MCM Technical Assistance Annual Reports

September 27, 2024

MCM Capacity Development Annual Report 2024

Description:

During the fiscal year 2024, the Monetary and Capital Markets (MCM) Department continued to assist the IMF membership build capacity in monetary and financial stability against an increasingly complex global backdrop, marked by inflationary pressures and rising debt vulnerabilities. MCM’s capacity development delivery exceeded pre-COVID levels this fiscal year. MCM's engagement fully reflected the “new normal” of delivery, including in-person, virtual, and hybrid engagements, delivering CD across a broad range of topics, spanning both core and emerging areas. Africa remained the top capacity development recipient, followed by Asia and the Pacific Islands region, Middle East and Central Asia, Western Hemisphere, and Europe. Capacity development delivery to fragile and conflict-affected states remained high on the country priority list.

The 2024 Annual Report showcases MCM's extensive CD efforts, including through a selection of impactful capacity development stories. The Report also discusses the challenges, opportunities, and strategy guiding MCM’s capacity building in an exclusive interview with MCM Deputy Director Miguel Savastano.

October 3, 2023

MCM Capacity Development Annual Report 2023

Description: During fiscal year 2023, the tapering of the global pandemic has allowed MCM to resume in-person CD activities but has also enabled new ways of engagement with member countries (including virtual or hybrid CD delivery). Combining various modalities, such as technical assistance, training (in person or online), peer-to-peer learning, and workshops, has greatly improved the effectiveness of CD delivery and enabled us to better meet the needs of our members. This has established a “new normal” for CD delivery going forward.

The 2023 Annual Report showcases the comprehensiveness of MCM CD support to member countries in this new post-pandemic environment. It presents several projects and stories both on core areas of MCM activity, as well as on the new and emerging ones.

October 4, 2022

MCM Technical Assistance Annual Report 2022

Description: Together with our member countries, we faced many challenges in the fiscal year 2022, with remarkable successes along the way. New waves of infections postponed the end of the global pandemic and rising geopolitical tensions and inflationary pressures dramatically changed the economic outlook and posed new downside risks. In the context of fastchanging conditions, MCM’s capacity development program worked with
our member countries to respond to capacity needs—continuing to build capacity for the medium term and addressing new and immediate needs.

The FY2022 Annual Report showcases the comprehensiveness of MCM support to IMF CD during a period of disruption and opportunity. It showcases several projects and stories on MCM’s core CD areas, as well as in the new and emerging CD areas.

February 4, 2022

Capacity Development Strategy 2022-25

Description: The Monetary and Capital Markets Department (MCM)'s CD Strategy 2022-25—"Supporting Financial Resilience Through Disruption and Change” outlines MCM’s approach to CD within the department’s mandate to support global financial and monetary stability as disruption and change impact the economy, the financial sector, CD funding availability and delivery modalities. The COVID-19 pandemic disruptions come in addition to accelerating technology and other disruptions in the world of finance—changing capacity development (CD) priorities and delivery. Our strategy calls for delivery of highly expert, demand-driven and country tailored CD across our core topics of central banking, financial supervision, crisis management, debt management, monetary and macroprudential policy and financial stability analysis, together with emerging issues related to digital money and finance and climate-related financial risks. We will continue to work with our external donor and delivery partners and work to align our CD with IMF priorities in surveillance and lending and leverage a full range of delivery of including long term resident advisors, training and blended Technical Assistance (TA).

November 16, 2021

Technical Assistance Annual Report 2021

Description: The IMF’s Monetary and Capital Market Department Capacity Development Annual Report 2021 highlights the continued engagement with our member countries amid the COVID-19 pandemic. CD is the core of our financial sector work. We have assisted country authorities navigating challenging conditions for financial resilience, working across our core areas of financial regulation and supervision, crisis prevention and management, monetary and macroprudential policies, central bank operations, and public debt management. We continue to gear up our efforts in climate change, gender, and digitalization as these issues come to the fore for central banks, supervisors and debt managers. We focused on fragile and conflict-affected states and in low-income countries (LICs) and worked closely with surveillance and lending priorities and sequence. Maximizing the impact of our CD work hinges on our ability to deliver high quality, highly expert work in partnership with member countries, donors and other CD providers. The report features a series of case studies that illustrate how together we have done just that.

October 8, 2020

MCM Technical Assistance Annual Report 2020

Description:

The IMF provides Capacity Development (CD)—technical assistance, training, and hands-on practical advice—to help governments strengthen public institutions and implement sound policies. IMF CD covers a broad range of macroeconomic, financial, and structural issues, and supports member countries to build and implement modern policy frameworks that ensure long-term stability. This report by the IMF’s Monetary and Capital Markets Department provides an overview of the Fund’s capacity building in the monetary and financial sectors in fiscal year 2020, addressing the challenges in CD presented by COVID-19 and highlighting case studies that reflect the diversity in our engagements.

October 15, 2019

Technical Assistance Annual Report 2019

Description: Capacity development remains a key priority, as it is one of the foundation pillars for engagement with our member countries. Our 2019 annual report by the IMF’s Monetary and Capital Markets Department provides a comprehensive overview of the technical assistance provided in the department’s core areas of expertise, featuring the different modalities utilized, and outlining overall how the IMF fosters financial stability across the globe. Remaining engaged and attuned to country needs, we also provide insight to country cases and how we addressed demand in emerging topical areas such as cyber risk and fintech.

October 12, 2018

Technical Assistance Annual Report 2018

Description: Supporting capacity development in our member countries through technical assistance and training is a core activity of the IMF. This report by the IMF’s Monetary and Capital Markets Department (MCM) provides an overview of the monetary and financial sector technical assistance delivered by the Fund in fiscal year 2018, and illustrates how the IMF supports countries in implementing sound monetary and financial policies that enhance financial stability across its global membership.

October 23, 2017

MCM Technical Assistance Strategy Update, 2017-20

Description: This 2017–20 Strategy Update outlines the Monetary Capital Markets (MCM) Department’s commitment to continue developing its technical assistance (TA) efficiency, effectiveness, and impact throughout the TA life cycle. Back in 1964, what we know today as the MCM Department was conceived as the Central Banking Service, a technical assistance unit at the service of the Fund’s membership. Over 50 years later, and after a long history of adapting to new challenges, MCM continues to focus on helping countries to maintain and restore financial stability.

October 23, 2016

MCM Technical Assistance Annual Report 2016

Description: MCM’s TA strategy, guided by the Fund’s capacity development priorities, emphasizes providing advice to member countries in the department’s cores areas of expertise, including financial regulation and supervision, crisis prevention and management, monetary and macroprudential policies, central bank operations, and public debt management. This work plays a pivotal role in a number of areas the Fund has prioritized, including finance for development in fragile states and financial market deepening in low-income countries (LICs). At the same time, we aim to align capacity development with surveillance and lending, and bolster financial supervision and regulation and monetary policy frameworks in emerging and frontier market economies and selected LICs.