IMF and In­dia set up re­gional train­ing and tech­ni­cal as­sis­tance cen­ter

The Pak Banker - - COMPANIES/BOSS -

Ms. Chris­tine La­garde, Man­ag­ing Di­rec­tor of the In­ter­na­tional Mon­e­tary Fund (IMF), and Min­is­ter Arun Jait­ley agreed to­day to es­tab­lish a ca­pac­ity de­vel­op­ment cen­ter in New Delhi. "I would like to thank Prime Min­is­ter Modi, Min­is­ter Jait­ley and the In­dian Govern­ment for of­fer­ing to host the cen­ter and for their sub­stan­tial fi­nan­cial com­mit­ment," Ms La­garde said. "This will be the first cen­ter that fully in­te­grates train­ing and tech­ni­cal as­sis­tance and is a model for our fu­ture ca­pac­ity de­vel­op­ment work."

The South Asia Re­gional Train­ing and Tech­ni­cal As­sis­tance Cen­ter (SARTTAC) is ex­pected to be­come the fo­cal point for plan­ning, co­or­di­nat­ing, and im­ple­ment­ing the IMF's ca­pac­ity de­vel­op­ment ac­tiv­i­ties in the re­gion on a wide range of ar­eas, in­clud­ing macroe­co­nomic and fis­cal man­age­ment, mon­e­tary op­er­a­tions, fi­nan­cial sec­tor regulation and su­per­vi­sion, and macroe­co­nomic sta­tis­tics.

The Cen­ter will help ad­dress ex­ist­ing train­ing needs and re­spond to the de­mand for IMF train­ing in In­dia, Bangladesh, Bhutan, Mal­dives, Nepal, and Sri Lanka, while bring­ing the re­gion's train­ing vol­ume on par with those of other re­gions.

"I would also like to ex­press my ap­pre­ci­a­tion to the other mem­ber coun­tries for join­ing with In­dia, the IMF, and part­ners like Aus­tralia and the Re­pub­lic of Korea, in mak­ing this ex­cit­ing ini­tia­tive hap­pen." The sign­ing of this Mem­o­ran­dum of Un­der­stand­ing rep­re­sents a key step to­ward a fully in­te­grated ca­pac­ity de­vel­op­ment cen­ter in New Delhi, and demon­strates the shared com­mit­ment be­tween the IMF and its mem­ber­ship in us­ing tech­ni­cal as­sis­tance and train­ing as ve­hi­cles for eco­nomic sta­bil­ity and in­clu­sive growth.

SARTTAC will of­fer cour­ses and sem­i­nars for pol­i­cy­mak­ers and other govern­ment agen­cies from the six afore­men­tioned coun­tries. It will build upon the IMF's in-depth ex­pe­ri­ence with ca­pac­ity de­vel­op­ment by draw­ing on the ex­pe­ri­ences of the IMF's Re­gional Tech­ni­cal As­sis­tance Cen­ters and Re­gional Train­ing Cen­ters, which have a proven track record of de­liv­er­ing tech­ni­cal as­sis­tance on eco­nomic in­sti­tu­tion build­ing.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.