TARGET GROUP | Mid- to senior-level officials from central banks, ministries of finance and other relevant government agencies involved in the design and execution of policies in resource-rich countries. Participants should be involved in the design and execution of policies in resource-rich countries and have a good understanding of macroeconomic, fiscal, and financial issues.
DESCRIPTION | This two-week course (an updated version of the former Macroeconomic Management and Natural Resource Management course), presented by the IMF’s Institute for Capacity Development, aims at broadening participants’ understanding of the challenges faced by resource-rich countries. Drawing upon the Fund’s experience as well as academic contributions to the policy debate, the course provides participants with analytical skills to study the challenges faced by resource-rich countries and the policy responses. The skills developed during the course would allow participants to understand and develop a wide range of macroeconomic policies, including the implications of alternative fiscal rules and tax regimes, and alternative monetary and exchange rate policy frameworks in dealing with the key challenges of commodity price volatility and exhaustibility of natural resources. The course will discuss factors impacting economic growth and inequality in resource-rich countries, including structural reforms. The course also provides the opportunity to discuss in depth a number of case studies of natural resource-rich countries that are adapted to the regional offerings of the course.