Capacity Development

Strengthening the capacity of institutions—including central banks, finance ministries, revenue administrations, statistical agencies, and financial sector supervisory agencies—results in more effective policies and greater economic stability and growth. The IMF, along with its partners, works with member countries to upgrade their economic policies and strengthen institutions by providing demand-driven, tailored hands-on technical assistance and training. IMF capacity development (CD) also includes a suite of diagnostic tools and publications and peer-learning opportunities. In the current environment of elevated financial stability risks, growing debt vulnerabilities, and rapid digitalization, CD plays a critical role in helping countries prevent and address those challenges. By strengthening institutional capacity to identify and manage emerging threats, CD supports more resilient economic and financial systems.

Every five years, the IMF undertakes a comprehensive review of its CD strategy. The 2024 CD Strategy Review  outlined the vision for IMF CD for building institutions and individual capacity through making CD more flexible, tailored, and better integrated with policy advice and program design. This strategic vision is informed by the IMF’s comparative advantages and its surveillance and lending priorities in an evolving global landscape.

The medium-term reform priorities include further modernizing CD delivery by leveraging new technologies, enhancing the effectiveness of field presence through the IMF’s network of regional technical assistance and training centers, and reinforcing coordination with other development partners to improve traction, efficiency, and funding of CD. The recently published comprehensive CD Guidance Note and the ongoing Comprehensive Surveillance Review, which will identify the IMF’s surveillance priorities, aim to further advance CD-surveillance integration. In addition, the ongoing Review of Program Design and Conditionality will, among other things, help strengthen the integration of CD with IMF-supported program objectives.

Kosovo

CD focuses on the IMF’s core areas of expertise, such as public finances, financial sector stability, central bank operations, macroeconomic frameworks, and economic statistics. It helps countries design better macroeconomic policies, mobilize revenue, spend better, produce better data for economic decisions, and strengthen monetary and financial stability, including by strengthening members' regulatory and supervisory capacity for fintech, digital money, and payment modernization. The IMF is uniquely positioned to support its membership in these areas, with its global reach and world-class institutional experience. All IMF members benefit from CD, but priority is given to low-income and fragile and conflict-affected states, as well as to countries with IMF programs.

At the request of country authorities, IMF country teams and technical experts develop and implement an integrated work plan tailored to member countries’ needs and absorption capacity. In addition, a variety of publications provide technical information and cross-country analyses useful to national authorities. The IMF works with member countries through a global network of 17 regional capacity development centers (RCDCs); in-country placements of long-term resident advisors, whose sustained field presence is particularly valuable for institution building in fragile and capacity-constrained settings; and short-term assignments of IMF staff and experts (in person, remotely, or a combination of the two—that is, through a hybrid model), classroom training, and free online courses. Donor partners of the IMF and RCDC member countries fund about two-thirds of direct spending on CD.

United States

Important milestones in FY 2026 included the launch of a regional training program for South America and Mexico. Hosted by the Central Bank of Paraguay in Asunción, the pilot program facilitates tailored training to officials in the region, where the IMF is actively involved in surveillance and lending, and where our surveys confirm considerable unmet demand for capacity development.

Two other CD centers in the Western Hemisphere—the Caribbean Regional Technical Assistance Centre (CARTAC) and the Regional Technical Assistance Center for Central America, Panama and the Dominican Republic (CAPTAC-DR)—celebrated their anniversaries. Both deliver capacity building, facilitate reform processes, and support integration into the world’s economy of their 30 member states in Central America and the Caribbean.

United States

In March 2026, the IMF announced the Southeast Europe Technical Assistance Center (SEETAC), a new RCDC that will strengthen economic institutions and policymaking across the western Balkan countries—Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia—and Moldova. SEETAC is expected to begin operations by January 2027. Following a competitive evaluation process, Rome was selected to host the center, which will deliver high-quality tailored technical assistance in key areas for macroeconomic management: fiscal policy, monetary and financial sector policies, macroeconomic frameworks and forecasting, statistics, and legal issues. The center will also provide workshops and peer-to-peer seminars to policymakers from its seven member countries and will complement training offered by the IMF’s Joint Vienna Institute.

Finally, the China-IMF Capacity Development Center (CICDC), a collaborative venture between the IMF and the People’s Bank of China, has relocated to the venue shared with the IMF’s Shanghai Center—a newly created hub to promote research and knowledge sharing in emerging market and middle-income countries of the Asia and Pacific region.

United States

The IMF online learning program continued its expansion, aligned with the recommendations of the CD strategy review. A major focus in FY 2026 was on strengthening and revitalizing the quality and relevance of the foundational courses in key areas such as financial programming, macroeconomic diagnostics and forecasting, financial markets, and public finance, ensuring that participants have access to up-to-date, rigorous content that supports more advanced training and technical assistance. Thirteen new open online courses were launched—four in English and nine in other languages—bringing the total number of courses offered to 136. In addition, the IMF’s microlearning portfolio was expanded with more than 75 new bite-size on-demand videos, giving participants flexible, targeted tools to address knowledge gaps and build job-relevant skills.

India

The IMF also revamped its external training program for country authorities. The 2026 program has been modernized to include illustrative learning paths, offering a structured sequence of courses. It also introduces a new taxonomy of IMF training modalities, making it easier for participants to navigate the expanding curriculum. Together, these enhancements aim to foster continuous learning, strengthen capacity, and support participants in achieving their professional development goals..

United States

Building Macroeconomic Capacity in Central America and the Caribbean

Two of the IMF’s CD centers in the Western Hemisphere—the Regional Technical Assistance Center for Central America, Panama, and the Dominican Republic (CAPTAC-DR) and the Caribbean Regional Technical Assistance Centre (CARTAC)—celebrated their anniversaries in FY 2026.

CAPTAC‑DR opened in May 2009 in Guatemala City as a collaborative initiative between its seven member countries (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, and the Dominican Republic), external development partners, and the IMF.

For more than 15 years, the center has worked closely with national authorities and development partners, providing technical assistance in public finance, monetary and financial sectors, and macroeconomic statistics. This engagement, tailored to country‑specific development priorities, has contributed to tangible progress, including stronger revenue mobilization, modernized treasury management practices, improved monetary policy implementation, wider adoption of international standards in banking supervision and regulation, and enhanced quality and dissemination of macroeconomic data in the member states. At the same time, countries continue to face persistent challenges, including capacity constraints, uneven reform implementation, vulnerability to external shocks, and the need to sustain institutional gains amid evolving macro‑financial risks. CAPTAC‑DR will continue to support its member countries in consolidating reforms and strengthening institutions to navigate an increasingly complex global environment.e persistent challenges, including capacity constraints, uneven reform implementation, vulnerability to external shocks, and the need to sustain institutional gains amid evolving macro‑financial risks. CAPTAC‑DR will continue to support its member countries in consolidating reforms and strengthening institutions to navigate an increasingly complex global environment.

Barbados

CARTAC has been serving its 23 members across the Caribbean region for a quarter of a century. Since 2001, the center has provided support aimed at strengthening human and institutional capacity to design and implement sound macroeconomic and financial policies that promote growth and reduce poverty in the region. Its work spans core areas critical to economic resilience, including macroeconomic analysis, public financial management, revenue administration, financial stability and supervision, debt management, and economic statistics.

Over the years, CARTAC has also adapted to better serve its members amid evolving challenges facing the region. The demand-driven technical assistance and training offered by the center have contributed to improvements in revenue administration, budget credibility, debt sustainability, financial sector oversight, and the quality of economic statistics across the region. CARTAC has also been instrumental in supporting future leaders of the region, having sponsored over 100 interns in numerous national entities across the Caribbean.

CARTAC will continue to focus on delivering flexible, results-oriented capacity development; deepening regional peer learning; and integrating macro‑critical issues across its work streams.

United States

Strengthening Capacity Through a Revamped IMF Training Program

For the year 2026, the IMF launched a revamped external training program, designed to better guide authorities from the member countries in identifying and accessing learning opportunities across the IMF’s global training network. The new program reflects the findings of an external curriculum review, conducted in response to recommendations from the 2024 Capacity Development Strategy Review, which called for clearer learning pathways, stronger alignment with IMF policy work, and improved accessibility across training modalities.

Delivered through the IMF’s regional training centers, at the headquarters, and online, the program remains focused on the IMF’s core areas of expertise, including public finance, financial stability, monetary policy, macroeconomic frameworks, and macroeconomic statistics. It aims to strengthen the capacity of government officials to design and implement sound economic policies by combining solid conceptual foundations with practical analytical tools. The 2026 program emphasizes stronger integration between training and other IMF capacity development activities. Policy-oriented courses are increasingly aligned with IMF surveillance, lending operations, and technical assistance, while peer-to-peer learning events and regional workshops provide opportunities for officials to exchange experiences and apply knowledge to country-specific challenges.

Figure 2.1

Illustrative Learning Path

Building Blocks in Macroeconomic Analysis and Financial Programming

Objective: Establish a solid foundation of knowledge in building a macro framework, conducting macroeconomic analysis, and developing policy scenarios.

• Online: Introduction to Financial Programming and Policies (FPP.0x)
• Online: Financial Programming and Policies, Part 1: Macroeconomic Accounts and Analysis (FPP.1x)
• Online: Financial Programming and Policies, Part 2: Program Design (FPP.2x)
• Financial Programming and Policies (FPP)

Enhancing Analytical, Forecasting, and Communication Skills

Objective: Build more technical skills of macroeconomic diagnostics, forecasting, and communication.

• Online: Macroeconomic Diagnostics (MDS.x)
• Macroeconomic Diagnostics (MDS)
• Online: Macroeconomic Forecasting (MF.x)
• Macroeconomic Forecasting and Analytics (MFA)
• Vulnerability Diagnostics (VDS) • Macroeconomic Policy Communication (MPC)

Advanced/Specialized Topics in Macroeconomic Strategy and Policy

Objective: Specialize in niche areas such as Dynamic Stochastic General Equilibrium modeling, nowcasting, resource-rich country management, and regional economic integration.

• Monetary and Fiscal Policy Analysis with DSGE Models (DSGE)
• Nowcasting (NWC)
• Economic Issues in Regional Integration (ERI)
• Online: Macroeconomic Management in Resource-Rich Countries (MRC.x)
• Macroeconomic Management in Resource-Rich Countries (MRC)

Source: Prepared by the IMF Institute for Capacity Development.

To meet the diverse needs of its global membership, the IMF offers training through a range of formats, including online courses, in-person workshops at regional training centers and headquarters, hybrid sessions, virtual seminars, and blended learning programs that combine online and classroom instruction. This flexible approach enables participants to engage with expert instructors, collaborate with peers, and access a wide array of resources. By embracing innovative training approaches, the IMF fosters a dynamic learning environment that strengthens the capacity of individuals and institutions, ultimately contributing to more effective economic policymaking worldwide.

A key feature of the revamped training program is the introduction of illustrative learning paths that guide participants through structured sequences of courses within specific thematic areas, starting with foundational concepts and progressing to more advanced topics. This approach not only supports mastery of specific skills but also helps learners remain motivated and organized throughout their educational journey. While the learning paths detailed in the 2026 program are not prescriptive and do not constitute a required sequence of courses, they provide a valuable road map for government officials and their institutions, aiding in the planning of skill development and the strengthening of capacity for more effective policymaking.