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JVI Newsletter ▪ November 2025

Friends of the JVI, I hope that this newsletter finds you all well. As we move towards the end of the year, the JVI continues to host participants for courses and workshops across a wide range of economic policy issues. This newsletter reports on a Bank of England/JVI Exploration of Macroprudential Tools for Banks and Non-Banks and a course on the Future of Taxation. I also invite you to read about Laurent Millischer’s time at the JVI as he leaves the team, and Mariia Mutel who joined us just a few weeks ago. If you have any questions, comments, or feedback, please contact us at jvi@jvi.org. Many thanks to Rilind Kabashi, our Editor, as well as Maša Valenko, Assistant Editor, and all the contributors to this edition. P.S. As reminder, course deadlines are fast approaching for Selected Issues in the Regulation and Supervision of Fintech, Financial Education Initiatives–Best Practice and Strategies, and Competitiveness, Growth and Crisis, and many more. In addition, you can apply for the Applied Economic Policy—our flagship course which has been running for over 25 years—which covers fiscal, monetary and external sector policies, financial sector issues, trade policy, the Austrian political and economic system, as well as interpersonal and presentation skills. Ben Kelmanson Director, Joint Vienna Institute

COURSE NEWS   Macroprudential Tools for Banks and Non-Banks – Exploring the Issues with the JVI and Bank of England The Joint Vienna Institute, in collaboration with the Bank of England’s Centre for Central Banking Studies, delivered the sixth edition of the course on Macroprudential Tools from September 16 to 20, 2025. Building on the strong tradition of previous offerings, this year’s... Read more  >>>   Course on Future of Taxation Launched in 2020, the one-week Future of Taxation (FoT) course was again delivered this year from September 15 to 19. It is one of the few JVI courses devoted exclusively to taxation, designed for officials working in both tax policy analysis and tax administration. The program... Read more  >>> STAFF NEWS   Moving on: Interview with Laurent Millischer, Departing Senior Economist at the JVI Laurent Millischer joined the JVI in 2020. As he moves on to a new role, he reflects on his experience, achievements, and the path ahead. Laurent, what do you remember from when you first joined the JVI five years ago? I joined in November 2020, right as we entered another... Read more  >>>   New Staff Member: Mariia Mutel Mariia joined us as a Program Officer in October 2025. She holds an MA in International Relations from Central European University and has gained international experience at the Institute of Science and Technology Austria, the Crimea Platform, and GLOBSEC. With expertise in... Read more  >>>   LAST CHANCE TO APPLY Financial Education Initiatives – Best Practice and Strategies Competitiveness, Growth and Crisis Securities Statistics Monetary Policy Implementation Macroeconometric Forecasting and Analysis Structural Reforms HR Issues in a Changing World Financial Sector Surveillance COURSE SCHEDULE 2026 NEW: Program Overview 2026

The Joint Vienna Institute is a regional training center, primarily for public sector officials from countries in Central, Eastern and Southeastern Europe, the Caucasus and Central Asia. It was established in 1992 by the Austrian Authorities (represented by the Federal Ministry of Finance and the Oesterreichische Nationalbank), the International Monetary Fund, and several other international organizations. Read more >>> Should you no longer wish to receive our newsletter, please unsubscribe.