Training Program

Mid- to senior-level officials working in the payment, technology, monetary policy, international economics and financial stability departments at the central bank and in positions with similar responsibilities.

Participants should have experience in the operations and/or oversight in one or more of the following areas: payments, legal, technology, monetary policy, international economics and financial stability. A background in basic macro-economics could help.

This course, presented by the IMF's Monetary and Capital Markets Department, focuses on reshaping cross-border payments in the digital age. The course is designed to be interactive by relying on a combination of lectures, case study simulations, and panel discussions. Lectures first focus on an overview of the state-of-the-art knowledge on how innovative digital means of payments (central bank digital currencies and stable coins) could be used for international transactions. The course then analyzes the benefits (e.g. lower frictions and in the end costs, broader access to international payments) and risks for the economies, focusing on implications for monetary policy, financial stability, capital flows and the international monetary system. Potential policy responses are then discussed. Participants are then encouraged to apply this basic understanding of cross-border payments in hypothetical case studies and panel discussions. (Note: The course may be subject to further changes to accommodate remote delivery).