Speech

Closing Remarks at the IMF's Third Capacity Development Dialogue "Navigating the Economic Obstacle Course while Addressing Long-Term Challenges: The Role of IMF Capacity Development"

April 28, 2022

Today’s discussion has come to an end, but our dialogue on these important matters will continue on an ongoing basis.

On behalf of the IMF, I would like to express my sincere appreciation for your participation and your valuable contributions. Your insights will certainly contribute to the direction and the modalities of our capacity development activities in the future.

I also would like to thank your own staff who are continuously working with us in our regular dialogues and in steering committee meetings of our thematic funds and regional capacity development centers. You help us to improve our CD and our engagement with country authorities.

From today’s discussion, we agree that institution-building will play a critical role as policymakers seek to respond to the ongoing, multi-pronged shocks while managing unprecedented uncertainty and risks, overcoming the scarring effects from the pandemic, and pursuing transformational reforms toward a resilient and inclusive future.

We will continue to help develop more robust public financial management systems, improve revenue mobilization, strengthen monetary and exchange rate policy frameworks, bank supervision and governance. We will also continue to support transformative policy actions that address longer-term challenges, including inequality, fragility, digitalization, and most notably climate change.

Reinforcing our existing partnerships and building new ones will be essential to achieving our goals. Now is the time to move forward together to maintain global macroeconomic and financial stability and secure a sustainable and inclusive recovery. One message we heard at our Spring meetings that we just concluded here in Washington was a widespread concern about the future of multilateralism and fragmentation. But it is clear from our work together with our many partners and country authorities that capacity development is an antidote to fragmentation – it is a way to share knowledge, expertise, and create new bonds and relationship between experts across countries to tackle common policy challenges. And this is powerful force to redress fragmentation.

In conclusion, let me reiterate how much we value your partnership. I look forward to seeing you again at the next Annual Meetings.

The meeting is now closed, thank you.