Austria and the IMF Renew Agreement on the Joint Vienna Institute

July 02, 2018

For 26 years the International Monetary Fund and Austria have collaborated to provide high quality training to public officials in Central, Eastern and Southeastern Europe, the Caucasus and Central Asia. This partnership has been the centerpiece of the IMF’s capacity building efforts in Europe and Central Asia since the start of the economic transition from planned to market economies. I am very pleased therefore to note that, on April 22, 2018, Austrian Minister of Finance Hartwig Löger, Oesterreichische Nationalbank’s Governor Ewald Nowotny and Vice Governor Andreas Ittner, and IMF Managing Director Christine Lagarde signed an agreement to continue the JVI through 2022.

As highlighted by IMF Managing Director Lagarde, “Austrian-IMF cooperation on the JVI affirms the importance Austria attaches to economic policy-oriented capacity development in emerging Europe and Central Asia. The IMF is thankful for Austria’s steady support to JVI.”

At the same time, Finance Minister Löger emphasized that “strengthening the capacity of economic institutions results in more effective policies, enabling greater stability and growth. By providing training to public sector officials, Austria is continuing to build strong relations with its neighbors.” Governor Nowotny added that “for more than a quarter century, the JVI has promoted sound macroeconomic policy-making in the region and fostered peer-to-peer exchange amongst central bankers and public officials.”

I am extremely grateful to our Austrian and IMF partners for providing steady intellectual and financial support to the JVI over many years. Between them, Austria and the IMF account for almost three fourths of the course offerings at the JVI. These courses range from Monetary and Fiscal Policy Analysis with DSGE Models to Financial Education, Gender Budgeting, Inclusive Growth, and Balance of Payments Statistics. This breadth of training activities testifies to the creativity and wealth of experience of experts from the Austrian Federal Ministry of Finance, the Oesterreichische Nationalbank, and the International Monetary Fund.

Thomas Richardson, Director, JVI

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