TARGET GROUP | Junior to mid-level government officials involved in fiscal policy design and monitoring, specifically including the staff of the ministry of finance, ministry of economy, central bank, and other agencies involved in macroprudential oversight. Participants should have a degree in economics or finance or equivalent work experience, good quantitative skills, and proficiency in the use of computers to analyze data. Participants are encouraged to complete the online FPP.1x and FFP.2x courses (or face-to-face FPP) and the Fiscal Policy Analysis (FPA) course prior to enrolling in this course. Many of the workshops involve the use of Excel worksheets and familiarity with the basics of Excel is essential.
DESCRIPTION | This two-week course, presented by the IMF’s Institute for Capacity Development, starts with essential concepts to measure and analyze fiscal policy consistency and effectiveness, then moves to the study of fiscal frameworks as best practices devised to foster fiscal discipline (including fiscal rules and fiscal councils to promote transparency and accountability). Discipline in fiscal policy is essential to achieve macroeconomic stability and minimize the risk of unsustainable dynamics that hamper long-term adequate and inclusive growth. The course concludes with thematic presentations by participants.
Upon completion of this course, participants should be able to:
• Describe recent fiscal policy methodologies and tools
• Adopt a critical approach to assess data quality for fiscal policy
• Design fiscal rules for countries’ specific problems
• Use an in-year monitoring tool for fiscal performance
• Contribute to building a medium-term budget (for consolidation or stimulus) while limiting recession risks and respecting sustainability