{
  "title": "Virtual: Managing Capital Flows: Macroeconomic Analysis and Policies",
  "sourceUrl": "https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2024/mcfat24-31v",
  "canonical": "https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2024/mcfat24-31v",
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  "summary": "Virtual: Managing Capital Flows: Macroeconomic Analysis and Policies Training Program Target Audience Junior to mid-level policy makers in central banks and finance ministries who have policy responsibilities related to capital account management.",
  "publishDate": "2024-12-04",
  "sections": [
    {
      "heading": "Target audience and prerequisites",
      "content": "- Target Audience:\n  - Junior to mid-level policy makers in central banks and finance ministries who have policy responsibilities related to capital account management.\n  - No prior knowledge of the material is required.\n- Qualifications:\n  - Participants are expected to have an advanced degree in economics or equivalent experience, good quantitative skills, and a basic knowledge of Microsoft Excel.\n  - It is recommended that applicants have taken either the Financial Programming and Policies (FPP) or the Macroeconomic Diagnostics (MDS) course.\n- Pre-requisites: Not applicable."
    },
    {
      "heading": "Course description — scope and structure",
      "content": "- The course is presented by the Institute for Capacity Development.\n- Purpose:\n  - Foster understanding of the dynamics of capital flows and their effects on economic growth, macroeconomic volatility, and risk of crisis.\n- Structure:\n  - Refresher on balance of payments statistics and description of alternative measures of capital flows and financial (capital) account openness.\n  - Determinants of capital flows and the link between these flows and economic growth, macroeconomic volatility, and crisis risk.\n  - Discussion of sequencing capital account liberalization to reap benefits of capital market integration while minimizing and mitigating adverse effects.\n  - Coverage of analytical methods and data sources for the analysis and forecasting of capital flows.\n  - Discussion of the IMF’s Institutional View on capital flows and its relation to macroeconomic policy, macroprudential measures, capital flow management tools, and exchange rate intervention.\n  - Case studies of actual crises illustrating how policy setting and failure to recognize and address the buildup of vulnerabilities led to crisis.\n  - Practical workshop exercises and participant engagement throughout the course."
    },
    {
      "heading": "Learning objectives and competencies",
      "content": "Upon completion of the course, participants should be able to:\n- Explain the dynamics of the capital account using the balance of payments of a given country.\n- Identify the financial and economic risks that a global capital market creates for both small and large economies.\n- Determine what challenges a country faces in attempting to stabilize the economy under different economic scenarios.\n- Understand the appropriate sequencing of capital account liberalization and associated reforms.\n- Identify how policy actions can influence or prevent the occurrence of capital account crises.\n- Evaluate the impact of financial reform policies on both economic growth and the risk of financial crisis.\n- Understand the key features of the IMF’s Institutional View, and the use of macroeconomic policies, macroprudential measures and capital flow management tools.\n- Propose policy actions to address or avoid future crises and reduce their costs."
    }
  ],
  "bullets": [
    "Target Audience:",
    "Qualifications:",
    "Pre-requisites: Not applicable.",
    "The course is presented by the Institute for Capacity Development.",
    "Purpose:",
    "Structure:",
    "Explain the dynamics of the capital account using the balance of payments of a given country.",
    "Identify the financial and economic risks that a global capital market creates for both small and large economies.",
    "Determine what challenges a country faces in attempting to stabilize the economy under different economic scenarios.",
    "Understand the appropriate sequencing of capital account liberalization and associated reforms.",
    "Identify how policy actions can influence or prevent the occurrence of capital account crises.",
    "Evaluate the impact of financial reform policies on both economic growth and the risk of financial crisis.",
    "Understand the key features of the IMF’s Institutional View, and the use of macroeconomic policies, macroprudential measures and capital flow management tools.",
    "Propose policy actions to address or avoid future crises and reduce their costs."
  ],
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  },
  "generatedAtUtc": "2026-09-29T16:49:52.467Z"
}