Closing Remarks Navigating the Economic Obstacle Course while Addressing Long-Term Challenges: The Role of IMF Capacity Development
IMF News, April 28, 2022
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Bibliographic details
- Published: April 28, 2022
Summary of the event and remarks
- Speaker: Gita Gopinath.
- Title of remarks: Closing Remarks at the IMF's Third Capacity Development Dialogue "Navigating the Economic Obstacle Course while Addressing Long-Term Challenges: The Role of IMF Capacity Development".
- Date: April 28, 2022.
- Core message: continued dialogue and partnership to strengthen institution-building, resilience, inclusivity, and to address long-term challenges through IMF capacity development (CD).
Key findings and themes
- Institution-building is critical as policymakers respond to ongoing, multi-pronged shocks while managing unprecedented uncertainty and risks.
- Addressing scarring effects from the pandemic and pursuing transformational reforms are central to achieving a resilient and inclusive future.
- Capacity development acts as an antidote to fragmentation by sharing knowledge, expertise, and creating bonds between experts across countries to tackle common policy challenges.
- Reinforcing existing partnerships and building new ones is essential to maintain global macroeconomic and financial stability and to secure a sustainable and inclusive recovery.
- Widespread concern was noted about the future of multilateralism and fragmentation (as heard at the Spring meetings).
Policy priorities and IMF CD commitments
- Continue to help develop more robust public financial management systems.
- Continue to improve revenue mobilization.
- Continue to strengthen monetary and exchange rate policy frameworks, bank supervision and governance.
- Continue to support transformative policy actions addressing longer-term challenges, including:
- inequality,
- fragility,
- digitalization,
- climate change.
Role of partnerships and CD modalities
- CD is framed as a mechanism to counter fragmentation by:
- sharing knowledge and expertise,
- creating new bonds and relationships between experts across countries,
- tackling common policy challenges collaboratively.
- Ongoing dialogues with country staff and steering committee meetings of thematic funds and regional capacity development centers help improve CD engagement and modalities.
Event and contact details
- Organized by: IMF Communications Department.
- Media relations:
- PRESS OFFICER:
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
- Twitter: @IMFSpokesperson
Closing and next steps
- Appreciation expressed to participants and their staff for contributions that will inform the direction and modalities of future CD activities.
- Commitment to continued support and partnership; anticipation of reconvening at the next Annual Meetings.
- Formal close: "The meeting is now closed, thank you."
Closing Remarks at the IMF's Third Capacity Development Dialogue, April 28, 2022.