Increased cooperation with the IMF in support of developing countries
Bern, 12.05.2021 - Switzerland is strengthening its cooperation with the International Monetary Fund (IMF) in developing countries. On 12 May, the Federal Council decided to invest CHF 25 million in bilateral cooperation over the next five years.
The collaboration with the IMF to provide technical assistance to developing countries will be extended for a further five years, allowing Switzerland to continue its tailored, flexible technical help in key economic areas. The IMF is one of the most important global providers of advisory services on economic policy. Working closely with the IMF brings Switzerland considerable added value and consolidates its profile among the international financial institutions.
The IMF’s technical assistance has already supported previous recipient countries in growing their economies sustainably. The projects have helped to establish functional, efficient and effective systems of public financial management as well as developing a stable, productive financial sector. In Colombia, Peru, Tunisia and Ukraine, for example, the programme led to the introduction of a property price index, which allows housing bubbles to be recognised early. A strategy was developed in Albania to mitigate currency risks associated with the economy’s heavy dependence on the euro. These interventions help to strengthen financial stability and resilience to financial crises.
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EAER Communications
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The Federal Council
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Federal Department of Economic Affairs, Education and Research
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Federal Department of Finance
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