TARGET GROUP | Mid-level to senior officials from central banks, ministries of finance, and other government agencies tasked with design and execution of policies in resource-rich countries (RRCs). Participants are expected to have an advanced degree in economics or equivalent experience and be proficient in the use of Excel.
DESCRIPTION | This two-week course, presented by the IMF’s Institute for Capacity Development, deals with RRC macroeconomic policy issues. The course incorporates lectures, hands-on workshops, debates, case studies, and online warm-up exercises.
The course teaches participants to:
• Assess how RRC economic performance may differ from that of other countries in terms, e.g., of growth, inclusive growth, political economy, resource curse, economic diversification, and Dutch disease
• Apply simple fiscal benchmarks to determine how much to extract, consume, and save from the sale of natural resources and modalities for savings, such as a sovereign wealth fund
• Design an effective fiscal framework and regime
• Identify macroeconomic policy responses to commodity price shocks
• Assess the extent of transparency in the management of natural resources