Message from the Director

I am delighted to present JVI’s 2019 training program. I hope it provides readers with a sense of the wide range of training and capacity building activities provided by the JVI, and encourages public officials in the JVI target region to think about how training in Vienna can advance their home institutions’ objectives and contribute to their own career progression.

Moreover, I am particularly pleased to note that in April 2018 our Primary Members – the Austrian Authorities and the International Monetary Fund (IMF) – decided to renew the agreement underpinning the JVI for another four years. This agreement testifies to their continued commitment to building strong economic institutions in the countries of Central, Eastern, Southeastern Europe, the Caucasus, Iran, Turkey, and Central Asia.

What was special about 2018 at the JVI? Perhaps the most noticeable development was the increase in course offerings. The number of courses was 87 and the number of course weeks was 123, in both cases significantly higher than in previous years. Demand for training at JVI remains strong, and our Contributing Members – the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Organisation for Economic Cooperation and Development (OECD), the World Bank, and the World Trade Organization (WTO) – as well as the European Commission, find Vienna and the JVI to be a convenient, cost-effective platform for capacity building in the region.

We were very pleased to host Johannes Hahn, European Commissioner for European Neighbourhood Policy and Enlargement Negotiations, for the JVI Annual Lecture in June 2018. He spoke about the EU’s Western Balkans Strategy and engaged with members of parliament from the Western Balkans who were at the JVI for an IMF workshop that day.

As in previous years, about three quarters of the training at the JVI was provided by Primary Members – Austria and the IMF. Course attendees originate from central banks (40 percent), ministries (33 percent), and other government institutions. We are very pleased that the share of female participants is now durably on par with that of male participants.

In February 2018, the IMF held a workshop on Gender Budgeting at the JVI that was very well received. As in previous years, the IMF also conducted a peer-to-peer workshop for central bankers from the Caucasus and Central Asia and two seminars for parliamentarians from JVI target countries. We were very pleased that the Financial Stability Institute of the Bank for International Settlements (BIS) delivered a regional seminar in June on the Basel Framework. The BIS was an original founding member of the JVI, and it is great to have them back!

How do we see the program for 2019? The JVI’s strategic objective remains to help its target countries strengthen their institutional and human capacity to design and implement economic and financial policies consistent with economic stability and sustainable, equitable growth. With this goal in mind, the JVI will again offer a wide array of hands-on, policy-oriented training courses and workshops covering general macroeconomic issues; monetary, fiscal, financial, and structural policies; and many other specialized topics. These offerings reflect the vast scope and depth of expertise contributed by the JVI’s partner organizations.

Most of the JVI’s courses in the coming year will again be offered by the IMF. These offerings include well-established courses such as Financial Programming and Policies and Macroeconomic Diagnostics, as well as more advanced topics like Model-based Monetary Policy Analysis and Forecasting and Monetary and Fiscal Policy Analysis with DSGE Models.

The Austrian Authorities – Oesterreichische Nationalbank (OeNB) and Federal Ministry of Finance (BMF) – are committed to delivering a substantial number of courses in 2019 as well, including Sound Fiscal Institutions (BMF) and Financial Stability and Supervisory Stress Testing for Banking Systems (OeNB). Austria will also offer a very popular course, Public Governance and Structural Reforms in May as well as several courses centered on supporting European economic integration, some of them in cooperation with the European Central Bank. Finally, the Austrian Ministry of Finance and the IMF will team up in November to present Tools and Policies for Inclusive Growth, a course for which there is always significant excess demand.

Our Contributing Members – EBRD, EIB, OECD, World Bank, and WTO – will again offer a number of courses of interest in their respective areas of expertise. I would also like to highlight the important role played by the European Commission as an Observer and as a contributor to courses on European integration and accession to the European Union.

The JVI’s flagship course, Applied Economic Policy (AEP), continues to evolve to meet the needs of younger public officials who show great promise for future advancement in their institutions. While in the 1990s the course used to be as long as six months, the 2019 AEP will be reduced from seven to five weeks in duration with the goal of making it easier for agencies to release critical staff to training for an extended period.

Let me also call attention to the JVI’s extremely popular Structural Reforms course, offered in collaboration with many of our Contributing Members and stakeholders. Moreover, we will continue to deliver high-level courses with partner central banks such as the Deutsche Bundesbank, the Bank of England, and the Banque de France, as well as the Financial Stability Institute of the BIS.

Face-to-face training will remain the core of the JVI’s activities, but we are also working with the IMF on the development and delivery of an increasing number of online courses—see and the IMF’s Smart Catalog. Successful completion of online courses boosts a participant’s chances of being selected for face-to-face courses in Vienna.

Thomas Richardson
Director, Joint Vienna Institute

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