Courses Offered Under the Auspices of IMF-Singapore Regional Training Institute (STI) 2013/Singapore

January 14, 2013 BLGF MEMORANDUM CIRCULAR NO. 007-13 TO : All Central and Regional Directors of This Bureau, and All Others Concerned SUBJECT : Courses Offered Under the Auspices of IMF-Singapore Regional Training Institute (STI) 2013/Singapore For the information and guidance of all concerned, attached is a copy of the Memorandum dated January 3, 2013 of Director Lourdes Z. Santiago, Central Administration Office and Head, PCDC Secretariat, inviting this Bureau to nominate candidates to the courses mentioned therein. The Central and Regional Directors of this Bureau are hereby instructed to take note of the above and disseminate the contents of this Circular to Bureau Staff and others concerned. For further details, please contact Edna M. Morfe or Hazel L. Gampay, at Administration Division, BLGF Manila, at 527-28-03 or email at [emailprotected]. Be guided accordingly. (SGD.) SALVADOR M. DEL CASTILLO OIC-Executive Director ATTACHMENT Republic of the Philippines Department of Finance Roxas Boulevard Corner Pablo Ocampo, Sr. Street Manila 1004 MEMO FOR : All Heads of DOF Offices/Bureaus and Attached Agencies ATTENTION : Scholarship Committee DATE : January 3, 2013 FROM : Director Lourdes Z. Santiago Head, PCDC Secretariat SUBJECT : Courses Offered under the Auspices of IMF-Singapore Regional Training Institute (STI) 2013/Singapore This is to inform that this Department has been invited by the IMF-STI to nominate candidate/s to each of the following courses: A. Macroeconomic Management for Senior Officials (ST 13.52) May 27-31, 2013 This one-week course addresses the key macroeconomic issues facing policy-makers, with particular reference to Asian and Pacific countries. A series of lectures designed to encourage debate and discussion covers such subjects as strategies for enhancing economic growth, inflation targeting and other approaches to monetary and exchange rate policy, fiscal and external sustainability, and macroeconomic and financial surveillance. Linkages across macroeconomic sectors are also discussed, and there is a demonstration of financial programming for a case study country in the region. Selected country case studies are introduced and discussed to illustrate the broad themes presented in the lectures. Target audiences are senior officials, division managers and supervisors of economic staff in central banks, ministries of finance and economy, and relevant planning agencies with experience with economic policy-making, and who oversee the work of economists. Officials whose subordinates have attended courses in financial programming or macroeconomic management are especially encouraged to apply. Participants are expected to have a degree in economics or a related field. Deadline for online application to IMF-STI is on 11 January 2013 . B. Macroeconomic Forecasting (ST 13.08) June 03-14, 2013 This two-week course aims to strengthen participants' macroeconomic forecasting and modeling skills through the application of modern econometric techniques. Lectures are designed to include a discussion of underlying theory, live presentations of empirical analyses on a personal computer, and hands-on learning by participants in a computer lab. The course focuses on four aspects of empirical model building and forecasting: data and model properties, including non-stationary and co-integration; dynamic specification, including the use of error correction models; model evaluation and model design; forecast uncertainty, forecasting for policy, and policy analysis; and combination forecast. Target audience are mid- to senior-level officials involved in developing forecasts that are used in the design and implementation of macroeconomic policy. Participants should have an advanced degree in economics or equivalent experience. They should also be comfortable using software for econometric applications such as EViews. Deadline for online application to IMF-STI is on 25 January 2013. C. Monetary and Exchange Rate Policy (ST 13.10) Jul 01-12, 2013 This two-week course introduces participants to the different types of monetary policy strategies and exchange rate arrangements that countries may choose, emphasizing that the two choices must be mutually consistent. It addresses the factors relevant for the choices, and the consequences for these choices. Target audiences are mid- to senior-level officials involved in monetary and exchange rate policy-making. Participants should have an advanced degree in economics or equivalent experience. Deadline for online application to IMF-STI is on 01 February 2013 . D. Macroeconomic Implications of Fiscal Issues (ST 13.53) Jul 15-26, 2013 This two-week course aims to give participants a more extensive exposure to fiscal issues and the macroeconomic effects of fiscal policy than is possible in a normal, two-week course on financial programming and policies. Separate lectures are devoted to fiscal accounts and analysis, issues in tax policy and administration, expenditure issues, fiscal forecasting, fiscal sustainability, interrelations between the fiscal sector and the rest of the economy, and the fiscal dimension in financial programming. There are also presentations on selected fiscal issues of current interest. Target audience are junior officials from both ministries of finance and central banks who would benefit from a broader understanding of macroeconomic dimensions of fiscal policy issues. Participants are expected to have a degree of economics or a related field, experience in macroeconomic analysis, and proficiency in MS Excel software. Deadline for online application to IMF-STI is on 15 February 2013 . E. Advanced Course on Monetary and Financial Statistics (ST 13.3) July 22-August 02, 2013 This two-week course is designed to assist officials in the compilation of monetary and financial statistics in accordance with international best practices with a focus on other financial corporations (OFCs). The course material is based on the Monetary and Financial Statistics Manual and Monetary and Financial Statistics: Compilation Guide , and briefly summarizes the principles of economic sectorization, the characteristics and classification of financial instruments, valuation, and other accounting issues that are relevant to the compilation of analytical accounts for the entire financial sector. Target participants are central bank officials responsible for the compilation of monetary statistics. Participants should have a degree in economics, statistics, or the equivalent. Deadline for online application to IMF-STI is on 22 February 2013. F. Macroeconomic Management and Fiscal Policy (ST 13.19) October 07-18, 2013 This two-week course aims at deepening participants' understanding of fiscal policy issues and their implications for macroeconomic management. It covers the interrelations between fiscal variables and macroeconomic aggregates, and the main aspects of the design and implementation of fiscal policy as an instrument to achieve macroeconomic stability and growth. Target audience are mid- to senior-level government officials in ministries of finance, economy, and planning, or in central banks, who provide advice on macroeconomic policies or who are involved in policy implementation. Participants are expected to have an advanced degree in economics or equivalent policy experience. Deadline for online application to IMF-STI is on 10 May 2013 . The airfare, accommodation, health insurance and allowance for living expenses shall be provided by STI. Participants or their sponsoring agencies are responsible for the initial purchase of the participants' round trip airline ticket and for making travel arrangements. Participants will be reimbursed a fixed amount in US dollar travelers' checks for their tickets and related travel expenses upon arrival in Singapore. Online applications can be accessed at www.imf.org/insapply. Please submit your nomination letter together with the nominee's comprehensive resume to the DOF Personnel Career Development Committee Secretariat, PSD on or before the stated due dates, for endorsement to IMF-STI and for monitoring purposes. (SGD.) LOURDES Z. SANTIAGO Director IV, Central Administration Office and Head, PCDC Secretariat STI IMF-Singapore Regional Training Institute (STI) In collaboration with the Government of Singapore, the IMF's Institute for Capacity Development organizes courses for officials from countries in the Asia/Pacific region at the IMF-Singapore Regional Training Institute (STI). This program was inaugurated in 1998. Eligible Countries : Afghanistan, Bangladesh, Bhutan, Brunei Darussalam, Cambodia, China, 1 Fiji, India, Indonesia, Iran, Islamic Republic of, Kiribati, Republic of Korea, Lao People's Democratic Republic, Malaysia, Maldives, Marshall Islands, Federated States of Micronesia, Mongolia, Myanmar, Nepal, Pakistan, Palau, Papua New Guinea, Philippines, Samoa, Singapore, Solomon Islands, Sri Lanka, Thailand, Timor-Leste, Tonga, Tuvalu, Vanuatu, and Vietnam. 2 Selection Process : Courses are either by application or by invitation. Application requirements are described in the section on Administrative Arrangements. For courses by invitation, candidates are nominated by government agencies upon the request of the responsible IMF department. Application : The online application can be accessed at www.imf.org/insapply. Any changes in the course schedule will be posted promptly on the Institute's website. Schedule : The current schedule and a full description of the courses and seminars offered by the IMF's Institute for Capacity Development at STI are available at both www.imfsti.org and the Institute's website www.imf.org/institute . Contact Information : Contact: Mr. Sunil Sharma Director Address: IMF-Singapore Regional Training Institute 10 Shenton Way MAS Building 14-03 Singapore 079117 Singapore Telephone: +65 6225-5311 Fax: +65 6225-6080 E-mail: [emailprotected] For the latest information on the schedule please visit the Institute's website at www.imf.org/institute. Other Training (OT) In addition to providing training at Headquarters and the regional training centers, the IMF's Institute for Capacity Development delivers many shorter courses at the IMF's regional technical assistance centers and various other venues, often in collaboration with other regional training organizations. Courses are offered in Arabic, English, French, Portuguese, and Spanish. To a large extent, the Institute's capacity to deliver this "other training" depends on the availability of financial support from hosts or donors. Courses are generally scheduled to meet regional or sub-regional training needs. Course Descriptions are listed in this catalog. Participation in OT courses is by invitation only. Candidates are nominated by government agencies upon the request for nominations by the responsible IMF Department or regional training partner. Details of location and latest information on the course schedule are made available on the Institute's website www.imf.org/institute as arrangements are finalized. Course Topics and Target Audience Table The Course Topics and Target Audience provide a view of the courses offered grouped by eight major topics. The breakdown is helpful in identifying those subjects that may be of interest to country officials. The Target Audience column provides an overview of the groups of country officials for which each course is most appropriate. Department 1 Topic/Session Title Target Audience Specialized Fiscal Issues FAD Fiscal Institutions and Fiscal Discipline Senior- to mid-level officials in ministries of finance, treasuries, debt management offices, ministries of economies or financial planning divisions in line ministries. FAD Implementing full taxpayer Officials from Anglophone and Francophone self-assessment African Countries. FAD Managing taxpayer compliance in a Senior tax administration officials. self assessment environment FAD Medium-Term Budgetary Frameworks, Mid- to senior-level officials involved in fiscal Fiscal Rules and Fiscal Councils- policy decisions. Options to Ensure Fiscal Sustainability FAD Reforming Fuel Subsidies Policymakers and technical staff. FAD Treasury Management Several years experience of working in a treasury department. Safeguards Assessments FIN Safeguards Assessments of Central Banks Senior central bank staff responsible for accounting, financial reporting, auditing, risk management, internal control, statistics, legal, or reserve management operations, or serving on a board or committee covering the oversight of audit, investment, or financial reporting activities. Forecasting and Macroeconomic Modeling ICD Macroeconomic Forecasting Mid- to senior-level officials involved in developing forecasts that are used in the design and implementation of macroeconomic policy. ICD Macro-Fiscal Modeling and Analysis (i) Mid- to senior-level officials involved in fiscal policy decisions who have already attended the Macroeconomic Management and Fiscal Policy (MFP) course and/or have a strong analytical background in fiscal policy; (ii) Junior staff involved in preparation of analytical documents on fiscal policy issues. ICD The Use of DSGE Models in the Mid- to senior-level officials involved in the Policy-Making Process macroeconomic analysis of monetary and fiscal policy issues with dynamic stochastic general equilibrium (DSGE) models. Financial Sector Issues MCM Banking Supervision Mid-level bank supervisors. ICD Core Elements of Banking Supervision Bank supervisors. ICD Economic and Monetary Integration Mid- to senior-level officials in central banks and ministries of finance of countries that take part in a regional integration arrangement or that are exploring or planning the creation of such an arrangement. ICD Economic Policies for Financial Stability Mid- to senior-level officials in central banks, finance ministries, and regulatory agencies who are involved in the formulation of macroeconomic and financial policies. MCM Effective public debt management Mid to senior-level government officials, strategies in a world of sovereign assets monetary authorities and other public sector officials with responsibility for debt management policies and decisions and/or oversight and management responsibility of key sovereign asset portfolios. This includes staff with policy/operational responsibilities in monitoring and managing sovereign liabilities, including the negotiation of loans and issuance of debt securities in both domestic/international capital markets. ICD Finance for Macroeconomists Mid- to senior-level officials in central banks, ministries of finance, and regulatory agencies who are interested in examining the role and functions of financial markets and institutions, and their linkages to the macroeconomy. ICD Financial Market Analysis Junior- to mid-level officials in central banks, ministries of finance, and regulatory agencies who are interested in the fundamentals of financial analysis as part of the toolkit of policymakers. ICD Financial Markets and New Financial Junior- to mid-level officials in central banks, Instruments ministries of finance, and regulatory agencies who are interested in the fundamentals of financial analysis as part of the toolkit of policymakers. MCM Financial Stability, Systemic Risk and Officials from central banks or ministries of Macro-prudential policy finance working on financial stability or research and financial regulators. ICD Macro-Financial Surveillance Mid- to senior-level officials in central banks, ministries of finance, and regulatory agencies. ICD Macro-Prudential Polices Central bank economists and government agency economist and regulators with macroeconomic and supervisory responsibilities. MCM Macro-Stress Testing Mid- to senior-level officials working in the banking supervision or financial stability departments/units of central banks or banking supervisory authorities. MCM Monetary Operations and Liquidity Mid- to senior-level officials at central Management banks. ICD Mortgage Markets and Financial Stability Senior officials from central banks, regulatory agencies, and finance ministries who deal with capital market development, financial regulation and supervision, and financial market surveillance. MCM Selected Issues in the Evolving Financial Officials from central banks, ministries of Regulatory Framework finance and regulatory agencies involved in financial regulation and/or financial stability analysis. MCM Sovereign Liability and Risk Management Mid- to senior-level debt managers, central Principles and Practices bankers, and related officials with policy and operational responsibilities relating to monitoring and managing sovereign liabilities, debt, and the development and functioning of domestic debt markets. Financial Programming and Policies ICD Financial Programming and Policies Mid-level officials providing advice on macroeconomic and financial policies or involved in policy implementation (course requires substantial background). ICD Financial Programming and Policies- Senior officials from central banks and Inflation Targeting ministries of finance and economy who provide advice on macroeconomic and financial policy or who are involved in policy implementation; focusing on inflation targeting (IT) strategy and monetary transmission. ICD Financial Programming and Policies Mid-level officials providing advice on Through Distance Learning macroeconomic and financial policies or involved in policy implementation; this course focuses more on accounts, analysis and core forecasting and financial programming skills than the 4-week course. Macroeconomic Policies ICD External Vulnerabilities and Policies Mid- to senior-level officials from central banks and government agencies involved in the design and implementation of policies that have an impact on the soundness of their country's external position. ICD External Vulnerabilities Early Mid- to senior-level officials from central Warning Exercise banks and government agencies dealing with the assessment of external vulnerabilities and other macroeconomic risks. ICD Macroeconomic Diagnostics Mid- to senior-level officials in central banks and ministries of finance or economy directly involved in diagnosing the state of the macroeconomy and making projections. ICD Macroeconomic Implications of Junior officials from both ministries of finance Fiscal Issues and central banks who would benefit from a broader understanding of the macroeconomic dimensions of fiscal policy issues. ICD Macroeconomic Management and Mid- to senior-level officials, preferably from Debt Issues ministries of finance, debt agencies, or central banks, who provide advice on or implement macroeconomic and debt policies. ICD Monetary and Exchange Rate Policy Mid- to senior-level officials involved in monetary and exchange rate policy-making. ICD Macroeconomic Management and Mid- and senior-level officials involved in Financial Sector Issues formulation and implementation of policies for the financial sector or interaction of these policies with macroeconomic management. ICD Macroeconomic Management and Mid- to senior-level government officials in Fiscal Policy ministries of finance, economy, and planning, or in central banks, who provide advice on macroeconomic policies or who are involved in policy implementation. ICD Macroeconomic Management and Mid- to senior-level officials from central Natural Resource Management banks, ministry of finance and other relevant government agencies involved in the design and execution of policies in resource- rich countries. ICD Macroeconomic Management for Senior Senior officials, division managers and Officials supervisors of economic staff in central banks, ministries of finance and economy, and relevant planning agencies with experience in economic policy-making, and who oversee the work of economists. Officials whose subordinates have attended courses in financial programming or macroeconomic management are especially encouraged to apply. ICD Monetary Policy Analysis i) Mid- to senior-level officials involved in monetary policy decision making that relies partly/predominantly on model-based framework; and (ii) staff involved in operating macroeconomic models. Legal Issues LEG AMLCFT Methodology for the New Officials responsible for AML/CFT Standard matters. LEG Central Banking and Financial Sector Public sector lawyers who are involved in Legal Frameworks central banking, oversight of financial market infrastructures, financial sector regulation/ supervision, bank resolution, and crisis management or Lawyers from transition and emerging market economies who are involved in central banking, oversight of financial market infrastructures, financial sector regulation/supervision, bank resolution, and crisis management. LEG Legal Aspects of International Financial Senior lawyers from countries with emerging Institutions market economies who are responsible for legal aspects of their countries' current or prospective membership in international financial institutions. LEG Workshop on Corporate and Household Senior policy makers from European countries Insolvency who are responsible for corporate and household insolvency law and related issues. Macroeconomic Statistics STA Balance of Payments Statistics Compilers of BPS, not BOP analysts. Employing agency should be compiling authority and official correspondent of the Fund. STA Balance Sheets and Accumulation Compilers of national accounts and financial Accounts accounts statistics. STA External Debt Statistics Officials whose main responsibility is the compilation of external debt statistics. STA Financial Soundness Indicators Officials at central banks and supervisory agencies for the financial sector who are involved in the collection, compilation, and analysis of financial soundness indicators. STA Government Finance Statistics Officials whose main responsibility is compiling public finance statistics. STA Linkages between the Government Central bank officials responsible for the Finance Statistics Manual and the System compilation of monetary statistics. of National Accounts STA Introductory Course on Monetary and Mid- to senior-level government officials in Financial Statistics ministries of finance, economy, and planning, or in central banks, who are involved in the analysis, provision of advice, and implementation of macroeconomic policy. STA Monetary and Financial Statistics Central bank officials responsible for the compilation of monetary statistics. STA Advanced Course on Monetary and Central bank officials responsible for the Financial Statistics compilation of monetary statistics. STA National Accounts Statistics Compilers of national accounts statistics employed by agencies responsible for official national accounts data. STA Price Statistics Mid- to senior-level officials responsible for and have direct experience of compiling at least one of the following price indices: the consumer price index (CPI), the producer price index (PPI), or export and import price indices (XMPIs). STA Public Sector Debt Statistics Officials whose main responsibility is compiling public sector debt statistics. STA Quarterly National Accounts National accounts compilers. STA Reserves Statistics Officials whose main responsibility is compiling balance of payments and/or international investment position statistics. STA The System of Macroeconomic Mid- to senior-level government officials in Accounts Statistics and the Linkages ministries of finance, economy, and planning, or in central banks, who are involved in the analysis, provision of advice, and implementation of macroeconomic policy. Footnotes 1. Includes Hong Kong SAR and Macao SAR. 2. Officials from Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, Uzbekistan, and small non-member Pacific Island countries may be invited to selected courses. Course Topics and Target Audience Table 1. Please note the following IMF Departments abbreviations: Fiscal Affairs (FAD); Finance (FIN); IMF Institute for Capacity Development (ICD); Legal (LEG); Monetary and Capital Markets (MCM); Statistics (STA).