Press Release No. 13/12

Press Release: IMF-Singapore Regional Training Institute Hosts Triennial Asia-Pacific Training Meeting

January 15, 2013

The IMF-Singapore Regional Training Institute (STI) organized the Third STI Meeting on Training in the Asia-Pacific region on January 14-15, 2013. The two-day seminar was held in Singapore and attended by 36 senior officials in charge of training at central banks, finance ministries, and other government agencies from countries across the Asia-Pacific.¹ Representing STI’s main donors were senior officials from Singapore’s Ministry of Foreign Affairs, the Monetary Authority of Singapore, the Japanese Embassy and the Australian High Commission, as well as senior staff from IMF headquarters.

The triennial seminar is part of the IMF’s ongoing dialogue with member countries to shape and customize its assistance for capacity development in the region, which focuses on strengthening macroeconomic institutions and skills in key areas such as monetary, financial and fiscal policy, and economic statistics. “Developing economic institutions, training their staff and reinforcing regional cooperation will be critical to sustaining Asian economic growth over the coming decades,” said Mr. Sunil Sharma, Director of the STI.

Among the issues examined in the seminar were: curriculum development and new courses; the scope for web-based training and collaboration on public policy issues; how the synergies between technical assistance and training could be better exploited; evaluating the impact of training and technical assistance; and ways to make the dialogue between the STI, IMF and member countries more focused and efficient. Participants welcomed the opportunity to exchange views on training strategies with IMF staff and peers from other Asian countries.

The Singapore authorities provided an update on their technical assistance to the region. Mr. Foo Kok Jwee, Director-General of Singapore’s Technical Cooperation Directorate in the Ministry of Foreign Affairs, elaborated on the different modes and diverse areas in which Singapore provides technical assistance to other countries in the region, including governance and administration, trade and economic development, environment and urban planning, civil aviation, land transport, port management, education, and healthcare.

The IMF holds training courses at its headquarters in Washington, D.C., at regional training centers around the world and at other locations, training 7,800 officials in the year ended April 30, 2012. The IMF-Singapore Regional Training Institute is a joint venture of the IMF and the Government of Singapore; the IMF receives substantial funding towards its share of the Institute’s cost from the Government of Japan, with important additional support from the Government of Australia.

¹ Countries eligible for training at the STI are: Islamic Republic of Afghanistan, Bangladesh, Bhutan, Brunei Darussalam, Cambodia, China ((includes Hong Kong SAR and Macau SAR), Democratic Republic of Timor-Leste, India, Indonesia, Iran, Kiribati, Republic of Korea, Lao People’s Dem. Republic, Malaysia, Maldives, Marshall Islands, Federated States of Micronesia, Mongolia, Myanmar, Nepal, Pakistan, Palau, Papua New Guinea, Philippines, Republic of Fiji, Samoa, Singapore, Solomon Islands, Sri Lanka, Thailand, Tonga, Tuvalu, Vanuatu, and Vietnam.