The 2025 High-Level Peer-to-Peer Workshop for Central Bankers from the Caucasus, Central Asia, and Mongolia

The 10th International Monetary Fund (IMF)- Capacity Development Center for the Caucasus, Central Asia, and Mongolia (CCAMTAC)-Joint Vienna Institute (JVI) peer-to-peer workshop for central bank practitioners from the Caucasus, Central Asia, and Mongolia (CCAM) was held in Vienna during June 24-25, 2025. The workshop was attended by 21 senior central bank officials from nine countries, and included presentations by staff from the IMF, the JVI, country participants, and external speakers from the Austrian National Bank, Bank for International Settlements, European Central Bank, National Bank of Slovakia, and Sveriges Riksbank. 

The sessions this year discussed the following issues: (i) lessons from the recent inflation surge episode for monetary policy frameworks; (ii) the regional economic outlook and its implications for monetary policy; (iii) assessing and managing central bank balance sheet risks; (iv) monetary policy communication; (v) the use in selected country cases of the IMF’s Integrated Policy Framework (IPF), which jointly considers the role in responding to economic shocks of monetary policy, foreign exchange interventions, macroprudential measures, capital flow management measures, and their interactions with each other and other policies; and (vi) artificial intelligence and central banking. As usual in this workshop, the discussions on the various topics among participants, most of them central bank deputy governors and department directors, were frank and very rich, with a lot of peer-learning happening during and outside sessions.

The 11th CCAM workshop is expected to take place in Vienna in 2026.

Hervé Joly, Director, Joint Vienna Institute