IMF Training and Technical Assistance Center

IAS Prelims 2023

The Secretary, Department of Economic Affairs, Ministry of Finance inaugurated the IMF’s South Asia Training and Technical Assistance Center (SARTTAC) in Delhi.

IMF’s South Asia Training and Technical Assistance Center (SARTTAC) is a pioneering initiative of the Government of India and the International Monetary Fund (IMF).

This is the IMF’s First Fully Integrated Capacity Development Center, which brings together under one roof the two building blocks of capacity development —training and technical assistance.

SARTTAC is a collaborative venture between the IMF, the member countries, and development partners.

The center’s strategic goal is to help its member countries strengthen their institutional and human capacity to design and implement macroeconomic and financial policies that promote growth and reduce poverty.

SARTTAC, the newest addition to the IMF’s global network of fourteen regional centers, is a new kind of capacity development institution, fully integrating customized hands-on training with targeted technical advice in a range of macroeconomic and financial areas, and generating synergies between the two.

SARTTAC is located in world class facilities in New Delhi andis financed mainly by its six member countries — Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka — with additional support from Australia, the Republic of Korea, the European Union and the United Kingdom.