Austrian Federal Finance Minister Engages with JVI Course Participants

Austria’s Finance Minister, Dr. Magnus Brunner, visited the JVI on September 28. After a tour of the facilities, which have been put at the disposal of the JVI by the Austrian authorities, Minister Brunner met with JVI staff and course participants.

The recent resumption of in-person training delivery allowed Minister Brunner to exchange with course participants in the classroom. Participants were attending the IMF course on Monetary and Fiscal Policy Analysis with Dynamic Stochastic General Equilibrium (DSGE) Models, one of the most technical courses in the JVI curriculum. The main topic of the exchange was how rigorous and quantitative analysis, like the one fostered by the use of DSGE models, can lead to better policymaking. Minister Brunner shared his experience as a top economic policymaker in Austria and heard from participants about their own countries’ experiences. In the discussion, participants emphasized how JVI training helps build macroeconomic management capacity in their countries. 

Minister Brunner also met with JVI staff. The discussion focused on two main topics. The first one was the lessons to be drawn from the experience of delivering training remotely during the most acute phase of the Covid-19 pandemic. Staff reported on the challenges related to virtual delivery, but also on the opportunities it creates. There was broad agreement that while classroom delivery would remain at the core of the JVI business model, better blending of classroom, online, and virtual delivery would be one of the main challenges to address in the years to come. A second topic of discussion was the increase in inflation observed in many countries, including Austria, in 2022. Minister Brunner presented an overview of how the Austrian authorities are trying to soften the impact of higher inflation, particularly on the most vulnerable segments of the population. 

During the discussions, course participants and JVI staff expressed their gratitude to the Austrian authorities for strong and continuous support to the JVI. 

Hervé Joly, Director, Joint Vienna Institute