become apparent that no countries, even the most advanced, are immune to economic crises.”

Ms. Aygun Garayeva, Central Bank of Azerbaijan
IMF Course on Vulnerability Diagnostics (VDC). December 4-15, 2017

It is challenging to offer a course on competitiveness - a very elusive and ambiguously defined concept, especially on the macro level. That is why I highly appreciate the issues discussed during the course and the practical approach to all topics. The idea of "competitiveness", competitiveness indicators, and a policy related to competitiveness were fully unpacked during the course.  

Magdalena Olczyk – Gdansk University of Technology, Poland

Austrian Authorities Virtual Course on Competitiveness, Growth and Crisis, March 01-12, 2021

Bakhtiyor Taylakov

“This course gives very necessary and important practical and theoretical economic knowledge within a short period.”

Mr. Bakhtiyor Taylakov, Central Bank of Uzbekistan
IMF course on Managing Capital Flows: Macroeconomic Analysis and Policies (MCF). November 6-17, 2017

“The JVI virtual course “Financial Programming and Policies” allowed me to deepen my understanding of the interlinkages between macroeconomic sectors and provided an extensive overview of the IMF’s financial programming framework. The case study, which entailed conducting a realistic financial programming exercise in groups, helped me not only to consolidate my knowledge, but also to understand the trade-offs between different policy choices, pre- and post-COVID-19. I also benefited from hearing about the lecturers’ and participants’ experience with various practical issues and challenges. Many thanks to the JVI team for organizing such an excellent course!”

Ms. Raluca Enache, National Bank of Romania, virtual Financial Programming and Policies Course, February 08-19, 2021

Veronica Chicu

As someone who is at the beginning of the professional path, Financial Sector Surveillance course has helped me a lot in a better overall understanding of the financial sector. Theoretical concepts were perfectly demonstrated through exercises and real-life examples. In my opinion, the advantage of this and other JVI courses is that they are conducted by true experts in that field. Another aspect worth mentioning is the interchange of best practices among participants who are coming from all around the world. I look forward using the knowledge I acquired on this course, as well as participating in other courses. Many thanks to the administration and everyone who helped make this course happen!

Looking foward to another interesting courses!

Aleksandra Bogdan

Analyst, Systemic Risk Department

Financial Services Supervisory Agency, Croatia

Financial Sector Surveillance – Virtual Training, October 26-30, 2020

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