Macroeconomic Management in Resource Rich Countries

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Macroeconomic Management in Resource Rich Countries (MRC)

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Session No.: CE 19.09

Location: Kuwait City, Kuwait

Date: March 3-14, 2019 (2 weeks)

Primary Language: English

Interpretation Language: Arabic

Target Audience

Mid-level to senior officials from central banks, ministries of finance, and other government agencies tasked with design and execution of policies in resource-rich countries (RRCs).

Qualifications

Participants are expected to have an advanced degree in economics or equivalent experience and be proficient in the use of Excel.

Course Description

This course, presented by the IMF Institute for Capacity Development, deals with RRC macroeconomic policy issues. The course incorporates lectures, hands-on workshops, debates, case studies, and online warm-up exercises.

Course Objectives

Upon completion of this course, participants should be able to

Assess how RRC economic performance may differ from that of other countries in terms, e.g., of growth, inclusive growth, political economy, resource curse, economic diversification, and Dutch disease.
Apply simple fiscal benchmarks to determine how much to extract, consume, and save from the sale of natural resources and modalities for savings, such as a sovereign wealth fund.
Design an effective fiscal framework and regime.
Identify macroeconomic policy responses to commodity price shocks.
Assess the extent of transparency in the management of natural resources.

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