IMF - Singapore Regional Training Institute (STI)

The IMF-Singapore Regional Training Institute (STI) was inaugurated in May 1998 by the Managing Director of the IMF, Mr. Michel Camdessus and the Minister for Finance of Singapore, Dr. Richard Hu. IMF welcomes the collaboration of the Monetary Authority of Singapore and the Singapore Ministry of Foreign Affairs in establishing STI, a joint venture of the IMF and the Government of Singapore aimed at benefitting the Asia and Pacific region. The creation of the STI has come at a time when national economic policy making and international co-operative efforts are increasingly challenged by the globalization of markets for finance, goods, factors of production and, of course, information. These new challenges have put a premium on expertise in macroeconomic policy making and fiscal, financial and external sector issues, as well as the need to improve the quality and timeliness of economic statistics. The STI (which is an affiliate of the IMF Institute located at the IMF's Headquarters) will allow the training of more officials from the Asia and Pacific region, closer to home, with a program that is attuned to their immediate needs.