Training for Prosperity

Asia dynamic and diverse considered the engine of the global economy growth in Asia is still faster than the global average contributing to one-third of global trade today the region is becoming increasingly interconnected and more than ever before plays a vital role in the world economy typically countries that have achieved sustainable economic growth are supported by efficient institutions and sound policies often the quality of these policies depends on the people who are running them first and foremost when you think about enhancing policymaking in the region it starts with the people if you've got good people overseeing policy that's really a great start as Asia's financial systems continue to evolve many countries are seeking training for new staff on macroeconomic analysis and policy design which helps them assess vulnerabilities and risks to this end the IMF work closely with experts and donor partners to provide training we believe that to get good economic policymaking I mean the combination of strong institutions and well-trained people and together that creates you know an environment for policymaking that contributes economic stability and growth which is really what what we really want to achieve at the end of the day training for the asia-pacific region is provided at the IMF Singapore Regional Training Institute or STI serving 37 countries the STI was established in 1998 it is jointly funded by the IMF the governments of Singapore and Japan with additional support from Australia Japan and the Asian regions so in that sense supporting Asian countries it's beneficial not only to Asian countries but also to Japan in the past four years more than four thousand officials have attended over 130 STI courses learning is that delicious in the in the classroom but possibly the interactions and the sharing of experiences really with the participants in that is something that our employees really value the sti's courses are conducted by experienced IMF staff consultants and senior officials from member countries whatever we learned here gives us the tools to understand and and to react or to be proactive when in respect to the spill overs that can happen because we are so linked up with many countries around the world and internationally the interconnectedness is making Asia more vulnerable to global economic developments and as the issues are becoming more complex the need to build capacity within the region has increased it's a very dynamic region lots of things happening there are lots of things changing Asia's economic diversity spans the development spectrum from advanced and emerging economies to low-income countries the STI takes into account the unique policy challenges these countries face and provides tailor-made training there's a huge demand for training from this region Asia has something like one-third of the world's population it's a huge region in terms of population and capacity needs the IMF with its 189 member countries is uniquely placed to deliver training as it draws from lessons and experiences of its entire membership well obviously the IMF is a is a world thought leader in fiscal and monetary policy however it's also a neutral thought later it doesn't provide you with the Japanese view or the American view or the European view or the Australian view it provides you with a global view that's made up of every one of its the states the training activities at STI provide the opportunity for officials from different countries to interact with each other and discuss the policy challenges faced by regional economies I suppose we just want to see the STI remain at that forefront of thinking and keep innovating the program so that current developments are always included it's not just text book 101 economics but it's it's things which these policymakers grappling with daily the region will face new challenges and an STI we're going to have to adapt to try to help countries meet those challenges by ensuring that our training remains relevant Japan attracted support IMF and est I continuously from now on my hopes for the sei future is that the IMF training institute is the go-to place for training for any and every aspiring policy maker in the region you

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