India-IMF inked pact to arrange regional training centre

Author yuvamind

NEW DELHI: India and the International Monetary Fund both have determined to arrange a regional training and technical assistance centre in the Delhi with a target to growing capacity development and training officials in dealing with macro-economic and financial issues.
A memorandum of understanding to fix the centre was inked by Finance Minister Arun Jaitley and IMF Managing Director Christine Lagarde in the presence of PM Narendra Modi. "This will be the first centre that fully integrates training and technical assistance and is a model for our future capacity development work," said Lagarde. The South Asia Regional Training and Technical Assistance Center is expected to become the focal point for planning, co-ordinating and implementing IMF ' s capacity development activity in the region on a wide range of issues, including macro-economic and fiscal management, monetary operations, financial sector regulation and supervision, and macro-economic statistics. SARTTAC will offer courses and seminars for policymakers and other government agencies from the six countries. Funding of the project will come from regional member countries and development partners. The Australian Agency for International Development, the Republic of Korea and India have pledged financial support for the centre.
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