## JISPA review 2024 — Committee findings and recommendations

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### Overview and recent developments
- Committee appointed by the IMF’s Office for the Asia and the Pacific (OAP) in February 2024 to conduct the third periodic review of the Japan-IMF Scholarship Program for Asia (JISPA).
- Program history and scope:
  - Established in 1993; administered by OAP since 2000; fully funded by the Government of Japan.
  - Partnership Track: junior government officials from currently 21 Asian countries (including Central Asia and Pacific Island countries) at four Partnership Universities in Japan: National Graduate Institute for Policy Studies (GRIPS), Hitotsubashi University, International University of Japan (IUJ), and The University of Tokyo (UTokyo).
  - Open Track: supports PhD studies at reputable universities in Japan.
  - Continuing Education (CE) initiative launched in 2018: a two-week course managed with ICD/STI.
- Network monitoring and alumni activity:
  - Each Partnership University submits an updated roster of graduates to OAP annually; OAP organizes reunions and maintains an online information-sharing system.
- Select historical and distributional statistics:
  - Since inception, almost 1,000 officials have studied under JISPA.
  - Since 2011, 450 scholars benefited from the scholarship.
  - Since 2011, males accounted for 250 out of the 450 scholars.
  - GRIPS’ one- and two-year programs together account for almost half of all JISPA scholars since 2011.
  - Central banks account for close to two thirds of all scholars (distribution among beneficiary agencies steady since 2011).
  - Average age of incoming scholars: 30 years; ages range from 20 to 40 years.
  - Country concentration: Cambodia, Kyrgyz Republic, Mongolia, Myanmar (currently suspended), and Uzbekistan have had a larger share than population size would suggest; Indonesia, Malaysia and Thailand have tended to lag.

### Committee’s overall assessment and strategic positioning
- Overall assessment: overwhelmingly positive; JISPA is “money well spent” from the Government of Japan’s perspective.
- Key strengths:
  - High contributions to capacity building in target countries.
  - Strong development of a Japan-IMF–centered alumni network.
  - Positive effects on “brand Japan” and “brand IMF” in recipient countries.
  - Effective management by OAP; stakeholders highly appreciate OAP’s role.
- Strategic positioning and competitiveness:
  - JISPA is unique within the Fund but not well known inside the institution; its role in the IMF’s overall capacity development (CD) strategy is not well defined.
  - The Fund’s recent quinquennial CD strategy emphasizes integration of CD with surveillance, focus on climate change, gender and digital money, flexibility of CD funding, and reliance on field presence—considerations relevant for JISPA.
  - Increasing competition from other scholarship programs, especially in large EMs in ASEAN; other programs’ flexibility in country of study and Anglophone environments are competitive advantages.

### Orientation Program (OP): value, findings, and operational recommendations
- Description and focus:
  - All Partnership Track new students enroll in a two-month OP held at IUJ in Niigata prefecture.
  - OP coverage: academic English (four weeks), mathematics/computational skills (four weeks), introductory economics (one week), Japanese language (one week), and cross-cultural understanding; OAP presents on IMF role and Japan’s engagement with the Fund.
- Findings:
  - OP is highly valued, with especially positive feedback on mathematics and academic writing.
  - Networking opportunities are appreciated given IUJ’s relatively isolated location.
- Recommendations to retool OP:
  - Aim for a uniform program start to strengthen networking (current staggered start times undermine networking).
  - Encourage pre-departure or pre-academic year Japanese language study (including online options).
  - Increase coverage of practical topics where feasible (e.g., use of econometric techniques and packages) while respecting time constraints.
  - Shift some OP emphasis toward applied training and “soft skills” (presentation techniques, public speaking, negotiation strategies), possibly delivered during OP, Summer Workshops, weekends, or multi-day intensives.
  - Distribute workload evenly over the two-month OP period; consider increasing economics sessions while offsetting with less emphasis on English training where appropriate.

### Academic content, Partnership Track, and Open Track recommendations
- Core curricula and academic performance:
  - No general or specific shortcomings in core curricula or student performance at the four partnership universities.
  - The mix of one-year (GRIPS) and two-year options provides flexibility for sponsoring agencies.
  - JISPA scholars often exhibit higher English proficiency and academic performance compared to other students, though the difference has diminished over time.
  - Universities expressed readiness to adjust and strengthen curricula.
- Recommended curricular shifts and expansions:
  - Retain primary focus on macroeconomic and financial policy issues.
  - Shift balance toward practical applications rather than purely theoretical instruction.
  - Introduce model-based economic policy analysis and related computer skills.
  - Selectively expand coverage to include climate change, gender issues, financial sector development and stability, data science, cyber security, and digitalization (aligned with IMF’s 2024 CD strategy review).
  - Introduce “soft skills” training across program venues.
  - Leverage UTokyo’s multidisciplinary strengths and Hitotsubashi’s practical courses to support applied training.
- Open Track findings and recommendations:
  - Between 2011 and 2024, the Open Track supported 21 scholars versus 450 under the Partnership Track.
  - Open Track is primarily facilitating PhD studies in practice; PhD options are more relevant for relatively advanced EMs than for DCs.
  - Recommendations:
    - Continue the Open Track and consider closer integration of MA and PhD pathways so Partnership Program MA scholarships can transition into PhD programs at Partnership Universities.
    - Balance longer study leaves against sending agencies’ constraints; consider Partnership-program pathways that enable up to 5 years of supported study for MA-to-PhD progression.

### Post-scholarship impact, reintegration, and retention
- Findings on impact:
  - Surveys indicate JISPA participation boosts participants’ careers and benefits sponsoring agencies.
  - Agencies report returning scholars’ broadened understanding of economic issues and improved English ability as either “greatly” or “sufficiently” improved in all survey responses.
  - Scholars report that participation has boosted their careers (either “strongly agree” or “agree”).
- Reintegration practices vary widely across sending agencies: active promotion into suitable positions, retention of previous position rights, or no specific reintegration policy.
- Recommendations:
  - Ensure proper placement of returning scholars in posts where new skills are used.
  - Consider instituting a required “back-to-office meeting” with supervisors on return.
  - Encourage sponsoring agencies to adopt proactive retention and promotion policies to retain scholars in the public sector.

### Continuing Education (CE), Summer Workshop, and alumni activities
- Continuing Education (CE):
  - Initiated in 2018; since then seven deliveries with a total of 130 alumni participating.
  - CE format: two-week seminar managed with ICD and STI; well regarded for updating skills and strengthening identity and networks.
  - Recommendations:
    - Continue canvassing participants (and expand canvassing to sending agencies) for topic preferences.
    - Share course material ahead of delivery to enhance interactivity.
    - Maintain side activities (field trips to institutions such as BoJ).
    - Consider expanding CE from one to two rounds each year with topic differentiation (public finance vs monetary/financial sector).
    - Consider reducing the eligibility threshold for alumni participation from 8 years to, say, three years.
    - Consider merging CE seminars with JIMS to hold two CE events annually without major cost implications.
- Summer Workshop:
  - One-week course held in September (since 2018) focused on IMF operations and analytical frameworks; taught by OAP, CDOT, and external consultants.
  - Recommendations:
    - Update annually to reflect evolving IMF thinking.
    - Add more technical lectures on IMF frameworks where resources permit.
    - Increase structured networking, group projects, and use the Workshop for soft-skills training.

### Internships, interactions with Japanese institutions, and cultural immersion
- Internships and short-term placements:
  - No systematic internship program; paid internships are not allowed, unpaid internships require approvals.
  - Recommendation: Explore internships or alternative short-term activities (seminars, roundtables) at Bank of Japan, JMOF, OAP, Japanese banks, research institutes, ADBI, and Fund field offices, with regard to workload.
  - OAP has initiated BOJ/MOF seminars which could substitute for internships.
- Interaction with Japanese peers and society:
  - Need for increased interaction with Japanese nationals for best-practice learning and cultural immersion.
  - Recommendations for universities and OAP:
    - Build on IUJ practices (e.g., International Festival) and extend them.
    - Organize cultural workshops, joint research projects, peer-mentoring programs pairing JISPA scholars with Japanese students.
    - Facilitate scholar participation in student clubs, host-family arrangements, and undergraduate course engagement.
    - Involve senior JMOF officials in JISPA events to underscore Japan’s support.

### Marketing, targeting, selection processes, and ease of application
- Current marketing channels:
  - Dedicated JISPA website, annual e-brochure and flier, notices to IMF Executive Director Offices, outreach to area departments and field offices, ICD/STI engagement, resident representative support, periodic country visits, and an online briefing session.
  - JISPA is well known among central banks but less so among other public institutions.
- Proposed marketing enhancements:
  - Step up country visits by IMF/OAP staff; enlist embassies of Japan and partnership universities in promotion.
  - Use social media more actively; produce animation or SNS materials.
  - Systematically involve alumni in outreach.
  - Consider inviting target agencies’ HR representatives to Tokyo for briefings, subject to budget constraints.
- Targeting recommendations:
  - Current country eligibility appropriate for broad development impact; ultimate country focus decision rests with Japan as funder.
  - Target agencies: central banks (close to two -thirds of scholars since 2011), ministries of finance (about one-fifth), and other macroeconomic agencies and specialized agencies.
  - Age targeting: retain current practice favoring candidates below 40 informally; average incoming age is 30 and range is 20–40.
  - Gender balance: significant gap persists; recommendation to make JISPA more family-friendly (allow families, consider family allowance) and adopt informal gender quotas in select countries.
- Selection processes:
  - Current steps: online application managed by OAP; pre-screening; university evaluations; online math and English tests; Japanese authority and selection committee involvement; final interviews; universities submit ranked lists to OAP.
  - Assessment: effective and well-structured.
  - Ease-of-application improvements:
    - Revamp the website for clarity and earlier application information.
    - Indicate the stipend amount on the JISPA website.

### Management by OAP, monitoring framework, and review frequency
- OAP role and administrative arrangements:
  - OAP is the program administrator, responsible for budget planning, events, selection facilitation, payments, alumni support, and securing funding.
  - Administrative streamlining over time has generated staff-time savings and efficiency gains.
  - Potential operational changes considered: delegating some functions to Partnership Universities; simplifying stipend system (lump-sum or monthly stipend).
  - Committee recommends retaining OAP-managed model given OAP’s location in Japan and close contact with Partnership Universities and MOF.
- Systematic Monitoring Framework and reviews:
  - Periodic reviews introduced in 2009; two comprehensive and two mid-term reviews to date.
  - Past recommendations have high implementation rates (examples: CE introduction after 2016 review; selection streamlining).
  - Committee suggestion: increase frequency of comprehensive reviews from eight-yearly to every five years to keep the program responsive to rapidly changing needs; align partnership contract periods with review frequency.

### Benefits package, family-friendliness, and competitiveness
- Findings on stipend adequacy:
  - Concerns about adequacy of JISPA stipend given relatively high inflation in Japan and JPY exchange rate movements; many scholars face financial distress because:
    - Some applicants do not keep salaries/benefits from home employers while studying.
    - Many have financial obligations to family in home countries.
    - Fixed relocation costs to and from Japan are significant.
- Recommendation: commission a comprehensive assessment of the JISPA benefits package with urgency (administrative review outside current review’s scope). Suggested objectives and elements:
  - Protect the real value of benefits.
  - Review pre-arrival allowance, book allowance, computer/software allowance, and settling-in allowance.
  - Structure benefits to attract scholars with families, notably women, for example by introducing a family allowance while observing strict budgetary constraints.
  - Introduce a regular schedule of reviews of the benefits package (for example, annual) to ensure competitiveness over time.

### Key survey statistics from sending agencies and alumni (selected results retained verbatim)
- Sending agencies — leave for Master’s degree (responses):
  - Up to two years: 138 responses, 87 percent.
  - More than two years: 10 responses, 6 percent.
  - Will depend on the content of the course: 17 responses, 7 percent.
- Sending agencies — most important aspect (n responses):
  - Broad understanding of economic and policy issues: 106 responses, 67 percent.
  - Depth of analytical skills relevant to your institution: 42 responses, 27 percent.
- Sending agencies — extent of English improvement reported:
  - Greatly improved: 74 responses, 47 percent.
  - Sufficiently improved: 77 responses, 53 percent.
- Alumni — career progression due to JISPA studies (n=99):
  - Strongly agree: 56 responses, 57 percent.
  - Agree: 35 responses, 35 percent.
  - Neither agree nor disagree: 4 responses, 4 percent.
  - Disagree: 0 responses, 0 percent.
  - Strongly disagree: 4 responses, 4 percent.
- Alumni — balance between theory and practice (n=99):
  - Just right mix between theory and practice: 84 responses, 85 percent.
  - Too much theory: 13 responses, 13 percent.
  - Too much practice: 2 responses, 2 percent.
- Alumni — attractiveness of masters scholarship with option to continue onto a PhD (n=99):
  - Strongly agree: 49 responses, 49 percent.
  - Agree: 35 responses, 35 percent.
  - Neither agree nor disagree: 12 responses, 12 percent.
  - Disagree: 2 responses, 2 percent.
  - Strongly disagree: 1 response, 1 percent.
- Alumni — monthly stipend sufficiency to focus on studies (n=99):
  - Strongly agree: 11 responses, 11 percent.
  - Agree: 48 responses, 48 percent.
  - Neither agree nor disagree: 21 responses, 21 percent.
  - Disagree: 16 responses, 16 percent.
  - Strongly disagree: 3 responses, 3 percent.
- Alumni — did alumni bring family to stay in Japan (n=50):
  - Yes: 33 responses, 66 percent.
  - No: 17 responses, 34 percent.

### Priority recommendations (condensed)
- Retool the Orientation Program at the margin to improve networking, practical training, and soft skills delivery.
- Commission an urgent comprehensive assessment of the benefits package to protect real value and improve family-friendliness (including consideration of a family allowance).
- Retain core MA focus while creating clearer MA–PhD pathways (supplementing MA in Public Policy with an interlinked PhD option).
- Strengthen marketing and Fund-wide visibility (annual reward visits to Fund HQ, presentations at IMF Annual/Spring Meetings, regional research conferences).
- Increase IMF field-office engagement in marketing, course delivery, and alumni support.
- Expand Continuing Education delivery and consider reducing alumni eligibility thresholds.
- Keep OAP as program administrator while delegating where efficient and increase review frequency from eight years to five years.

*Published in the JISPA review (Tokyo/Vienna, June 28, 2024).*

### 2.   The Orientation Program, a highly valued and unique feature of JISPA, could be retooled

### 2.   The Orientation Program, a highly valued and unique feature of JISPA, could be retooled

### Overview of JISPA features and recent developments
- The IMF’s regional Office for Asia and the Pacific (OAP) appointed a committee in February 2024 to conduct the third periodic review of the Japan-IMF Scholarship Program for Asia (JISPA).
- JISPA was established in 1993 and transferred to OAP in 2000. The Government of Japan fully funds the program.
- JISPA offers “Partnership Track” scholarships to junior government officials from eligible Asia-Pacific countries (currently 21 Asian countries, including in Central Asia, plus Pacific Island countries) at four Partnership Universities in Japan: National Graduate Institute for Policy Studies (GRIPS), Hitotsubashi University, International University of Japan, and The University of Tokyo.
- JISPA supports PhD studies through an “Open Track.”
- Continuing Education initiative launched by OAP in 2018: a two-week course held annually in Tokyo with support of ICD/Singapore Training Institute (STI).
- Network monitoring and alumni activities:
  - Each Partnership University submits an updated list of JISPA graduates to OAP annually.
  - OAP organizes reunions and maintains an online information sharing system.
- Select historical and distributional statistics:
  - Since inception, almost 1,000 officials have studied under JISPA.
  - Since 2011, 450 scholars benefited from the scholarship.
  - Since 2011, males accounted for 250 out of the 450 scholars.
  - GRIPS’ one- and two-year programs together account for almost half of all JISPA scholars since 2011.
  - Central banks account for close to two thirds of all scholars (distribution among beneficiary agencies steady since 2011).
  - Average age of incoming scholars: 30 years; ages range from 20 to 40 years.
  - Country concentration: Cambodia, Kyrgyz Republic, Mongolia, Myanmar (currently suspended), and Uzbekistan have had a larger share than population size would suggest; Indonesia, Malaysia and Thailand have tended to lag.

### Committee’s overall assessment
- The committee’s overall assessment of JISPA in its current form is overwhelmingly positive.
- Key strengths identified:
  - High contributions to capacity building in target countries.
  - Strong development of a Japan-IMF–centered alumni network.
  - Positive effects on “brand Japan” and “brand IMF” in recipient countries.
  - Effective management by OAP.
- The committee concludes JISPA should be considered “money well spent” from the perspective of the Government of Japan.

### Strategic positioning and competitiveness
- JISPA is unique within the Fund and not well known inside the institution; its role in the IMF’s overall capacity development (CD) strategy is not well defined.
- The most recent quinquennial review of the Fund’s overall CD strategy (completed the same year) emphasizes integration of CD with Fund surveillance, focus on climate change, gender and digital money, flexibility of CD funding strategies, and reliance on Fund field presence—considerations relevant to JISPA.
- JISPA faces increasing competition from other scholarship programs, particularly in large EMs in ASEAN; flexibility in country of study and English-language environments are competitive advantages of other programs.
- Country-of-study attractiveness: Japan is attractive for culture and safety, but other scholarships’ flexibility and Anglophone options are selling points.

### Recommendations to increase visibility and integration within the Fund
- The committee proposes that OAP considers setting up an annual reward system to send a limited number (say, 4-5) successful scholars to IMF headquarters for a training program and to meet with Fund staff (including APD, MCD, ICD and OMD). Continuing the practice of Fund management meeting with JISPA scholars during their visits to Japan is also recommended.
- OAP, in collaboration with ICD, could consider making presentations on JISPA at the IMF Annual and Spring Meetings as part of ICD outreach on CD.
- OAP could consider arranging a regional research conference with JISPA scholars and alumni focused on common economic challenges among recipient countries. This could be a one-off or a regular (say, annual) event and include academics from Japan and elsewhere.
- Fund field offices could play a more active role in marketing JISPA in their countries and regions, and contribute to courses and seminars for JISPA scholars and alumni (lectures on Article IV consultations, financial programming, CD-surveillance links, and other IMF activities), thereby strengthening understanding of the IMF among alumni and reducing lingering “IMF stigma.”

### Recommendations on benefits, family-friendliness, and competitiveness
- The committee found concerns about the adequacy of the JISPA stipend given relatively high inflation in Japan and recent movements in the JPY exchange rate; many scholars face financial distress because:
  - Some applicants do not keep salaries or benefits from home employers while studying.
  - Many have financial obligations towards family members in their home countries.
  - Fixed relocation costs to and from Japan are significant.
- The committee recommends a comprehensive assessment of the package of benefits offered under JISPA with some urgency (while noting such assessment falls outside the scope of the current review). Objectives and elements suggested:
  - Protect the real value of benefits.
  - Review pre-arrival allowance, book allowance, computer/software allowance, and settling-in allowance.
  - Structure benefits to attract scholars with families, notably women, for example by introducing a family allowance, while observing strict budgetary constraints.
  - Introduce a regular schedule of reviews of the benefits package, for example on an annual basis, to ensure the value and competitiveness of JISPA are protected over time.

### Other programmatic adjustments and initiatives suggested by the committee
- Re-tool the Orientation Program at the margin and expand the Continuing Education program.
- Consider supplementing the MA in Public Policy with an interlinked PhD option.
- Strengthen marketing of JISPA to prospective scholars and target agencies.
- Consider widening the range of JISPA beneficiaries.
- Broaden IMF involvement in JISPA while keeping OAP in charge.
- Fund field offices in Asia could play a more active role in supporting JISPA.
- Enhance the ease of application.
- Enrich JISPA scholars’ interactions with Japanese nationals and institutions.
- Increase the frequency of comprehensive reviews of JISPA under the Systematic Monitoring Framework.

*Committee appointed by the IMF’s Office for Asia and the Pacific (OAP), February 2024.*

### 2. The JISPA Partnership Track and Open Track: Academic Content and Post-

### 2. The JISPA Partnership Track and Open Track: Academic Content and Post-Scholarship Impact

### Core curricula, orientation, and suggested curricular expansions
- Finding: The committee did not uncover any general or specific shortcomings in the core curricula of any of the four partnership universities, nor in student performance.
- Finding: The mix of courses and the differentiation between universities (including the one-year option at GRIPS, the largest single JISPA program) provide flexibility while keeping overall JISPA operations manageable.
- Finding: Offering one-year and two-year options in parallel allows sending agencies to balance the period of absence they permit staff against the thoroughness of training.
- Recommendation: Retain primary focus on macroeconomic and financial policy issues while shifting the balance toward practical applications rather than purely theoretical instruction.
- Specific curricular options suggested:
  - Introduce training in model-based economic policy analysis and related computer skills.
  - Selectively expand curriculum coverage to include climate change, gender issues, financial sector development and stability, data science, cyber security, and digitalization (in line with the IMF’s 2024 review of its capacity development strategy).
- Implementation considerations:
  - Balance any additions against already heavy workloads relating to core curricula.
  - Leverage the University of Tokyo’s faculty practical experience and Hitotsubashi University’s practically oriented intensive courses to support a shift toward applied training.
  - Introduce “soft skills” training (presentation techniques, public speaking, negotiation strategies) during Orientation Program, Summer Workshops, weekends, or multi-day intensives.

### The Open Track: scope, demand, and integration with Partnership Track
- Description: The JISPA Open Track supports graduate studies in macroeconomics and related fields at leading universities in Japan, for up to three years of study.
- Finding: While Open Track studies can be at MA or PhD level, in practice the program has primarily facilitated PhD studies.
- Data points:
  - Between 2011 and 2024, the Open Track supported 21 scholars (notably fewer than the 450 scholars studying under the Partnership Track over the same period).
  - For JISPA scholars who obtain an MA under one of the 2-year programs at Partnership Universities, JISPA would in effect provide support for up to 5 years.
- Findings on demand:
  - PhD option is more relevant for relatively advanced EMs than for DCs, which tend to see MA-level skills as more directly beneficial.
  - Expanding the PhD option could boost interest among larger EMs, including in ASEAN, where interest has tapered partly due to competition from other scholarships.
- Recommendations:
  - Continue the Open Track system and consider closer integration of MA and PhD level studies under JISPA while maintaining the MA programs as the backbone.
  - Consider Partnership Program or other MA scholarships that seamlessly transition into PhD programs at Partnership Universities to enable progression from master’s to doctoral research.
- Implementation considerations:
  - Address concerns about extended study leaves and impact on sending agencies (some agencies prefer studies of 1-2 years’ length, though the survey suggested flexibility).
  - Balance long-term benefits for scholars and organizations against practical considerations of sponsoring agencies.

### Academic performance of scholars and university support systems
- Finding: JISPA scholars have often exhibited higher levels of English proficiency and academic performance compared to other students, although this difference has diminished over time.
- Recommendation: Maintain a high standard of the applicant pool to ensure selected scholars meet necessary standards for successful degree completion.
- University academic and welfare support examples:
  - The University of Tokyo’s International Student Desk assists with daily life issues, visa paperwork, housing and scholarship applications.
  - GRIPS Student Office helps with accommodation, immigration procedures, cultural exchanges, and offers a support system for mental health concerns.
- Finding: All current partnership universities expressed readiness to adjust and strengthen JISPA curricula.

### Post-scholarship impact, reintegration, and retention
- Finding: Surveys of sending agencies and past scholars show JISPA participation has boosted the careers of participants and benefited sponsoring agencies.
- Findings on skills and outcomes:
  - Agencies value returning scholars’ broadened understanding of economic issues and ability to conduct work in English (deemed either “greatly” or “sufficiently” improved in all survey responses).
  - Scholars either “strongly agree” or “agree” that participation in JISPA has boosted their careers.
- Finding: Reintegration practices vary considerably across sending agencies and countries:
  - Active promotion into suitable positions upon return;
  - Maintaining the right to a previous position while on scholarship leave;
  - No specific reintegration policy.
- Recommendations to strengthen post-scholarship impact:
  - Ensure proper placement of returning scholars in positions where they can use new skills.
  - Consider instituting a required “back-to-office meeting” with supervisors when scholars return.
  - Encourage sponsoring agencies to adopt proactive retention and promotion policies to keep returning scholars in the public sector and build policy capacity.

### Orientation Program (OP)
- Description: All new students under the Partnership Track enroll in a two-month Orientation Program held at the International University of Japan in Niigata prefecture.
- OP focus areas: English and Japanese language, mathematics, computational skills, introductory economics, cross-cultural understanding, with emphasis on English and mathematics; includes lectures on the role and functions of the IMF and Japan’s engagement with the Fund.
- Finding: OP is highly valued, with positive feedback especially on mathematics and academic writing; networking opportunities are appreciated given IUJ’s relatively isolated location.
- Recommendations and operational changes:
  - Aim for a uniform program start to strengthen networking (current staggered start times due to different English programs undermine networking).
  - Encourage pre-departure or pre-academic year Japanese language study (including online options) to increase meaningful language learning.
  - Increase coverage of practical topics where feasible (e.g., use of econometric techniques and packages within time constraints).

### Summer Workshop
- Description: One-week course held in September, focused on IMF operations, including Article IV consultations and related analytical frameworks; initiated in 2018; taught by OAP staff, CDOT staff, and external consultants.
- Finding: Fills a curricular gap and helps scholars become effective counterparts for IMF country teams on return.
- Recommendations:
  - Update the Workshop annually to reflect evolving IMF thinking.
  - Add more technical lectures on IMF frameworks and analytical tools (examples: debt sustainability analysis, external balance assessments, financial sector vulnerability analysis, Institutional View on Capital Flows) where OAP resources permit.
  - Increase structured networking sessions, group projects, or panel discussions to foster scholar–staff and inter-university scholar connections.
  - Use the Workshop as a venue for “soft skills” training (presentation skills, public speaking, communication).

### Internships and short-term placements
- Finding: Several calls for arranging internships for JISPA scholars to learn from Japanese counterparts, understand the Japanese economy, and expand networks.
- Current status: No systematic effort to develop internship options as an integral part of JISPA; internships are not discouraged but paid internships are not allowed (unpaid internships require approvals).
- Recommendation: OAP should explore options for internships or alternative short-term activities (seminars) at institutions such as the Bank of Japan, JMOF, OAP itself, Japanese banks, research institutes, ADBI, and Fund field offices, with due regard to workload implications.
- Note: OAP has initiated BOJ/MOF seminars for JISPA scholars, which could serve as substitutes for internships.

### Continuing Education (CE) program for alumni
- Description: CE initiated in 2018; since then seven deliveries with a total of 130 JISPA alumni participating.
- Format: Two-week seminar managed with IMF’s Institute for Capacity Development (ICD), with active role for ICD’s Singapore Training Institute (STI).
- Findings: CE is well regarded; updates economics skills, strengthens JISPA identity, and renews/expands alumni networks.
- Recommendations to enhance CE:
  - Continue canvassing participants (and expand canvassing to sending agencies) for topic preferences.
  - Share course material with participants ahead of delivery to enhance learning and interactivity.
  - Maintain “side activities” (field trips to institutions such as BoJ) to leverage Tokyo location.
  - Consider expanding from one to two rounds each year, selecting topics carefully; possible structure:
    - One seminar on public finance-related topics (of interest to finance ministries and related agencies).
    - One seminar on monetary policy/financial sector topics (of interest to central banks and supervisors/regulators).
  - Consider reducing the eligibility threshold for alumni (from the current 8 years after graduation to, say, three years) to expand demand.
  - Consider merging CE seminars with the Japan-IMF Macroeconomic Seminar for Asia (JIMS) to hold two CE events annually without major cost implications.

### Interaction with Japanese peers and society
- Finding: Scholars and sending agencies see a need for increased interaction with Japanese nationals for best-practice learning and cultural immersion; opportunities within graduate programs are limited.
- Recommendations for OAP and universities:
  - Build on IUJ practices (e.g., International Festival) and explore adoption at other universities.
  - Organize activities designed to deepen engagement with Japanese students (cultural workshops, joint research projects).
  - Facilitate events that make it easier for scholars to participate and connect with Japanese peers; many students at GRIPS and the University of Tokyo reside in international dormitories in Odaiba and have some interaction with Japanese nationals.
  - Implement peer-mentoring programs pairing JISPA scholars with Japanese students.
  - Encourage participation in student clubs and organizations to foster cultural immersion.
  - Involve senior JMOF officials in JISPA-related events to underscore Japan’s support for the program.

*Source: JISPA review 2024 — Chapter 2: The JISPA Partnership Track and Open Track: Academic Content and Post-Scholarship Impact*

### 4. Selecting JISPA Scholars

### Selecting JISPA Scholars

### Marketing of JISPA
- OAP currently uses a range of channels including a dedicated JISPA website, an annual e-brochure and flier, application notices sent each year to IMF Executive Director Offices representing target countries, IMF area departments (including their field offices), and ICD, outreach to specific target agencies with the help of resident representatives, periodic country visits by OAP staff to promote JISPA and bolster the alumni network, and an online JISPA briefing session.
- Recognition:
  - JISPA is generally well known among central banks but appears more limited among other public sector institutions.
  - Example: in meetings with Mongolian authorities, the central bank was familiar with JISPA, whereas the Ministry of Finance and the Ministry of Economic Development were not.
  - Scholars reported varied experiences on how they first learned about JISPA, indicating chance often plays a significant role in generating awareness.

- Proposed actions to strengthen marketing:
  - Step up country visits by IMF/OAP staff, akin to those conducted by other scholarship programs; agencies in target countries expressed willingness to promote JISPA and offered to organize and host seminars and information sessions.
  - Further develop and disseminate JISPA promotion materials (such as novelty goods and posters).
  - Ask local IMF offices (including RCDCs and STI) to play a more active role, drawing on their local knowledge and contacts; consider explicitly including JISPA promotion in the TORs of future RRs and RCDCs in the target region.
  - Enlist embassies of Japan to help promote JISPA and hold alumni events in target countries, especially where there is a relatively large cadre of JISPA alumni; jointly leverage the IMF and Japan brands.
  - Use social media more actively; consider producing an animation video like other scholarship programs and using SNS.
  - Arrange for more systematic reliance on JISPA alumni; encourage participation by JISPA scholars in outreach events with IMF offices and others.
  - Explore a more active role for Partnership Universities in marketing JISPA in target countries and consider including marketing obligations for prospective universities in the upcoming tender.
  - Consider inviting select target country agencies’ HR department representatives to Tokyo for briefings showcasing JISPA and introducing Partnership Universities, subject to budget constraints.

### Targeting of JISPA
- Country focus and eligibility:
  - The current set of target countries is considered appropriate for achieving a broad development impact in the region, covering a diverse set of countries given available budgetary resources.
  - There appears to be broader interest among countries in becoming eligible for JISPA.
  - Ultimately, the country focus is a decision for Japan as the funder of JISPA.

- Target agencies:
  - Central banks are by far the largest beneficiaries, accounting for close to two -thirds of all scholars since 2011.
  - Ministries of finance (and similar) account for about one-fifth of all scholars.
  - Other agencies that could benefit include ministries with purviews relating to macroeconomics and specialized agencies such as financial supervisors, regulatory agencies, and statistical agencies.
  - Recommendation: make case-by-case assessments based on local knowledge, relying inter alia on Fund field office expertise.

- Age targeting:
  - No change recommended to current practice (in effect, informally favoring candidates below the age of 40).
  - Average age of incoming scholars stands at 30 years and ages have ranged from 20 to 40 since 2012.
  - Agencies generally favor sending younger scholars but noted exact age should reflect staff demographics and promotion policy of each country; argue against setting a strict age range.
  - Recommendation: assess each applicant individually, focusing on future career prospects and potential rather than age.

- Gender balance and family support:
  - A significant gender gap persists and there has been no discernible trend improvement, although in some academic years there have been more females than males among incoming scholars.
  - Proposal: make JISPA more "family-friendly" to help ensure balanced female representation by allowing scholars to bring their families to Japan, providing emotional support and reducing concerns.
  - For scholars with children, the option to receive Japanese education could foster a future generation with a favorable view of Japan.
  - Recommendation: consider a family benefit as part of a broader review of the benefits JISPA scholars receive (see section III.1. above).
  - Recommendation: adopt informal gender quotas for select countries where underrepresentation is most pronounced to improve gender balance.

### The selection processes
- Current process elements:
  - Online application system managed by OAP.
  - Thorough pre-screening.
  - Detailed evaluations by partnership universities.
  - Objective assessments through online math and English tests.
  - Involvement of Japanese authorities and a selection committee, along with program managers, adding multiple layers of scrutiny and expertise.
  - Final interviews for personal evaluation.
  - Universities submit a ranked list of candidates to OAP for the final decision.

- Assessment:
  - The committee considers the selection process effective and well-structured, helping ensure that the most qualified candidates are chosen and maintaining high standards and reputation of the JISPA program.

- Areas for improvement:
  - While ease of application boosts JISPA’s competitiveness, some interlocutors noted complexity and lack of clarity of the JISPA website.
  - Recommendation: revamp the website to improve clarity, provide information about the application process earlier, and indicate the amount of the stipend on the JISPA website.

*Source: JISPA review 2024, "4. Selecting JISPA Scholars", Office of Asia and Pacific (OAP).*

### 5. The Management of JISPA: Role of OAP and Program Reviews

### 5. The Management of JISPA: Role of OAP and Program Reviews

### Role of OAP
- The Regional Office for Asia and the Pacific of the International Monetary Fund (OAP) is the program administrator responsible for the overall management of JISPA, including securing sufficient funding.
- OAP has administered JISPA since 2000.
- Upon inception in 1993, JISPA was initially administered by the IMF Institute at IMF headquarters; OAP was established in 1997 and subsequently took over administration.
- OAP’s management activities include:
  - budget planning and implementation;
  - organization of events for scholars (welcome and graduation receptions with joint thesis presentations, the Orientation Program for incoming students, and the Summer Program for second-year students);
  - facilitation of the scholar selection process and planning the schedule and meetings with Partnership Universities and applicants;
  - providing opportunities for scholars to participate in IMF-organized seminars and workshops.
- OAP has expanded scholar support over the years based in part on recommendations from JISPA reviews.
- Administrative pressures from additional activities led OAP to streamline JISPA-related operations, yielding significant savings of staff time and increased efficiency.
- Planned administrative streamlining areas include:
  - travel arrangements for scholars;
  - management of the alumni network;
  - organization of events for current scholars and alumni;
  - application processes;
  - payment of university fees;
  - handling of one-off events relating to scholars.
- Potential operational changes under consideration:
  - delegation of some functions to Partnership Universities;
  - simplification of the stipend system by converting benefits into a lump-sum payment or monthly stipend.
- OAP acts as coordinator to consider balance among partner schools and geographical balance among newly accepted scholars.
- Stakeholders (scholars and Partnership Universities) highly appreciate OAP’s role; the committee found no need to change OAP’s role and recommended retaining the OAP-managed model, noting the benefits of OAP’s location in Japan and close in-person contact with Partnership Universities and the Government of Japan as the sole JISPA donor.

### Program reviews under the Systematic Monitoring Framework
- OAP introduced periodic reviews under the Systematic Monitoring Framework in 2009 to assess effectiveness and orient JISPA’s future direction, including input for eight-yearly tendering for Partnership Universities.
- Types of reviews conducted:
  - comprehensive reviews (evaluating program structure, performance of each university, selection processes, curricula, academic support, and OAP’s involvement);
  - mid-term reviews (conducted mid-way through the eight-year contract with Partnership Universities, focused on universities’ fulfillment of obligations and OAP’s activities).
- To date, JISPA has been subject to two comprehensive and two mid-term reviews.
- Review outcomes:
  - recommendations from reviews have been well considered and implemented by OAP and Partnership Universities;
  - example: introduction of the JISPA Continuing Education program following the 2016 comprehensive review;
  - example: streamlining of scholar selection processes, including virtual meetings, with positive reception by Partnership Universities;
  - universities have continued to improve curricula by integrating emerging trends and strengthening areas of study/research.
- The overall implementation rate of recommendations from past JISPA reviews is high, indicating the Systematic Monitoring Framework has been helpful and should be continued.
- The committee suggests increasing the frequency of comprehensive reviews from eight-yearly to every five years to keep the program updated and well-suited to the needs of higher education for policymakers in a rapidly changing world economy; in considering more frequent reviews, potential pros and cons should be carefully assessed and review structures well planned.
- Note: more frequent comprehensive reviews need not automatically trigger changes in Partnership Universities; they may focus on curriculum adjustments and emerging needs. The contract periods for Partnership Universities should be aligned with any change in review frequency.

### Conclusions and Recommendations
- The committee concluded that the structure and administrative arrangements of JISPA are sound and should be broadly maintained. JISPA is widely considered to be highly effective at building human capital in target countries and fostering a regional alumni network.
- The combination of four Partnership Universities offering differentiated MAs in public policy, the choice between one- and two-year programs, and the option of studying for a PhD provide flexibility to meet countries’ needs.
- OAP’s management receives high marks from interlocutors.

Key recommendations to enhance JISPA’s relevance and effectiveness:
1) Curricula and supplementary activities
   - Maintain main weight on core macroeconomic issues, including public finance and monetary/financial policy issues, ensuring quality in core areas.
   - Shift further toward practical applications of theory.
   - Introduce courses developing “soft skills” (presentations, public speaking, negotiation techniques) and “future skills.”
   - Step up lectures on current issues by IMF experts, including Resident Representatives (RRs), STI and other IMF field offices.
   - Partnership Universities can expand into “future skills” areas such as climate change, gender, financial digitalization, and inequality; most already offer related electives.
   - OAP could facilitate workshops and study sessions at relevant institutions in Japan, notably JMOF and BoJ.
   - Any curriculum additions must consider the already considerable workload facing JISPA scholars.

2) Orientation Program (OP) and Continuing Education (CE)
   - Retool OP marginally; ensure all scholars start at the same time and distribute workload evenly over two months.
   - Consider expanding economics sessions and offsetting with less emphasis on English language training.
   - Expand CE delivery for alumni from one delivery per year to two, depending on demand, with STI support and possibly merging with JIMS.
   - Provide pre-arrival study material for OP and CE.

3) PhD pathway
   - Supplement the MA in Public Policy with an interlinked PhD option to attract interest from larger EMs in ASEAN and enhance JISPA’s status as a “high-quality” scholarship program.
   - Retain main weight of MA-level studies and keep mix of one-year and two-year MA programs for flexibility.

4) Marketing
   - Strengthen marketing to prospective scholars and target agencies, noting high visibility among central banks but lower visibility among other government institutions.
   - More active marketing to enrich and diversify scholar cohorts and alumni network.

5) Widening beneficiaries
   - No urgent need to expand beneficiary countries; expansion may be considered when called for on development grounds and with Japanese government financial support.
   - OAP could consider flexible expansion of covered institutions, taking into account expanded curricula that include climate change, gender, and inequality.

6) Broader IMF involvement while retaining OAP management
   - Utilize existing IMF seminars or online courses to offer more courses/seminars instead of creating tailor-made courses.
   - Increase IMF staff involvement in arranging courses, seminars, and JISPA activities.
   - Consider an annual reward system to send select scholars to Fund HQ for training and meetings with APD, MCD, ICD and OMD staff.
   - OAP (with ICD) could make presentations on JISPA at the IMF Annual and/or Spring Meetings.
   - Consider a research conference involving JISPA scholars and alumni, either stand-alone or regular (e.g., annual).

7) Role of Fund field offices in Asia
   - Encourage IMF resident representatives and RCDCs (including STI) to use local knowledge and contacts to market JISPA, deliver lectures to scholars, and bolster the alumni network.
   - RRs could arrange gatherings and regular briefings for JISPA alumnae in their countries.
   - Economists in field offices could be invited to lecture at Partnership Universities in Japan; STI is well placed to do so.
   - Revise terms of reference for RRs and RCDCs in APD and MCD to explicitly call for engagement in support of JISPA, in collaboration with OAP to ensure accountability.

8) Benefits package review
   - Commission a review of the overall benefits package to assess competitiveness with other scholarship programs.
   - Consider making the benefits package more family-friendly within budget constraints, potentially introducing a family allowance.
   - Enhancing family-friendly benefits could increase the proportion of women applicants and deepen cultural and professional ties with Japan.

9) Ease of application
   - Preserve recently reformed application and selection practices while improving further.
   - Extend the application period to give applicants more time to prepare materials.
   - Review the JISPA website to make it more user-friendly.

10) Enrich interactions with Japanese nationals and institutions
   - Expand opportunities for scholar interaction with Japanese students and institutions across all Partnership Universities to strengthen cultural and professional ties with Japan.

11) Review frequency
   - Change comprehensive review frequency from eight-yearly to every five years to better respond to fast-paced changes facing Asian policymakers.
   - Conduct reviews primarily to update and adjust curricula and operational features; reviews need not automatically lead to changes in Partnership Universities, though that option should remain and contract periods should be aligned with review frequency.

Tokyo/Vienna, June 28, 2024
Odd Per Brekk
Shoko Ikarashi
Hiroaki Miyamoto

*Published in the JISPA review (Tokyo/Vienna, June 28, 2024).*

### APPENDIX I

### APPENDIX I

### Program evolution and objectives
- JISPA aims to contribute to institutional capacity building in economic policymaking to promote sustainable growth in emerging market and developing economies in Asia and the Pacific by training junior government officials of key economic agencies, such as central banks or ministries of finance, economy, or planning.
- JISPA has gone through four phases:
  - Phase I (AY 1993–2000): Institutional Capacity Building of Transition Economies in Asia.
  - Phase II (AY 2001–08): Expansion of the Program.
  - Phase III (AY 2009–2010): Institutional Capacity Building in Asia and the Pacific.
  - Phase IV (AY 2011–present): Newly Selected Partnership Universities.
- Target countries (current eligible list noted in the source): Bangladesh, Bhutan, Cambodia, India, Indonesia, Kazakhstan, Kyrgyz Republic, Lao P.D.R., Malaysia, Maldives, Mongolia, Nepal, Pacific island countries, Papua New Guinea, Philippines, Sri Lanka, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan, and Vietnam.
- Provision of scholarships to Myanmar has been suspended since AY2023- 24 intake.
- Academic year for JISPA refers to October 1–September 30.

### Program structure and administration
- JISPA is financed under the Japan Administered Accounts for Technical Assistance and Training, funded by the Japanese government, and administered by the IMF Office of Asia and the Pacific (OAP) in Tokyo.
- The JISPA has two tracks:
  - Partnership track:
    - Four selected partnership universities.
    - Number of available scholarships annually is 60 under the partnership track, with about 35 new ones awarded every year.
    - Partnership universities listed:
      1. National Graduate Institute for Policy Studies (GRIPS)
         - Macroeconomic Policy Program (Master of Public Policy--one year program)
         - Macroeconomic Policy Program (Master of Arts in Public Economics--two year program)
      2. Hitotsubashi University (HIT)
         - Asian Public Policy Program (Master of Public Policy (Public Economics)--two year program)
      3. International University of Japan (IUJ)
         - Macroeconomic Policy Program (Master of Arts in Economics--two year program)
      4. The University of Tokyo (UTokyo)
         - International Program/Master of Public Policy (Master of Public Policy--two year program)
  - Open track:
    - Available for any reputable university in Japan.
    - Open-track scholarships are provided for highly motivated officials who wish to study at non-partnership programs at a university in Japan.
    - Priority is given to Ph.D. candidates.
    - Initially, 10 open track scholarships were available; given the small number of applications, scholarships were then limited to a small number of scholars.
- Administrative elements:
  - Orientation Program (OP) hosted under partnership track.
  - Administrative arrangements and OAP involvement include recruitment, monitoring, and periodic tendering of partnership universities.

### Curriculum and academic support
- The partnership track scholarship program offers both a one year and a two year Master’s Degrees in Economics and Public Policy.
- All partnership programs are oriented towards macroeconomics with a focus on fiscal policy, central banking and monetary policy, and/or financial market expertise.
- The Orientation Program (OP) provides:
  - Academic English (four weeks)
  - Mathematics/introductory econometrics (four weeks)
  - Introductory economics (one week)
  - Japanese (one week)
  - Special lectures on cross-cultural understanding
- Skill-Refreshing Courses (SRC):
  - Introduced in AY 2005-06 and subsequently evolved into the Orientation Program (OP).
  - Objective: help newly accepted scholars acquire adequate English and mathematics skills to prepare for the master’s program.
  - Criteria: Incoming scholars with a TOEFL score below 600 (CBT 250 and iBT 100) or IELTS score below 7.0 were requested to participate in the English component of the SRC. On math aptitude, scholars who showed deficiencies on the test score at the time of selection were requested to participate in the SRC (the precise thresholds were determined by the partnership universities).
  - IUJ was selected to offer the SRC following the 2005 tendering.

### Purpose and scope of the overall review
- Purpose:
  - OAP introduced a systematic framework for a periodical review and subsequent tendering of partnership universities.
  - The overall review aims to assess the effectiveness of JISPA and to orient the future direction of JISPA; necessary revisions will be made based on recommendations, with the next tender to select Partnership Universities starting from an intake in the 2026-27 academic year in accordance with the procurement guidelines.
  - The duration of the current contract with the universities is for eight successive annual intakes with the first and final intakes in AY 2018-19 and 2025-26, respectively. A mid-term review was conducted in 2022 to assess progress and fulfillment of obligations by the universities.
- Scope: assess whether JISPA meets its objective of building capacity through training of government officials by evaluating:
  - (1) targeting of countries with greatest needs for capacity building while ensuring applicant quality;
  - (2) appropriateness of the selection process;
  - (3) whether the course program and level of academic teaching are helpful for recipients’ careers and target agencies’ needs;
  - (4) academic achievement of recipients;
  - (5) career progress of students and their contribution to their organization after return.
- Components to be assessed:
  - A. Structure and Components of the JISPA, including Objective and positioning in IMF mandate, Structure of the Program, Monitoring Framework, Partnership Track composition, Target Agencies, Selection Process, Curriculum, JISPA Scholars’ Academic Performance, Academic Support, Administrative Support, Administrative Arrangements, Orientation Program, Open Track, OAP Activities and Involvement, Budget Implications, Administrative Costs.
  - B. Post-Scholarship Impact: Performance of JISPA alumni, Follow-up activities for alumni.
  - C. Needs of Recipient Countries.

### Overall review committee and inputs
- Overall Review Committee composition:
  - An official from the Japanese Ministry of Finance;
  - An IMF affiliated representative;
  - A representative from academia in Japan;
  - A representative from academia overseas (TBD).
- Input and methods:
  - Assessment through questionnaires of past & current scholarship recipients and sponsoring agencies.
  - Review of relevant materials, including universities’ curricula.
  - Interviews with target governmental agencies and past recipients.
  - Interviews with professors and current scholarship recipients at all partnership universities, as well as open-track scholars.
  - Interviews with professors on comparable master’s programs both in Japan and overseas and officials of other comparable scholarship programs.
  - Interviews with OAP staff and officials at the Japanese Ministry of Finance.

### Final output and timetable
- Final output:
  - A report in English summarizing findings and recommendations will be submitted to OAP with a copy to the Ministry of Finance.
  - The report will assess the overall effectiveness of JISPA and the fulfillment of the universities’ obligations and orient the future direction of the program with suggestions for improvements.
  - The final report will be submitted to OAP by June 2024.
- Timetable Year 2024 (selected entries):
  - February-March: Review committee preliminary meeting (online) to confirm review process and output and finalize questionnaire.
  - March-April: OAP to send questionnaire, and analyze results.
  - April 8/9-12: Review committee convene in Tokyo (four (or five) days) to conduct interviews with professors and current scholars at the partnership universities, MOF officials, OAP staff members, comparable master’s and scholarship programs in Japan (if possible), and alumni participating in JISPA-CE (if possible).
  - April-May: Undertake interviews (online or in-person) with senior officials and scholarship recipients of target agencies; professors of comparable programs in Japan and overseas; officers in charge of other scholarship programs.
  - May 30: Submit preliminary findings and a draft template of the final report to OAP.
  - Early June: Convene for the final review committee meeting for 1-2 day(s) (online or in-person).
  - June 28: Submit the final report to OAP.

### Monitoring framework and review results timeline
- OAP established a systematic monitoring framework for regular review and tendering of partnership universities to gauge JISPA's effectiveness and guide selection of new partnership universities.
- Key milestones in monitoring and tendering:
  - AY 2008–09: JISPA Program Review conducted.
  - AY 2009–10: First tender of partnership universities conducted following review recommendations.
  - AY 2010–11: Skill-Refreshing Courses evolved into the Orientation Program (OP); tender of a host university conducted.
  - AY 2011–12: Newly selected partnership universities accepted their first intake.
  - AY 2013–14: Mid-term review conducted.
  - AY 2015-16: Comprehensive Review conducted.
  - AY 2016-17: Second tender of partnership universities conducted.
  - AY 2017-18: Tender of the OP host institution conducted.
  - AY 2018-19: Newly selected partnership universities by the second tendering accepted their first intake.
  - AY 2021-22: Mid-term review conducted.
  - AY 2023-24: Preliminary review of the interview process conducted.

*Source: Japan-IMF Scholarship Program for Asia (JISPA) APPENDIX I and APPENDIX II materials.*

### APPENDIX II

### jispa-review2024 - APPENDIX II

### Program reviews, tendering rounds, and outcomes
- The JISPA Program Review was conducted in AY 2008–09 and led to a tender of partnership universities in AY 2009–10 and selection of the OP host university.
- The Comprehensive Program Review was conducted in AY2015-16 and led to a second tender in AY2016-17 and selection of the OP host university.
- The second round contract with selected universities covers eight successive annual intakes with the final intake being in AY 2025-26.
- Midterm reviews:
  - 2014 midterm review (AY 2013–14) found partnership universities had generally met requirements and recommended:
    - offering some practical training courses;
    - relaxing internship guidelines to allow JISPA scholars to participate in internships with Japanese government agencies;
    - organizing informal discussion sessions between JISPA scholars and their country economists of the IMF.
  - 2022 midterm review (conducted one year later than originally scheduled due to the COVID-19 pandemic) concluded partnership universities met target-agency needs with curricula balancing theory and practical training and recommended:
    - continued effort to integrate emerging areas into curricula;
    - utilizing IT technologies for JISPA activities, promotion, and selection process;
    - needs-based academic assistance such as TA/RA who can provide tailored/individual assistance and provision of the list of materials for predeparture self-studies;
    - universities’ possible collaboration and joint-research with government affiliated research institutes to better understand country problems and needs and for promotion;
    - OAP’s more collaboration with the IMF Resident Representative offices for alumni networking.

### Partnership track: selected universities, programs, and intake rules
- The selected partnership universities (same after the second tender) and program/degree/duration/annual intake parameters:
  - National Graduate Institute for Policy Studies
    - Program: Macroeconomic Policy Program
    - Degree: Master of Public Policy (One year) — Number of Annual Intake: Min. five Max. 15
    - Degree: Master of Arts in Public Economics (Two years) — Number of Annual Intake: Min. five Max. seven
  - Hitotsubashi University
    - Program: Asian Public Policy Program
    - Degree: Master of Public Policy (Public Economics) (Two years) — Number of Annual Intake: Min. five Max. seven
  - International University of Japan
    - Program: Macroeconomic Policy Program
    - Degree: Master of Arts in Economics (Two years) — Number of Annual Intake: Min. five Max. seven
  - The University of Tokyo
    - Program: International Program/Master of Public Policy
    - Degree: Master of Public Policy (Two years) — Number of Annual Intake: Min. five Max. seven
- Notes on scholarship numbers and allocation:
  - Sixty scholarships are offered annually under the partnership track, including both new and continuing scholars.
  - Number of new scholars:
    - In the first tender cycle, the number of new scholars tends to be about 34–36, including nine to 12 one-year program students (the number depends on the composition of scholars who have enrolled in one- or two-year programs).
    - In the second tender cycle, the number of new scholars tends to be about 33–36, including seven to ten one-year program students (the number depends on the composition of scholars who have enrolled in one- or two-year programs).
  - The IMF guarantees a minimum number of scholars for each partnership university. Beyond the minimum number and up to the maximum number, acceptance into the university is decided based on candidates’ qualifications and their choice of the universities.

### Orientation Program (OP)
- OP aims to prepare newly accepted scholars with English and mathematics skills, introductory economics, Japanese language, and cross-cultural understanding to facilitate academic readiness and transition to living in Japan.
- IUJ was selected as the OP host institution under the first tender with an agreement covering seven successive annual intakes aligned with the partnership cycle; the first offering of the OP was for AY 2011–12.
- OP course composition (current allocation after adjustments based on scholar and faculty feedback):
  - academic English (four weeks)
  - mathematics/computational skills (four weeks)
  - introductory economics (one week)
  - Japanese language (one week)
  - lectures on cross-cultural understanding
- OP additions since second tender:
  - Japanese practical sessions were introduced.
- OAP staff deliver presentations on the IMF role and function and the contribution that the Japanese government makes to the IMF.

### Open track
- Open track scholarships are for highly motivated officials who wish to study at non-partnership programs at a university in Japan, with priority given to PhD candidates.
- JISPA partnership track scholars are eligible to apply for the open track scholarships for their doctoral degree studies.
- Open-track application/selection specifics:
  - Candidates must first secure admission or apply to their chosen university before applying for the scholarship.
  - OAP economists assess applications to shortlist candidates for interviews, which are conducted by a selection committee including academics and experts in policy-making.
  - The final scholarship recommendation requires approval from the Japanese Ministry of Finance (MOF).
  - Applicants must provide their university admission letter before the final decision on the scholarship award is rendered.

### 2023–24 preliminary review of interview procedures and implementation
- Following the shift from in-person to online interviews, a proposal to change from country-based interviews to University Preference-Based Interviews was reviewed by a third-party consultant from December 2023 to February 2024 as a preliminary step to the February–June 2024 overall review.
- The preliminary review concluded that University Preference-Based Interviews was desirable; benefits and concerns:
  - Benefits:
    - focuses more on applicants;
    - allows universities to judge candidates based on their specific standards.
  - Drawbacks:
    - potential difficulties in maintaining country or agency balance;
    - increased administrative costs.
  - Mitigation:
    - concerns were considered manageable with appropriate measures and policy guidelines from OAP and the MOF;
    - OAP’s facilitation helped contain the main concern over ensuring country balance.
- The University Preference-Based Interviews approach was implemented for AY2024-25 intake selection.

### Administration, promotion, application, and selection procedures
- Promotion:
  - E-brochure and informational fliers are published annually and disseminated through IMF Executive Directors’ offices, Area Departments, the Institute for Capacity Development, Resident Representatives, Regional Capacity Development Centers, and other channels.
  - OAP conducts regular visits to target countries to promote JISPA to senior officials and to maintain connections with alumni.
  - An annual online briefing session, hosted in collaboration with faculty from partnership universities, provides a platform for potential applicants.
  - Comprehensive information about JISPA is available on the website; social media and online platforms are used to highlight events and testimonials.
- Application process:
  - Prospective scholars submit applications through an online system managed by OAP and must include a nomination letter from the applicant’s employer.
- Selection — Partnership track:
  - OAP pre-screens all partnership-track applications.
  - OAP administers an online mathematics test for applicants and an online English test for those lacking recognized English proficiency scores.
  - Qualified applications with test scores are sent to partner universities for screening.
  - A selection committee of faculty members oversees selection; successful applicants are invited for online interviews with their university choices.
  - Final selection decisions are made by the selection committee and OAP in consultation with Japanese authorities.
- Selection — Open track:
  - OAP economists assess applications after candidates secure or apply for university admission; interviews are conducted by a selection committee including academics and policy experts; MOF approval is required for final recommendations.

### OAP activities for scholars, workshops, and continuing education
- OAP-organized events and support:
  - Annual welcome and farewell receptions to foster networking among scholars, Japanese MOF officials, Bank of Japan representatives, and diplomats.
  - Exclusive policy dialogues featuring Japanese policymakers and IMF economists.
  - Opportunities for scholars to present theses.
  - Attendance at high-level regional conferences and public seminars organized by OAP.
  - Annual campus visits to gather feedback.
- JISPA Summer Workshop (introduced in 2018):
  - Targets scholars completing their first year of studies.
  - Aims to deepen understanding of the IMF’s role, functions, and analytical work through lectures and group presentations on surveillance, capacity building, lending, and the IMF’s analytical framework.
- Alumni engagement and continuing education:
  - Partner universities are required to annually submit an updated roster of JISPA graduates to OAP.
  - Notable alumni achievements, especially promotions to senior positions, are reported to the Japanese MOF each year.
  - OAP organizes alumni reunions in various countries coinciding with promotional visits.
  - An online information-sharing system is available for ongoing alumni communication and collaboration.
  - JISPA Continuing-Education Program (JISPA-CE), inaugurated in 2018 in collaboration with the IMF Institute for Capacity Development (ICD), offers a two-week course on contemporary economic policy challenges, including capital flow management, topics on monetary policy, and strategies for achieving inclusive growth.

*Japan-IMF Scholarship Program for Asia (JISPA) — APPENDIX II, IMF*

### APPENDIX IV

### APPENDIX IV

### Scholarship programs: KOICA Scholarship Program
- Country coverage: citizens of designated countries selected by the Korean government (KOICA) from the OECD DAC List of ODA Recipients; list subject to annual changes and provided through KOICA overseas offices or Korean Embassy.
- Number of fellows planned in 2024: 365 fellows for 20 master’s programs and 5 doctoral programs.
- Eligibility criteria:
  - Applicants must be government officials and receive official nomination from their respective governments.
  - Applicants who have received a master’s degree scholarship from the Korean government are NOT eligible; individuals who received a bachelor’s degree scholarship from the Korean government are eligible to apply for KOICA Scholarship program.
  - Individuals previously KOICA SP fellows who had their scholarship cancelled after enrollment are NOT eligible to apply.
  - (Doctoral degree Program) Applicants must be KOICA SP fellows who have successfully completed the KOICA Master's Degree Program and have no experience of receiving foreign assistance to participate in scholarship programs for doctoral degrees.
  - Applicants must satisfy all required documents listed in the Program Information and carefully read and understand application guidelines and Program Information.
- Stipend and other benefits:
  - Pre-departure briefings and orientation programs.
  - Support for initial settling-in, including immigration procedures and transport to the institution.
  - Supplementary benefits such as academic experiential learning activities, encounters with experts, industrial visits, participation in international conferences, Korean language classes, and more.
- Sources listed in the appendix: KOICA website links and scholarship portals (URLs provided in source).

### Scholarship programs: Australia Awards Scholarships
- Country coverage:
  - Asia: Bangladesh, Bhutan, Cambodia, Indonesia, Laos, Maldives, Mongolia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Timor-Leste, Vietnam.
  - Pacific: Federated States of Micronesia, Fiji, French Polynesia, Kiribati, Marshall Islands, Nauru, New Caledonia, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, Vanuatu, Wallis and Futuna.
  - Middle East: Occupied Palestinian Territories.
  - Africa: Algeria, Benin, Botswana, Côte d'Ivoire, Democratic Republic of Congo, Egypt, Ethiopia, Ghana, Kenya, Madagascar, Malawi, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Tanzania, Uganda, Zambia and Zimbabwe.
- Eligibility and administrative considerations:
  - Applicants must be residing in and applying from their country of citizenship.
  - Visa and admission requirements must be satisfied; Program Areas may withdraw an award offer if institution admission or visa requirements are not met.
  - Certain exclusions related to Australian or New Zealand citizenship or permanent residency during application, selection and mobilisation phases are specified (including Cook Islands, Niue and Tokelau nuances).
  - Applicants must satisfy child protection and PSEAH-related requirements and any country-specific employment prerequisites.
- Stipend and other benefits:
  - Economy class airfares to and from Australia via the most direct route.
  - Contribution towards accommodation expenses, text books, study materials.
  - Contribution to basic living expenses paid at a rate determined by the department.
  - Pre-departure information briefings prior to commencement of formal academic studies covering living and studying in Australia.
  - Overseas Student Health Cover (for award holder only) to cover basic medical costs (with the exception of pre-existing conditions).
  - In-country and/or in-Australia training opportunities.
  - Funding available for scholarly activities to support academic success or enhance academic experience.
  - For eligible research students with compulsory fieldwork, one return economy class airfare via the most direct route to their country of citizenship or within Australia may be available.
- Sources listed in the appendix: Study Australia and DFAT policy handbook links (URLs provided in source).

### Selected survey results — Sending Agencies (key findings and statistics)
- Leave for Master’s degree (institution willingness to allow officials to take leave):
  - Up to two years: 138 responses, 87 percent.
  - More than two years: 10 responses, 6 percent.
  - Will depend on the content of the course: 17 responses, 7 percent.
- Most important aspect (from five choices):
  - Broad understanding of economic and policy issues: 106 responses, 67 percent.
  - Depth of analytical skills relevant to your institution: 42 responses, 27 percent.
  - Ability to read/write and conduct economic and policy discussions in English: 2 responses, 1 percent.
  - Deeper knowledge of Japan and experience in Japan: 0 responses, 0 percent.
  - Contacts and interaction with officials from other countries: 0 responses, 0 percent.
- Extent JISPA scholars returned with attributes:
  - Ability to read/write and conduct economic and policy discussions in English:
    - Greatly improved: 74 responses, 47 percent.
    - Sufficiently improved: 77 responses, 53 percent.
    - Improved, but not enough: 0 responses, 0 percent.
    - No improvement: 0 responses, 0 percent.
    - Don’t care: 0 responses, 0 percent.
  - Broad understanding of economic and policy issues:
    - Greatly improved: 53 responses, 33 percent.
    - Sufficiently improved: 98 responses, 67 percent.
    - Improved, but not enough: 0 responses, 0 percent.
    - No improvement: 0 responses, 0 percent.
    - Don’t care: 0 responses, 0 percent.
- Subject areas institutions feel JISPA scholars need to learn most (n=14):
  - Macroeconomics: 5 responses, 36 percent.
  - Public Finance: 3 responses, 21 percent.
  - Monetary Policy: 2 responses, 14 percent.
  - Econometrics: 2 responses, 14 percent.
  - Financial Economics: 1 response, 7 percent.
  - Other (specified: Macroeconomics, Econometrics, Financial Economics): 1 response, 7 percent.
- Difference in performance based on university attended (multiple answers possible, n=18):
  - No difference: 10 responses, 56 percent.
  - Difference: 7 responses, 39 percent.
  - Not Applicable/Small Number of Graduates: 1 response, 6 percent.
- Overall evaluation of JISPA meeting capacity building needs (n=15):
  - Very relevant: 8 responses, 53 percent.
  - Relevant: 6 responses, 40 percent.
  - No difference: 1 response, 7 percent.
- Institution willingness to allow future participation in JISPA:
  - Yes: 15 responses, 100 percent.
  - No: 0 responses, 0 percent.
- Institutional need for staff with a doctoral degree (n=15):
  - Yes: 13 responses, 87 percent.
  - No: 2 responses, 13 percent.
- Subject areas for a doctoral degree (multiple answers possible, n=43):
  - Macroeconomics: 11 responses, 26 percent.
  - Public Finance: 9 responses, 21 percent.
  - Public Policy Management: 8 responses, 19 percent.
  - Econometrics: 7 responses, 16 percent.
  - Financial Economics: 5 responses, 12 percent.
  - Microeconomics: 2 responses, 5 percent.
  - Trade: 1 response, 2 percent.
- Institution willingness to send staff for a doctoral program (n=13):
  - Yes: 12 responses, 92 percent.
  - No: 1 response, 8 percent.
- Length of leave institutions willing to allow for Ph.D. studies (n=12):
  - Up to three years: 7 responses, 58 percent.
  - Up to five (consecutive) years for both a master's and Ph.D. programs: 5 responses, 42 percent.
- Scholarship programs staff participate in (n=18; multiple answers possible):
  - Your government's scholarships: 13 responses, 73 percent.
  - Not applicable/available: 13 responses, 73 percent.
  - Your agency's own scholarships: 7 responses, 42 percent.
- Scholarship programs funded by other countries (n=51; multiple answers possible):
  - U.K.: 10 responses, 20 percent.
  - U.S.: 10 responses, 20 percent.
  - Australia: 9 responses, 18 percent.
  - Republic of Korea: 7 responses, 14 percent.
  - Singapore: 7 responses, 14 percent.
  - China: 4 responses, 8 percent.
  - Not applicable: 2 responses, 4 percent.
  - Other: 2 responses, 4 percent.
- Japanese government-funded scholarship programs used by staff (n=43; multiple answers possible):
  - JICA/JDS Scholarship Program: 10 responses, 23 percent.
  - Japan-ADB: 9 responses, 21 percent.
  - Young Leaders Program under MEXT Scholarship: 9 responses, 21 percent.
  - Japan-World Bank: 7 responses, 16 percent.
  - MEXT Scholarships: 5 responses, 12 percent.
  - Not applicable: 1 response, 2 percent.
  - Other (specified: JICA; JETRO-IDEAS): each 1 response, 2 percent.

### Selected survey results — Alumni (Partnership Track) (key findings and statistics)
- Seniority of current position compared to time of JISPA admission (n=99):
  - About the same: 19 responses, 19 percent.
  - Slightly higher: 52 responses, 53 percent.
  - Significantly higher: 28 responses, 28 percent.
  - Lower: 0 responses, 0 percent.
- Career progression due to JISPA studies and experience (n=99):
  - Strongly agree: 56 responses, 57 percent.
  - Agree: 35 responses, 35 percent.
  - Neither agree nor disagree: 4 responses, 4 percent.
  - Disagree: 0 responses, 0 percent.
  - Strongly disagree: 4 responses, 4 percent.
- Master's program outcomes — attained skills valuable to work (n=99):
  - Strongly agree: 51 responses, 52 percent.
  - Agree: 43 responses, 43 percent.
  - Neither agree nor disagree: 11 responses, 11 percent.
  - Disagree: 0 responses, 0 percent.
  - Strongly disagree: 4 responses, 4 percent.
- Balance between theory and practice in coursework (n=99):
  - Just right mix between theory and practice: 84 responses, 85 percent.
  - Too much theory: 13 responses, 13 percent.
  - Too much practice: 2 responses, 2 percent.
- Preference for focused soft skills courses (public speaking, presentation, negotiation) (n=99):
  - Strongly preferable: 37 responses, 37 percent.
  - Preferable: 47 responses, 47 percent.
  - Neutral: 10 responses, 10 percent.
  - Not necessary: 4 responses, 4 percent.
  - Not necessary at all: 1 response, 1 percent.
- Attractiveness of masters scholarship with option to continue onto a PhD (n=99):
  - Strongly agree: 49 responses, 49 percent.
  - Agree: 35 responses, 35 percent.
  - Neither agree nor disagree: 12 responses, 12 percent.
  - Disagree: 2 responses, 2 percent.
  - Strongly disagree: 1 response, 1 percent.
- Sources of information about JISPA (n=196; multiple answers possible):
  - Colleagues/friends: 68 responses, 35 percent.
  - Information circulated at workplace: 55 responses, 28 percent.
  - OAP/JISPA website: 34 responses, 17 percent.
  - Supervisor: 17 responses, 9 percent.
  - IMF Res. Rep. Office or local office: 13 responses, 7 percent.
  - IMF/OAP Social Media (Facebook, X): 4 responses, 2 percent.
  - IMF training institutes/centers: 3 responses, 2 percent.
  - Other: 2 responses, 1 percent.
- Reasons for choosing JISPA over other scholarship programs (n=435; multiple answers possible; top items):
  - IMF's involvement: 57 responses, 13 percent.
  - Study in Japan or Japan's contribution to the JISPA: 54 responses, 12 percent.
  - Availability of the scholarship program in your country: 54 responses, 12 percent.
  - Reputation: 46 responses, 11 percent.
  - Recommendations by workplace supervisor or colleague who participated in the JISPA: 46 responses, 11 percent.
  - Choice of university under the partnership track: 45 responses, 10 percent.
  - Networking opportunities with other JISPA fellows with similar career background: 36 responses, 8 percent.
  - Suitable and safe environment offered by Japan (including for family members): 36 responses, 8 percent.
  - Amount of financial support provided under the JIS: 33 responses, 8 percent.
  - Orientation Program: 27 responses, 6 percent.
- Monthly stipend and financial support sufficient to focus on studies (n=99):
  - Strongly agree: 11 responses, 11 percent.
  - Agree: 48 responses, 48 percent.
  - Neither agree nor disagree: 21 responses, 21 percent.
  - Disagree: 16 responses, 16 percent.
  - Strongly disagree: 3 responses, 3 percent.
- Did alumni bring family to stay in Japan (n=50):
  - Yes: 33 responses, 66 percent.
  - No: 17 responses, 34 percent.
- Activities to strengthen JISPA alumni networking (n=107; multiple answers possible):
  - JISPA-CE: 40 responses, 37 percent.
  - Periodical in-person gatherings within your country: 34 responses, 32 percent.
  - Communications/networking through social media and the JISPA alumni networking site: 18 responses, 17 percent.
  - Online seminars: 12 responses, 11 percent.
  - Other: 3 responses, 3 percent.

### Status of recommendations from earlier JISPA reviews (implementation status and comments, selected items; as of June 2024)
- June 2009 Comprehensive Review:
  - Recommendation: Adjust program focuses (GRIPS and YNU away from transition; IUJ away from development; HIT to continue focusing on public finance but strengthen financial area; partnership universities teach high-level courses in macroeconomic policy formulation, central banking and policy, and financial markets and institutions; consider other suitable universities).
    - Implemented: Done. Comment: Those recommendations were reflected in the tendering process.
  - Recommendation: Promote interaction of JISPA scholars with Japanese students and broaden collaboration in course offerings between partnership universities.
    - Implemented: Partially done. Comment: OAP encouraged the universities; constraints existed given the English medium program.
  - Recommendation: Encourage each partnership university to have its own area of focus and maintain one-year and two-year program mix.
    - Implemented: Done.
  - Recommendation: Apply a more rule-based approach to selection to maintain geographical representation; allocate some scholarships to low income countries.
    - Implemented: Done. Comment: OAP continued to pay due attention to regional balance.
  - Recommendation: OAP more involved operationally (create alumni networking website; invite visiting IMF staff to seminars).
    - Implemented: Done. Comment: Alumni networking site was developed and introduced; OAP organizes JISPA seminars inviting IMF staff from HQ and the region who are stopping by Tokyo.
  - Recommendation: Move recruitment cycle earlier to attract higher quality applicants; use Resident Representatives and OAP visits to advertise.
    - Implemented: Partially done. Comment: Some RR offices promote JISPA via application notices through their contact channels.
  - Recommendation: Continue flexibility admitting students to PhD programs, especially under open track.
    - Implemented: Done. Comment: Open-track gives priority to Ph.D. candidates; for Ph.D. programs the academic supervisor is the important factor; identification of routine accepting universities for open-track scholars is difficult.
- June 2014 Midterm Review:
  - Recommendation: Continue with four partnership universities, offering both a one-year program (GRIPS) and two-year programs.
    - Implemented: Done.
  - Recommendation: OAP and partnership universities promote program strengths and features.
    - Implemented: Done.
  - Recommendation: Consider additional practical training (case studies and financial programming).
    - Implemented: Done.
  - Recommendation: Maintain current structure of Orientation Program.
    - Implemented: Done.
  - Recommendation: Keep open-track scholarship option with preference for PhD candidates.
    - Implemented: Done.
  - Recommendation: OAP to arrange practical sessions on Article IV missions and briefings by high-level IMF officials visiting Tokyo.
    - Implemented: Done.
  - Recommendation: Relax internship guidelines with conditions (university and sponsoring agency approval; limit to public sector; internships unpaid).
    - Implemented: Done.
- July 2016 Comprehensive Review:
  - Recommendation: Partnership universities should improve curricula by achieving a better balance between theory and practice and offering more courses in financial economics (e.g., macro prudential analysis, portfolio analysis, investment banking, securities markets); utilize case studies and IMF online courses such as macroeconomic forecasting and financial programming.
    - Implemented: Partially done. Comment: Recommendations were reflected in the tendering process; IMF online courses are difficult for universities to include as credit-based courses, but OAP encourages scholars to undertake the FPP and other relevant online courses during and after the Summer Workshop.

*Source: JISPA Review 2024, APPENDIX IV.*

### APPENDIX VI

### APPENDIX VI

### Strengthening scholar interaction with Japanese students and public exchange
- Many officials in Asia consider the link with the IMF and Japan to be a key attraction of the program.
- Recommendation: Partnership universities should devise ways to promote interaction between JISPA scholars and Japanese students both inside and outside the classroom.
- Suggested measures:
  - Create a common room with free coffee and snacks open to all students and professors for informal meetings and discussions.
  - Create a public space for free exchange of ideas with incentives to participate across intellectual and cultural backgrounds.
- Implementation status: Partially done.
- Further note: Partnership universities were advised to increase participation in undergraduate courses, student clubs, local school visits, and host-family arrangements. Implementation status: Partially done.

### Curriculum focus, specialization, and emerging topics
- Observation: While all partnership universities have macroeconomic-oriented programs, each should be encouraged to develop its own area of study/research focus to build reputation.
- Recommendation: Continue efforts to improve competitiveness against other domestic and foreign scholarship programs (World Bank, ADB, JICA, Australia, and New Zealand).
- Suggested content: Offer courses on policy lessons that developing countries can learn from Japan’s post-war experience of economic success and failure.
- Note on tendering: Since the key requirement was a macroeconomic-oriented program at the time of tendering, curricula developed and proposed are more or less similar among the universities (the UTokyo is noted as an exception given its multi-disciplinary approach).
- All universities offer courses with Japanese content.
- Implementation status for integrating newly emerging trends and arranging “needs-basis” tutors/teaching assistants: Pending.
- Courses on emerging topics are provided through elective courses or seminar series.

### Program length, PhD/Open-track, and continuing education
- Recommendation: Retain the current mix of one-year and two-year programs to accommodate tight staffing conditions of some sending agencies, but place more weight on two-year programs.
- Implementation status: Done.
- Recommendation: OAP should remain flexible about admitting students to PhD programs under the open track as demand has picked up.
- Rationale: Many Asian developing countries are experiencing rapid integration with international financial markets and the world economy, increasing the need for highly trained professionals, particularly in financial expertise.
- Implementation status: Done — Continue to accept scholars under the Open-track.
- Continuing education recommendation: Seek opportunities for former scholars at mid-career to refresh skills in macroeconomics, monetary and fiscal policy, and financial economics.
- Specific offering: Japan-IMF Macroeconomic Seminar for Asia (JIMS), a one-week executive seminar jointly organized with host universities and OAP.
- Other possibilities: OAP to act in synergy with the IMF-Singapore Regional Training Institute (STI) to develop new leadership programs targeted at mid-career staff.
- Implementation status: Done — JISPA Continuing Education (CE) was initiated in 2018.
- Place priority under the open-track scholarships on PhD candidates: Done.

### Internships, seminars, and engagement with Japanese authorities
- Given limited internship availability, OAP is progressing toward providing round-table discussions with the Ministry of Finance and the Bank of Japan, and possibly the Financial Services Agency, in place of internships.
- Implementation status: Partially done.
  - OAP proposed the roundtable discussion format to the BOJ/MOF.
  - Alternatively, MOF/BOJ seminars on policy topics were introduced, including a tour at the MOF/BOJ.
- OAP should utilize IMF resident representatives to publicize and advertise JISPA beyond ministries of finance and central banks.
- OAP should seek to send IMF economists and Japanese economists from the Japanese government and the Bank of Japan to partnership universities (especially outside Tokyo) to present lectures/seminars on current policy issues.
- Implementation status: Partially done.
  - OAP annually seeks assistance/advice from the resident representative (RR) offices on target agencies for promotion.
  - When a campus visit to IUJ was conducted, a lecture by an OAP economist open to IUJ scholars was conducted; scheduling conflicts and COVID-19 limited recent arrangements.
  - In AY2023-24, OAP resumed sending a Fund economist to IUJ.

### Staffing, funding, and administrative arrangements
- Recommendation: OAP should closely collaborate with the Government of Japan to secure sufficient funding for JISPA to maintain and improve effectiveness and flexibility; secure funding for additional staffing to implement initiatives.
- Implementation status: Done.
  - Initially, OAP hired a temporary staff to help mainly logistics work.
  - A newly hired OAP staff joined the JISPA team while also serving as secretariat for management.
  - OAP is in the process of hiring a full-time staff member for JISPA.
- November 2022 Midterm Review: Recommendation Implemented.

### Outreach, marketing, and alumni network
- Recommendation: Utilize online communication/IT resources for JISPA marketing, seminars, examinations, and selection of candidates.
- Implementation status: Done — An annual JISPA online briefing is held, inviting professors from each university.
- Recommendation: JISPA to continue striving in marketing, including promotion trips by partnership universities.
- Implementation status: Ongoing.
- Recommendation: OAP to further collaborate with IMF resident representatives and country teams to reinforce the JISPA alumni network.
- Implementation status: Ongoing.
- Recommendation: Improve recruitment process to ensure qualifications of students; consider accepting weaker scholars to address country under-representation if partnership university provides additional academic support.
- Implementation status: Done.

### Outstanding and not-implemented recommendations
- Universities to come up with a list of existing online courses and/or materials for pre-departure studies by incoming scholars: Not done.
- Consider joint research projects between partnership universities, the IMF and sending agencies: Not done.
- Consider internships at research institutes affiliated with financial institutions: Not done.
- Arrange a “school day” in connection with the OP at IUJ, during which other partnership universities facility visit: Done.

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_Source: https://www.imf.org/-/media/files/oap/jispa/2024/jispa-review2024.pdf_