Courses Offered under the Auspices of IMF-Singapore Regional Training Institute (IMF-STI) 2014/Singapore

October 23, 2013 BLGF MEMORANDUM CIRCULAR NO. 102-13 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 (IMF-STI) 2014/Singapore For the information and guidance of all concerned, attached is a copy of the Memorandum dated October 16, 2013 of Director Lourdes Z. Santiago, Central Administration Office, Department of Finance and Head, PCDC Secretariat, regarding the invitation of the IMF-STI to nominate candidates to their 2014 courses. The Central and Regional Directors of this Bureau are hereby instructed to take note of the above Memorandum and disseminate the contents thereof to Bureau Staff and others concerned. Be guided accordingly. (SGD.) SALVADOR M. DEL CASTILLO OIC-Executive Director ATTACHMENT Department of Finance MEMO FOR : All Heads of DOF Offices/Bureaus and Attached Agencies DATE : October 16, 2013 FROM : Director Lourdes Z. Santiago Head, PCDC Secretariat SUBJECT : Courses Offered under the Auspices of IMF-Singapore Regional Training Institute (STI) 2014/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: aCcSDT A. Macroeconomic Management and Financial Sector Issues (ST 14.05) May 5-16, 2014 This two-week course examines the policy dilemmas confronting authorities in developing and emerging market economies, and the options available to policymakers, with special attention to how financial sector issues interact with macroeconomic management. The course covers a number of key macroeconomic topics, such as stabilizations and growth, fiscal and external debt sustainability, frameworks for monetary policy, choice of the exchange rate regime, and international capital flows. It also addresses financial sector topics, such as the role of the financial sector in the economy, the relationship between the financial fragility and macroeconomic stability, financial sector policies, and policies to address financial crises. The course content is differentiated to better address issues relevant to different regions. Target audience are mid- to senior-level officials involved in formulation and implementation policies for financial sector or interaction of these policies with macroeconomic management. Participants should have an advanced degree in economics or equivalent experience. Deadline of online application is on 06 December 2013 . B. Macroeconomic Management for Senior Officials (ST 14.52) May 26-30, 2014 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. Participants are expected to have a degree in economics or a related field, or experience with economic policy-making, and be overseeing the work of economists. Officials whose subordinates have attended courses in financial programming or macroeconomic management are especially encouraged to apply. EIDATc Deadline for online application is on 27 December 2013 . C. Financial Market Analysis (ST 14.04) June 2-13, 2014 This two-week course introduces participants to the fundamentals of financial analysis that are part of the toolkit of policymakers. These tools are used to study the characteristics of various financial instruments and their pricing, as well as to analyze portfolios of assets and the basics of risk management. Topics include: bond pricing and volatility duration and convexity; term structure of interest rates; equity pricing; asset allocation and diversification; and value at risk. Target audience are 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. Participants are expected to have an advanced degree in economics or equivalent experience. No background in finance is assumed, but participants must have some familiarity with basic techniques in statistics and probability. It is essential that participants be able to use Microsoft Excel. Deadline for online application is on 02 January 2014 . D. Monetary and Exchange Rate Policy (ST 14.08) June 30-July 11, 2014 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 is on 31 January 2014 . E. Fiscal Analysis and Forecasting (ST 14.53) July 14-25, 2014 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, fiscal forecasting, fiscal sustainability, interrelations between the fiscal sector and the rest of the economy, and the fiscal dimension in financial programming. Target audience are junior officials from both ministries of finance and central banks who would benefit from a broader understanding of the macroeconomic dimensions of fiscal policy issues. Participants are expected to have a degree in economics or a related field, experience in macroeconomic analysis, and proficiency in Microsoft Excel. AHCTEa Deadline for online application in on 14 February 2014 . F. Introductory Course on Monetary and Financial Statistics (ST 14.09) July 14-25, 2014 This two-week course is designed to assist officials in the compilation of monetary statistics in accordance with international best practices. The course materials are based on the Monetary and Financial Statistics Manual and the Monetary and Financial Statistics: Compilation Guide . The course discusses 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 central bank, other depository corporations and the entire depository corporations sector. Target participants are central bank officials responsible for the compilation of monetary statistics and have an advanced degree in economics, statistics, or equivalent experience. Deadline for online application is on 14 February 2014 . G. Modernizing Treasury Management in Developing Countries July 28-Aug. 1, 2014 This one-week course, deals with the development of key features of modern treasury management in developing countries. Topics covered will range from rationale and structure of the treasury single account, use of general ledger and zero-balanced accounts, centralized versus decentralized payment and collection systems, cost-efficient use of central and commercial bank transaction services, and linkages between accounting and payment processes, design of the chart of accounts, and government integrated financial management information systems. In addition, the course will go into the basic approaches to cash planning, active versus passive cash management, basic issuance strategies, and coordination between cash and debt management. Target audience are senior- to mid-level treasury officials and officers from central government in the Asia/Pacific Region. Participants are expected to have five to ten years of work experience in a ministry of finance or finance department of a major line ministry, presently employed in the state treasury with degree (preferably advanced) in economics, finance, or accounting. Deadline for online application is on 28 February 2014 . H. Macroeconomic Forecasting (ST 14.11) August 4-15, 2014 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 five aspects of empirical model building and forecasting, such as: data and model properties, including stationarity, non-stationarity 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. aITDAE Deadline for online application is on 07 March 2014 . I. Macroeconomic Management and Fiscal Policy (ST 14.15) October 6-17, 2014 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. Deadline for online application is on 09 May 2014 . J. Sovereign Asset Management: Framework for Strategic Asset Allocation (ST 14.19) November 24-29, 2014 This one-week course addresses issues pertaining to how countries link policy objectives, and macroeconomic and institutional constraints in the management of sovereign foreign assets. The emphasis is placed on the determination of a framework for sovereign strategic asset allocation and investment policies as well as identifying and managing the associated risks. The course focuses on how best to formulate sovereign asset management objectives in the context of changing economic circumstances and the needed coordination between asset and debt management policies. Target participants are mid- to senior-level officials who are actively engaged in managing sovereign assets and risk-management functions at central banks and other institutions entrusted with management of assets such as sovereign wealth funds (SWFs) as well as staff in charge of sovereign liabilities. Participants should be experienced practitioners from central banks and SWFs with relevant background in designing and implementing policies for the management of sovereign assets and liabilities. Deadline for online application is on 27 June 2014 . The airfare, accommodation 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/insaply . The Sponsor's Certification Form may be downloaded from the web: www.imfsti.org . 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 monitoring purposes. cCESaH (SGD.) LOURDES Z. SANTIAGO Director IV, Central Administration Office and Head, PCDC Secretariat