{
  "title": "Monetary and Capital Markets Department: Technical Assistance Handbook",
  "sourceUrl": "https://www.imf.org/en/publications/miscellaneous-publications/issues/2022/01/18/monetary-and-capital-markets-department-technical-assistance-handbook",
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  "summary": "An online handbook to guide technical assistance providers and practitioners on: monetary and foreign exchange policy and operations; Central Bank accounting, audit, governance and risk management; financial market infrastructures and payments; and specific issues for resource-rich low-income countr",
  "sections": [
    {
      "heading": "Purpose (Why?)",
      "content": "- Distill, document and make widely available lessons learnt from MCM technical assistance (TA) over a long period of time while incorporating lessons learnt globally.\n- Highlight and promote good practices and support the consistency of MCM’s advice.\n- Recognize that one size solutions can not fit all; all advice needs to be tailored to country-specific circumstances.\n- Target challenges faced by authorities in emerging and low-income countries and in countries that manage substantial natural resource wealth."
    },
    {
      "heading": "Scope and Content (What?)",
      "content": "- The handbook comprises self-contained, issue-specific chapters with cross-references on overlapping issues where needed.\n- Chapters will be added as they are available and may be updated as new lessons come to light.\n- This handbook covers the following broad topics:\n  - Monetary policy frameworks and transitions,\n  - Forecasting and Policy Analysis Systems (FPAS),\n  - Effective policy communications\n  - Operational frameworks\n  - Foreign exchange operations and intervention strategies\n  - Financial market development,\n  - International reserves management,\n  - Central bank governance and risk management,\n  - Cash currency management\n  - Central bank accounting, audit, and finances"
    },
    {
      "heading": "Audience (Who for?)",
      "content": "- Targeted at those who provide TA on the identified issues (both IMF and non-IMF personnel).\n- Targeted at practitioners in central banks and other relevant institutions.\n- Individual chapters of the handbook are published on this website as soon as they become available."
    },
    {
      "heading": "Publication and Access",
      "content": "- Page listing shows: May 2026.\n- Related IMF publications and dates visible on the landing page include:\n  - World Economic Outlook — Global Economy in Crosscurrents of War and Technology — July 8, 2026\n  - Global Financial Stability Report — Global Financial Markets Confront the War in the Middle East and Amplification Risks — April 14, 2026\n  - Fiscal Monitor — Fiscal Policy under Pressure: High Debt, Rising Risks — April 15, 2026\n  - Annual Report of the Executive Board — Getting to Growth in an Age of Uncertainty — September 24, 2025\n\nMonetary and Capital Markets Department: Technical Assistance Handbook — May 2026. International Monetary Fund.\n\n---\n\n Content in this bundle\n\n- Central Bank Communications\n  - Central Bank Communications (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Central Bank Communications (PDF){rel=\"external\" type=\"application/pdf\"}\n- choice-of-exchange-rate-arrangement\n  - choice-of-exchange-rate-arrangement (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - choice-of-exchange-rate-arrangement (PDF){rel=\"external\" type=\"application/pdf\"}\n- Liquidity Forecasting—Part II: The Statistical Component\n  - Liquidity Forecasting—Part II: The Statistical Component (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Liquidity Forecasting—Part II: The Statistical Component (PDF){rel=\"external\" type=\"application/pdf\"}\n- Reserverequirements\n  - Reserverequirements (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Reserverequirements (PDF){rel=\"external\" type=\"application/pdf\"}\n- Transitioningoperationaltargets\n  - Transitioningoperationaltargets (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Transitioningoperationaltargets (PDF){rel=\"external\" type=\"application/pdf\"}\n- ta-handbook-chapter-foreign-exchange-reference-rates\n  - ta-handbook-chapter-foreign-exchange-reference-rates (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - ta-handbook-chapter-foreign-exchange-reference-rates (PDF){rel=\"external\" type=\"application/pdf\"}\n- Liquidity Forecasting—Part I: The Institutional Arrangements\n  - Liquidity Forecasting—Part I: The Institutional Arrangements (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Liquidity Forecasting—Part I: The Institutional Arrangements (PDF){rel=\"external\" type=\"application/pdf\"}\n- Repo Market Development — IMF | MCM Technical Assistance Handbook\n  - Repo Market Development — IMF | MCM Technical Assistance Handbook (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Repo Market Development — IMF | MCM Technical Assistance Handbook (PDF){rel=\"external\" type=\"application/pdf\"}\n- ta-handbook-chapter-2026-jun-foreign-reserves-management-part-i\n  - ta-handbook-chapter-2026-jun-foreign-reserves-management-part-i (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - ta-handbook-chapter-2026-jun-foreign-reserves-management-part-i (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.\n- Modify your profile\n- https://www.imf.org/en/publications/weo\n- Global Economy in Crosscurrents of War and Technology\n- https://www.imf.org/en/publications/gfsr\n- Global Financial Markets Confront the War in the Middle East and Amplification Risks\n- https://www.imf.org/en/publications/fm\n- Fiscal Policy under Pressure: High Debt, Rising Risks\n- https://www.imf.org/en/publications/reo\n- Asia and Pacific\n- Europe\n- Middle East and Central Asia\n- Sub-Saharan Africa\n- Western Hemisphere\n- https://www.imf.org/en/publications/areb\n- Getting to Growth in an Age of Uncertainty\n- More Publications\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/publications/miscellaneous-publications/issues/2022/01/18/monetary-and-capital-markets-department-technical-assistance-handbook"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/miscellaneous-publications/issues/2022/01/18/monetary-and-capital-markets-department-technical-assistance-handbook/index.md)",
    "[Structured JSON version](/en/publications/miscellaneous-publications/issues/2022/01/18/monetary-and-capital-markets-department-technical-assistance-handbook/index.json)",
    "[Bundle manifest](/en/publications/miscellaneous-publications/issues/2022/01/18/monetary-and-capital-markets-department-technical-assistance-handbook/bundle-manifest.json)",
    "Published: May 13, 2026",
    "Distill, document and make widely available lessons learnt from MCM technical assistance (TA) over a long period of time while incorporating lessons learnt globally.",
    "Highlight and promote good practices and support the consistency of MCM’s advice.",
    "Recognize that one size solutions can not fit all; all advice needs to be tailored to country-specific circumstances.",
    "Target challenges faced by authorities in emerging and low-income countries and in countries that manage substantial natural resource wealth.",
    "The handbook comprises self-contained, issue-specific chapters with cross-references on overlapping issues where needed.",
    "Chapters will be added as they are available and may be updated as new lessons come to light.",
    "This handbook covers the following broad topics:",
    "Targeted at those who provide TA on the identified issues (both IMF and non-IMF personnel).",
    "Targeted at practitioners in central banks and other relevant institutions.",
    "Individual chapters of the handbook are published on this website as soon as they become available.",
    "Page listing shows: May 2026.",
    "Related IMF publications and dates visible on the landing page include:",
    "**Central Bank Communications**",
    "**choice-of-exchange-rate-arrangement**",
    "**Liquidity Forecasting—Part II: The Statistical Component**",
    "**Reserverequirements**",
    "**Transitioningoperationaltargets**",
    "**ta-handbook-chapter-foreign-exchange-reference-rates**",
    "**Liquidity Forecasting—Part I: The Institutional Arrangements**",
    "**Repo Market Development — IMF | MCM Technical Assistance Handbook**",
    "**ta-handbook-chapter-2026-jun-foreign-reserves-management-part-i**",
    "[Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.](https://www.imf.org/en/email-subscription/index)",
    "[Modify your profile](https://www.imf.org/en/email-subscription/login)",
    "[https://www.imf.org/en/publications/weo](https://www.imf.org/en/publications/weo)",
    "[Global Economy in Crosscurrents of War and Technology](https://www.imf.org/en/publications/weo/issues/2026/07/08/world-economic-outlook-update-july-2026)",
    "[https://www.imf.org/en/publications/gfsr](https://www.imf.org/en/publications/gfsr)",
    "[Global Financial Markets Confront the War in the Middle East and Amplification Risks](https://www.imf.org/en/publications/gfsr/issues/2026/04/14/global-financial-stability-report-april-2026)",
    "[https://www.imf.org/en/publications/fm](https://www.imf.org/en/publications/fm)",
    "[Fiscal Policy under Pressure: High Debt, Rising Risks](https://www.imf.org/en/publications/fm/issues/2026/04/15/fiscal-monitor-april-2026)",
    "[https://www.imf.org/en/publications/reo](https://www.imf.org/en/publications/reo)",
    "[Asia and Pacific](https://www.imf.org/en/publications/reo/apac)",
    "[Europe](https://www.imf.org/en/publications/reo/eu)",
    "[Middle East and Central Asia](https://www.imf.org/en/publications/reo/meca)",
    "[Sub-Saharan Africa](https://www.imf.org/en/publications/reo/ssa)",
    "[Western Hemisphere](https://www.imf.org/en/publications/reo/wh)",
    "[https://www.imf.org/en/publications/areb](https://www.imf.org/en/publications/areb)",
    "[Getting to Growth in an Age of Uncertainty](https://www.imf.org/en/publications/areb/issues/2025/09/24/annual-report-2025)",
    "[More Publications](https://www.imf.org/en/publications)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
  ],
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      "title": "Central Bank Communications",
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      "title": "choice-of-exchange-rate-arrangement",
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    {
      "title": "Liquidity Forecasting—Part II: The Statistical Component",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/miscellaneous/english/2022/mcm-technical-assistance-handbook/liquidity-forecasting-part-ii.pdf",
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