IMF Capacity Development

The International Monetary Fund remains fully committed to providing capacity development in the financial sector area in an agile and flexible manner. The annual Financial Sector Stability Fund (FSSF) Steering Committee took place in Bern, Switzerland, on July 9, to discuss the progress achieved in the last full year under Phase I – fiscal year 2024 – and the outlook for full operations under Phase II. An updated work plan was officially endorsed by the Steering Committee members, which will help the FSSF program support member countries in strengthening their financial stability framework thereby increasing their resilience to shocks and enabling their financial sectors to perform their critical functions. We thank the Deputy Governor, Central Bank of Eswatini, for sharing the country’s experience on the work undertaken under the FSSF. With an adjacent event with participants from Swiss financial institutions (Swiss Financial Market Supervisory Authority FINMA, State Secretariat for International Finance SIF, and Swiss National Bank) as well as from the Bank for International Settlements – BIS’s Innovation Hub and IMF’s Creative Lab, participants also discussed how to enhance resilience and to ensure stability in the financial sector and opportunities and challenges of technological innovation.   We thank Switzerland for the organization of this event at this critical juncture and its leadership over the past year as Steering Committee Chair.   We also thank our development partners (China, Germany, Italy, Luxembourg, Saudi Arabia, Sweden, Switzerland, United Kingdom, and European Investment Bank (EIB)) for their candid feedback, support, and strategic guidance to define our priority setting, and look forward to deepening our capacity development partnerships under the new Chair Luxembourg and Vice Chair Germany Bundesministerium der Finanzen. Find out more on FSSF: https://lnkd.in/eEK9fFbQ SECO Economic Cooperation and Development Kawano Shimpei Franziska Spörri

Switzerland, through SECO, hosted the Steering Committee of the Financial Sector Stability Fund. The Fund is crucial to the International Monetary Fund’s (IMF) capacity development on financial stability in low and middle-income countries. 📢 Thanks to the participation of the Schweizerische Nationalbank (SNB), Eidgenössische Finanzmarktaufsicht FINMA, and Staatssekretariat für internationale Finanzfragen SIF, the event provided an opportunity to discuss the roles of central banks, regulatory authorities, and international organizations in ensuring financial stability amid evolving global challenges. The contribution of the Bank for International Settlements – BIS Innovation Hub discussed how technology can support central banks and improve the functioning of the financial system. All in the interest of providing a solid framework for the financial sector, increasing macroeconomic resilience and helping to mitigate the costs of financial crises to achieve sustainable growth and financial inclusion. 📈 A big thank you to all the participants for their active engagement and contributions. Your presence and inputs were essential to the success of this event! 🤝 👉Link to the FSSF page: https://lnkd.in/eEK9fFbQ 👉Link to the SECO factsheet: https://lnkd.in/ekC-StqK

The Steering Committee of the International Monetary Fund’s Regional Technical Assistance Center for Southern Africa (AFRITAC South) met in Maseru, Kingdom of Lesotho, on June 27-28, 2024, under the Chairmanship of Mr. Lehlomela Mohapi, First Deputy Governor of the Central Bank of Lesotho. It discussed strategies for capacity development, the regional outlook for sub-Saharan Africa, the workplan implementation over the past 12 months, and the extensive workplan in the current fiscal year. The Steering Committee Chair stressed that "members commended the Center’s continued efforts to support the region in addressing key policy challenges in improving fiscal sustainability, strengthening financial stability and monetary policy, and improving macroeconomic statistics. The integration of climate risks into workstreams, the opportunities from digitalization, and increased work on gender, governance, and anti-corruption were welcomed. The Center was directed to closely coordinate with IMF teams working on surveillance and lending programs as well as with CD Departments. The committee took note of progress on outcomes across several areas, as well as challenges such as staff turnover within institutions." Read the full press release at https://lnkd.in/eB8h4d7H European Commission SECO Economic Cooperation and Development Federal Ministry for Economic Cooperation and Development (BMZ) Foreign, Commonwealth and Development Office Kawano Shimpei

Hats off to the #IMF for their hard work on behalf of the Trust’s 11 donor countries, including Canada. Today we heard about the range of impactful thematic and country projects that are contributing to helping low capacity countries in their efforts to keep the global financial system safe from illicit funds. Thank you to the United Kingdom for becoming the newest donor, and best wishes to France who take over as the Chair of the Steering Committee, and to the Kingdom of Saudi Arabia who become Vice Chair. Keep up the good work!

Just released: On the occasion of the second edition of the European Union - International Monetary Fund Dialogue on Development, the IMF published the 2024 edition of its publication on the EU-IMF Capacity Development Partnership. You can read it at https://lnkd.in/e3iq7Qf6 European Commission Franck Bousquet Erica Gerretsen Daniel Giorev Fanny Dabertrand Lucie Bartošková Benoît Wiest Demet Cabbar

We gather today with the eleven donor partners of the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Thematic Fund (Canada, France, Germany, Japan, Korea, Luxembourg, Qatar, Saudi Arabia, Switzerland, the Netherlands, and the United Kingdom) to discuss the results of recent capacity development work conducted under the thematic fund and the work plan for the year ahead.    Demand for AML/CFT capacity development remains high, and traction from recipient countries in existing projects is very strong. This year, the thematic fund covered 40 projects reaching 57 countries. Overall, the annual report highlights significant results that were achieved during this fiscal year. Highlights include: - countries de-listing by the Financial Action Task Force (FATF) - comprehensive AML/CFT laws adopted - improved member countries’ structures and tools, such as: stronger risk-based supervision of financial institutions, virtual assets service providers, and designated non-financial businesses and professions; better understanding of domestic and cross border money laundering and terrorism financing risks; enhanced financial intelligence units and frameworks for beneficial ownership transparency; and considering financial integrity issues when designing central bank digital currencies. The workplan for the year ahead continues with deepened engagement with countries through single country projects, while emphasizing the importance of thematic projects that provide more targeted capacity development and can benefit multiple countries on emerging issues. We appreciate donor partners’ financial support to these efforts, and acknowledge this year’s Steering Committee Chair, Jeremy Weil (Senior Director, Financial Crimes Governance and Operations, at Finance Canada / Finances Canada and Vice President of the Financial Action Task Force (FATF)), for his leadership and support. Rhoda Weeks-Brown Luis Urrutia Chady El Khoury Daniela T. Vitaliy Dubil Vamsee Kanchi Franck Bousquet Peter Kunzel Teresa Curristine

I am back in Brussels to continue our deep dive into issues of common interest and cooperation with the European Commission. We just held the second edition of our annual high-level dialogue on development with participants from various Commission and IMF teams. Today's dialogue delved into several key country cases, notably when it comes to scaling-up sustainable infrastructure investments and fortifying climate resilience in (i) Cabo Verde, Tanzania, and Togo on climate issues (ii) Cabo-Verde and Guinea Bissau on infrastructure. We also explored synergies between the EU's Global Gateway initiative and the IMF's capacity development, alongside the Resilience and Sustainability Trust. We thank the European Commission for this close partnership and the EU’s financial support to IMF capacity development (USD 396 million to date), the Catastrophe Containment and Relief Trust (USD 202 million to date), the Poverty Reduction and Growth Trust (USD 103 million to date), and Somalia debt relief. Many thanks to all IMF staff for the excellent work as well ! Williams Oral Justin Tyson Philippe Egoume xiangming li Eva Jenkner Demet Cabbar Peter Kunzel Benoît Wiest Erica Gerretsen Fanny Dabertrand Jose Gijon Stefania Fabrizio Martin Caudron Daniel Giorev Rishi Goyal Giorgia Albertin IMF CCAMTAC CAPTAC-DR Christian Josz Lisandro Abrego Lucie Bartošková Norbert Funke International Monetary Fund IMF Capacity Development

Today in Brussels, the European Commission hosts the second edition of the High-Level European Union (EU) - International Monetary Fund (IMF) Dialogue on Development. This year's theme is "Cultivating Development Impact and Resilience through Capacity Development and Cooperation". Sessions will cover cooperation on infrastructure, climate, gender, fragile and conflict-affected states, and more. In addition to its large financial support to the Catastrophe Containment and Relief Trust (USD 202 million), the Poverty Reduction and Growth Trust (USD 103 million), and Somalia debt relief, the EU is one of the largest donor partners to IMF capacity development, with USD 396 million to date and a recently launched annual high-level dialogue. The EU supports multiple IMF regional capacity development centers worldwide, thematic funds, and bilateral programs to help low- and middle-income countries achieve their development goals. This partnership relies on 4 pillars: collect more, spend better, cooperation in Africa, and cooperation on a global scale. We thank the European Union and its citizens for their generous support. #IMFPartners #IMFCapDev Franck Bousquet Chabert Guillaume Williams Oral Justin Tyson Eva Jenkner xiangming li Philippe Egoume Benoît Wiest Peter Kunzel Martin Caudron Demet Cabbar Marion Muscat Erica Gerretsen Lucie Bartošková Fanny Dabertrand Jose Gijon Daniel Giorev Stefania Fabrizio Rishi Goyal IMF CCAMTAC Norbert Funke Africa Training Institute Giorgia Albertin CAPTAC-DR Christian Josz Lisandro Abrego

Under the recently launched Global Public Finance Partnership, the IMF is providing technical assistance to help strengthen cooperation between Lebanon’s tax and customs administrations. This support seeks to improve trade facilitation while building capacity to tackle tax evasion and fraud. Joshua Aslett Andrew Okello Vitaliy Dubil

🌐 Watch our newest microlearning video in which economists Laurent Kemoe and Daniel Rodríguez delve into two updated IMF frameworks on Data Provision and Data Adequacy Assessment. These frameworks ensure high-quality data for economic analysis and policy advice for countries. Don't miss this opportunity and deepen your understanding of how they impact global economic policy and stability. Watch now to learn more 📺🌍: https://bit.ly/DMPL1LI