Austria and IMF renew agreement on Joint Vienna Institute

The International Monetary Fund (IMF) and Austria can already look back on 26 successful years of the Joint Vienna Institute (JVI) in Vienna. This collaboration has today been extended for a further four years by Christine Lagarde, Managing Director of the IMF, Hartwig Löger, Austrian Minister of Finance, Ewald Nowotny, Governor of the Austrian National Bank (Oesterreichische Nationalbank, OeNB), and the OeNB's Vice Governor, Andreas Ittner, in Washington, DC.

"Austrian-IMF cooperation on the JVI affirms the importance Austria attaches to economic policy-oriented capacity development in emerging Europe and Central Asia," noted IMF boss Lagarde, "and the IMF is thankful for Austria's steady support of the JVI".

Austrian Finance Minister Löger stressed that "strengthening the capacity of economic-policy institutions results in more effective policies, enabling greater stability and growth. By providing training to public-sector experts from public administration, Austria is making a key contribution to consolidating relations with its neighbours." OeNB Governor Nowotny stressed further that, "for more than a quarter of a century, the JVI has been committed to promoting sound economic policies in the region as well as fostering the exchange of expert knowledge between central banks and public institutions."

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About the JVI

The JVI is an independent international organisation and the oldest member of a global network operated worldwide by the IMF, consisting of regional capacity development centres. Together with a wide range of international institutions and partners, the JVI primarily provides a broad range of policy-oriented training opportunities to experts from central banks and public administration. Course participants come from Central, Eastern and South-Eastern Europe, the Caucasus and Central Asia. The aim is to support these countries in strengthening their economic institutions and policies, to promote cooperation in the region, and enable the development of regional expert networks in the field of public administration.

Since the JVI's establishment in 1992, more than 42,000 participants have attended JVI courses, covering the areas of economic, fiscal, monetary and financial-market policy. The JVI's alumni include numerous current and former central bank governors, ministers and other high-ranking figures from over thirty countries.

The Memorandum of Understanding concluded between the IMF and Austria is reviewed every four years, with a previous review having taken place in 2014.

JVI training is generally delivered by Austria (by the Austrian Federal Ministry of Finance (BMF) and the OeNB), frequently in cooperation with partner organizations such as the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the International Bank for Reconstruction and Development (IBRD), the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO) and the European Commission.

For further information on the JVI and its primary members, see: 

  • Joint Vienna Institute (JVI): http://www.jvi.org/
  • International Monetary Fund (IMF): http://www.imf.org/