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JVI Newsletter ▪ October 2019

Please find below the October 2019 edition of the JVI Newsletter, which again includes a number of articles of interest to policy makers and analysts in the region. Vitor Gaspar, Director of IMF Fiscal Affairs Department, gave this year’s Annual Lecture on Transparency in Public Finance, and we hosted a number of other events, such as on Connectivity in Europe and Asia, World Economic Outlook, and the Asian Experience with Non-Performing Loans. In this Newsletter we also report on the successful first delivery of a joint course with the Deutsche Bundesbank on Monetary Policy Communication and on an EU-funded course on Financial Stability for Western Balkan Countries. Our 2020 training program is now online! We will again offer a wide variety of hands-on, policy-oriented training courses and workshops. New courses include a seminar on FinTech by the JVI and its stakeholders, a course on The Future of Work organized with the International Labour Organization, and the Fiscal Costs of PPPs delivered by the IMF. We will also repeat the courses successfully introduced this year, such as on Monetary Policy Communication, Non-Performing Loans, and Real Estate Analysis.  As always, our goal with these Newsletters is to bring together stories and news from the JVI in one place on a quarterly basis. Among other things, we highlight upcoming deadlines for application to JVI courses. We are naturally very interested in feedback on the content of the Newsletter, and on the activities of the JVI more generally. Please do share your views with us at jvi@jvi.org. Thanks are due to contributors, and to Adam Gersl, Nensi Dragusha and Christoph Daniel for pulling the Newsletter together. We look forward to seeing many of you here at the JVI during the coming months! Thomas Richardson, Director

LATEST NEWS   Annual Lecture: Transparency in Public Finance A major argument against double-entry accounting in the public sector is its technical complexity. Yet as early as the 14th century Italian city-states used double-entry bookkeeping for their finances. Their rulers relied on this comprehensive way of producing financial... Read more  >>>   New EU-Funded Course on Financial Stability for Western Balkan Countries On 26 March 2019 the European Union (EU), 18 National Central Banks from the European System of Central Banks (ESCB) and the European Central Bank launched a program for the benefit of six Western Balkans countries (Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North... Read more  >>>   Analytical Chapters of the Fall 2019 IMF World Economic Outlook Could a major push for structural reform help reignite growth and income convergence for emerging market and low-income economies? Within advanced economies, how much does economic activity differ by region? How much do local labor demand shocks in advanced economies affect... Read more  >>>   New Joint JVI/Bundesbank Course on Monetary Policy Communication For the first time, the Joint Vienna Institute (JVI) and the Deutsche Bundesbank (DBB) offered a course on Monetary Policy Communication. The training took place in Vienna during July 15-19, 2019, and brought together participants working in the area, with most coming from... Read more  >>>   Addressing NPL Problems with Public Asset Management Companies: Lessons from Asia The Asian financial crisis (AFC) of 1997–98 was a watershed moment for many Asian economies. Non-performing loans (NPLs) were particularly problematic for crisis-affected countries because their financial systems were bank-based. Ms. Park reviewed the Asian experience of using... Read more  >>>   Connecting Europe and Asia China’s Belt and Road Initiative (BRI), the New Silk Road project, is expected to affect many countries in Africa, Asia, and Europe, which in turn raises many questions: What are the most efficient ways to improve transport infrastructure to better connect Europe and Asia to the... Read more  >>> STAFF NEWS   New Staff Member: Nensi Dragusha Nensi joined the JVI Team as a Management Assistant in September 2019. She previously worked for four years as an HR Assistant for UN Industrial Development Organization (UNIDO). Before joining UNIDO, she worked for seven years in the Tourism Industry and gained profound... Read more  >>>   APPLICATION DEADLINES November Financial Markets and Instruments External Debt Statistics Fiscal Costs and Risks from PPPs Macroeconomic Management in Resource Rich Countries Banking Supervision within the Basel Framework Sound Fiscal Institutions Gender Budgeting Macroeconomic Diagnostics Competitiveness, Growth and Crisis Monetary and Financial Statistics - Advanced Financial Sector Surveillance December  Financial Education Debt Sustainability Framework for Low-Income (DSF) Monetary Policy Implementation Macroeconometric Forecasting and Analysis Financial Programming and Policies EBRD Workshop Legal Frameworks for Banking Supervision and Resolution HR Issues and Compliance Assessing and Managing Credit Risk from Contingent Liabilities: A Focus on Government Guarantees January  Monetary Policy Legal Aspects of International Financial Institutions Social Protection, Taxation, and Employment Trade Policy Topics in Systemic Macro-Financial Risk Analysis Medium-Term Budgetary Frameworks, Fiscal Rules, and Fiscal Councils: Options to Ensure Fiscal Sustainability Full schedule here  VIDCASTS JVI Annual Lecture: Transparency in Public Finance

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.