Training Program

Junior to senior officials in ministries of finance or economy, central banks, and other government agencies responsible for implementing macroeconomic and exchange rate policies, capital flow management measures and capital account liberalization. The training is particularly beneficial for officials seeking to understand the interaction among macroeconomic policies, exchange regimes and capital flow management measures when addressing external sector shocks.

 

Participants are expected to have an advanced degree in economics or equivalent experience, good quantitative skills, and a basic knowledge of Microsoft Excel. It is expected that applicants would have previously completed either the Financial Programming and Policies (FPP) or the Macroeconomic Diagnostics (MDS) course.

This course gives a comprehensive overview of exchange rate analysis and policy, and capital flow management policies. Participants will gain new perspectives on exchange rate policy challenges, capital account liberalization and the management of capital flow volatility. The "cohort" approach means that the same group of participants will go through the entire program together. Through collaboration in small groups, they will refine their problem-solving abilities and build professional networks with peers working from diverse viewpoints. The course includes actual country case studies, and participants are expected to engage in discussions and work on practical workshop exercises to solidify their understanding of the lecture material.

The program includes the following structure and time commitment:
    Exchange Rate Policy Course: August 17-28, 2026, in-person in Vienna.
    Managing Capital Flows Course: November 30-December 11, 2026, in-person in Vienna.