Washington DC, 1 August 2022 (TDI): International Monetary Fund (IMF) has initiated projects in various areas for economic development to resolve the COVID-19 crisis.

The areas like inclusive growth, accountability and governance of the crisis-response, debt-management, customs-tax administration, digitalization, and green recovery are supported. These projects are supported by the IMF’s COVID-19 Crisis Capacity Development Initiative.

CCCDI of IMF: An Overview

This Crisis Capacity Development Initiative (CCCDI) of the IMF assists nations in guiding economies through the crisis, laying the groundwork for a broad-based recovery.

Moreover, it provides practical capacity development and supplements the IMF’s emergency lending programs by enhancing capacity in crucial economic institutions.

In both, established and developing areas of IMF expertise, the CCCDI responds to imperative capacity development needs. These still hold utmost significance as nations work to achieve a robust and long-lasting economic recovery.

Furthermore, the work of the Initiative is connected to significant global themes while also addressing urgent needs. The needs include the tax policy and inclusive economic growth which are assisted by an eco-friendly recovery, digital innovation, and revenue mobilization.

Moreover, the IMF’s support aspires to be adaptable, creative, and efficient. Also, the Initiative is flexible and adjusts to changing priorities among nations.

This has given a chance to continue enacting cross-cutting reforms addressing issues like injustice, climate variability, and the widening digital benefit of citizens. Hence, the delivery is supported by the IMF’s improved online learning platform, which has been expanded.

Furthermore, an application under the CCCDI is ongoing to support the above capacity development needs. Also, the work program’s scope was expanded to meet urgent requirements. About forty capacity development events have received funding so far.