Cohort Training on Exchange Rate Policies and Managing Capital Flows

ERP (C-MCF)

TARGET GROUP | Junior to senior officials in ministries of finance or economy, central banks, and other government agencies responsible for implementing macroeconomic and exchange rate policies, capital flow management measures and capital account liberalization. The training is particularly beneficial for officials seeking to understand the interaction among macroeconomic policies, exchange regimes and capital flow management measures when addressing external sector shocks.

QUALIFICATIONS | Participants are expected to have an advanced degree in economics or equivalent experience, good quantitative skills, and a basic knowledge of Microsoft Excel. It is expected that applicants would have previously completed either the Financial Programming and Policies (FPP) or the Macroeconomic Diagnostics (MDS) course.

COURSE DESCRIPTION | This course gives a comprehensive overview of exchange rate analysis and policy, and capital flow management policies. Participants will gain new perspectives on exchange rate policy challenges, capital account liberalization and the management of capital flow volatility. The “cohort” approach means that the same group of participants will go through the entire program together. Through collaboration in small groups, they will refine their problem-solving abilities and build professional networks with peers working from diverse viewpoints. The course includes actual country case studies, and participants are expected to engage in discussions and work on practical workshop exercises to solidify their understanding of the lecture material.

The program includes the following structure and time commitment:

• Exchange Rate Policy Course: August 17-28, 2026, in-person in Vienna.

• Managing Capital Flows Course: November 30-December 11, 2026, in-person in Vienna.

COURSE OBJECTIVES | By the end of this cohort training, participants will be able to:

• Assess reserve adequacy with traditional metrics and those used by the IMF.

• Assess external balance position with the methodologies used by the IMF.

• Construct systems for early warning of currency crises using data on nominal exchange rates and international reserves.

• Describe the exchange rate regime choice and how country-specific features could influence the choice.

• Identify the financial and economic risks that a global capital market creates for both small and large economies.

• Understand the appropriate sequencing of capital account liberalization and associated reforms.

• Identify how policy actions can influence or prevent the occurrence of capital account crises.

• Understand the key features of the IMF’s Institutional View on capital flow management, and the use of macroeconomic policies, macroprudential measures and capital flow management tools.

• Apply the IMF’s Integrated Policy Framework to analyze how the coordinated use of macroeconomic policies, foreign exchange intervention, macroprudential measures and capital flow management measures can be used in response to external shocks.

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Детали

Начало: 2026081717 авг
Окончание: 2026082828 авг

Язык(и): Eng/Pyc

Организация-спонсор: IMF

Организационные вопросы

Крайний срок подачи заявки: 17 мая 2026 r.

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