## Managing Capital Flows: Macroeconomic Analysis and Policies (MCF)

## Source details

**Canonical URL:** [Managing Capital Flows: Macroeconomic Analysis and Policies (MCF)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2026/mcfct26-08)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/ct/2026/mcfct26-08/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/ct/2026/mcfct26-08/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/ct/2026/mcfct26-08/bundle-manifest.json)

## Bibliographic details
- Session: CT 26.08
- Location: Shenzhen, China
- Dates: June 8-17, 2026 (2 weeks)
- Delivery method: In-person Training
- Primary language: English
- Status: Deadline passed

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### Target audience and qualifications
- Target Audience: Junior to mid-level policy makers in central banks and finance ministries who have policy responsibilities related to capital flow management and liberalization.
- Qualifications: Participants are expected to have an advanced degree in economics or equivalent experience, good quantitative skills, and a basic knowledge of Microsoft Excel.
- Pre-requisites: Not applicable.

### Course logistics
- Session No.: CT 26.08
- Location: Shenzhen, China
- Date: June 8-17, 2026 (2 weeks)
- Delivery Method: In-person Training
- Primary Language: English
- Status: Deadline passed

### Course description — scope and structure
- Aim: Foster understanding of the dynamics of capital flows and their effects on economic growth, macroeconomic volatility, and risk of crisis.
- Initial module: Refresher on balance of payments statistics and a description of alternative measures of capital flows and financial (capital) account openness.
- Determinants and links: Introduction to the determinants of capital flows and the link between these flows and economic growth, macroeconomic volatility, and crisis risk.
- Liberalization sequencing: Discussion of sequencing capital account liberalization to reap the benefits of capital market integration while minimizing and mitigating its adverse effects.
- Analytical tools: Coverage of analytical methods and data sources for the analysis and forecasting of capital flows.
- Institutional framework: Discussion of the IMF's Institutional View on capital flows and how it relates to macroeconomic policy, macroprudential measures, capital flow management tools, and exchange rate intervention.
- Case studies and exercises: Case studies of actual crises to illustrate how policy setting and failure to recognize and address the buildup of vulnerabilities led to crisis; practical workshop exercises and discussions to solidify understanding of lecture material.

### Learning objectives — expected competencies on completion
- Identify the financial and economic risks that a global capital market creates for both small and large economies.
- 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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## References

- [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [Core Elements of Banking Supervision (CBS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/cbsat27-10)
- [Advanced Government Finance Statistics (GFS-A)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/gfs-ace26-45)
- [Fiscal Sustainability (FS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/fsce26-38)
- [Safeguards Assessments of Central Banks (SAC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/sacat26-30)
- [Macroeconomic Management in Resource Rich Countries (MRC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/mrcce26-44)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2026/mcfct26-08_