“Advancing Asia: Investing for the Future,” co-hosted by the Government of India and the International Monetary Fund (IMF) where Christine Lagarde, Managing Director of IMF revealed to establish a capacity development center in the national capital.
"This will be the first center that fully integrates training and technical assistance and is a model for our future capacity development work. I would also like to express my appreciation to the other member countries for joining with India, the IMF, and partners like Australia and the Republic of Korea, in making this exciting initiative happen.”
The South Asia Regional Training and Technical Assistance Center (SARTTAC) is expected to become the focal point for planning, coordinating, and implementing the IMF’s capacity development activities in the region on a wide range of areas, including macroeconomic and fiscal management, monetary operations, financial sector regulation and supervision, and macroeconomic statistics.The Center will help address existing training needs and respond to the demand for IMF training in India, Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka, while bringing the region’s training volume on par with those of other regions. This will be the first IMF-supported center to combine both technical assistance and training
The discussions included how to maintain and enhance the region’s high growth record while boosting jobs, reducing inequality, accelerating infrastructure and human capital development. They also exchanged views on managing capital flows, financial inclusion, demographic issues, women’s empowerment and climate change.
Asia’s growth and prosperity is vitally important not only for the region, but for the world said Lagarde.