This course is designed for mid- to senior-level officials in central banks, ministries of finance, other economic and regulatory ministries, agencies, and institutions involved in the formulation and implementation of macroeconomic and financial-regulatory policies.

Participants should have an advanced degree in economics or equivalent experience.

Participants are expected to make presentations on key policy issues of interest in their countries.

This seven-day course, presented by the IMF Institute, surveys the most important macroeconomic policy dilemmas confronting authorities in developing and emerging market economies, and the options available to policymakers in these countries, with special attention to how financial sector issues interact with macroeconomic management. The course covers the main analytical frameworks used by the IMF to analyze macroeconomic stabilization and growth, fiscal and external debt sustainability, inflation targeting and other frameworks for monetary policy, the choice of the exchange rate regime, and the opportunities and challenges international capital flows pose for emerging economies.

The course also addresses financial sector topics, such as the development, structure, and functions of financial markets; financial sector reform strategies; regulation of the financial system; assessment of financial fragility, financial crises and policies to deal with the aftermath of financial crises.

The course concludes with an overview of the origins and worldwide transmission of the economic and financial crisis of 2007-09 and the issues it raises for the evolving international monetary and financial-regulatory architecture.

Participants will be exposed to recent perspectives on the conduct of fiscal, monetary, exchange rate policies, and financial sector policies. They will also learn methods in the assessment of fiscal and external sector sustainability, including policies geared toward crisis prevention.

The following topics will be discussed:

• Macroeconomic Adjustment and Structural Reform
• Fiscal Policy
• Monetary Policy
• Exchange Rate Policy
• Financial Market Structure and Development
• Debt Sustainability
• Managing International Capital Flows
• Currency and Banking Crises
• Financial Sector and the Macroeconomy
• Macro-Financial Regulation

Date: September 6 - 14, 2010
Location: Slovenia, Ljubljana, Cankarjeva 18, CEF

Application Closing Date: August 2, 2010

Topic: General PFM

The course will be delivered in English.

No fee is charged for the officials working in the public sector.

The participants or their sponsoring agencies are responsible for travel insurance and covering the costs of travel, accommodation and per diem.

Lunch, coffee and refreshments during the courses will be provided by the CEF.